California Public Employees Retirement System Has $37.71 Million Stock Position in Hubbell Incorporated (NYSE:HUBB)

California Public Employees Retirement System lessened its stake in Hubbell Incorporated (NYSE:HUBB - Free Report) by 5.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 90,028 shares of the industrial products company's stock after selling 4,715 shares during the quarter. California Public Employees Retirement System owned approximately 0.17% of Hubbell worth $37,712,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Creative Financial Designs Inc. ADV increased its position in Hubbell by 85.7% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock worth $27,000 after buying an additional 30 shares during the last quarter. Groupama Asset Managment boosted its stake in shares of Hubbell by 17.0% during the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company's stock worth $30,000 after acquiring an additional 1,010 shares during the period. Stonebridge Financial Group LLC acquired a new position in shares of Hubbell during the 4th quarter worth approximately $30,000. Versant Capital Management Inc raised its stake in Hubbell by 64.6% in the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company's stock valued at $33,000 after acquiring an additional 31 shares during the period. Finally, Venturi Wealth Management LLC lifted its holdings in Hubbell by 69.7% during the 4th quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company's stock valued at $54,000 after purchasing an additional 53 shares during the last quarter. 88.16% of the stock is owned by institutional investors.

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Wall Street Analysts Forecast Growth

HUBB has been the topic of several research reports. StockNews.com upgraded shares of Hubbell from a "hold" rating to a "buy" rating in a report on Thursday. Wells Fargo & Company decreased their price target on shares of Hubbell from $455.00 to $450.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 7th. Finally, Barclays cut their price objective on shares of Hubbell from $422.00 to $400.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 26th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Hubbell currently has a consensus rating of "Hold" and a consensus target price of $462.13.

Hubbell Stock Performance

NYSE HUBB traded down $5.66 during trading on Friday, reaching $315.69. The company's stock had a trading volume of 1,202,137 shares, compared to its average volume of 499,847. The firm has a 50 day moving average price of $370.54 and a 200 day moving average price of $416.68. Hubbell Incorporated has a 12 month low of $299.36 and a 12 month high of $481.35. The firm has a market capitalization of $16.94 billion, a price-to-earnings ratio of 21.98, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44.

Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.08. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The business had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.41 billion. During the same period in the previous year, the company posted $3.69 earnings per share. The firm's revenue for the quarter was down .9% compared to the same quarter last year. As a group, equities analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were given a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend was Friday, February 28th. Hubbell's payout ratio is currently 36.77%.

Hubbell announced that its board has initiated a stock buyback program on Wednesday, February 12th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the industrial products company to reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company's management believes its stock is undervalued.

Insider Activity at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $389.06, for a total transaction of $452,865.84. Following the sale, the insider now directly owns 4,327 shares in the company, valued at $1,683,462.62. This represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.66% of the stock is owned by insiders.

Hubbell Company Profile

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and utility solutions in the United States and internationally. It operates through two segments, Electrical Solutions and Utility Solutions. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures, and other electrical equipment for use in industrial, commercial, and institutional facilities by electrical contractors, maintenance personnel, electricians, utilities, and telecommunications companies, as well as components and assemblies.