Ceredex Value Advisors LLC Reduces Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Ceredex Value Advisors LLC cut its holdings in Hubbell Incorporated (NYSE:HUBB - Free Report) by 63.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 66,550 shares of the industrial products company's stock after selling 116,564 shares during the quarter. Ceredex Value Advisors LLC owned about 0.12% of Hubbell worth $27,877,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Creative Financial Designs Inc. ADV increased its stake in shares of Hubbell by 85.7% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock worth $27,000 after acquiring an additional 30 shares during the last quarter. Stonebridge Financial Group LLC acquired a new stake in Hubbell in the 4th quarter valued at approximately $30,000. Versant Capital Management Inc raised its stake in Hubbell by 64.6% during the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company's stock valued at $33,000 after purchasing an additional 31 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Hubbell by 69.7% in the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company's stock valued at $54,000 after buying an additional 53 shares during the period. Finally, Golden State Wealth Management LLC bought a new stake in shares of Hubbell in the 4th quarter worth approximately $69,000. Institutional investors own 88.16% of the company's stock.

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total value of $452,865.84. Following the completion of the transaction, the insider now owns 4,327 shares of the company's stock, valued at $1,683,462.62. The trade was a 21.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.66% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Wells Fargo & Company cut their price target on shares of Hubbell from $455.00 to $450.00 and set an "equal weight" rating for the company in a report on Tuesday, January 7th. StockNews.com cut shares of Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. Barclays dropped their target price on Hubbell from $422.00 to $400.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Hubbell from $430.00 to $352.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Hubbell currently has a consensus rating of "Hold" and an average price target of $449.38.

Hubbell Stock Performance

NYSE:HUBB traded down $12.60 during trading on Monday, reaching $326.37. The company's stock had a trading volume of 83,605 shares, compared to its average volume of 516,934. The firm has a market cap of $17.52 billion, a price-to-earnings ratio of 22.73, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. Hubbell Incorporated has a 12 month low of $299.43 and a 12 month high of $481.35. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. The firm has a 50 day moving average of $351.09 and a 200-day moving average of $408.82.

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

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

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend was Friday, February 28th. Hubbell's payout ratio is 36.77%.

Hubbell 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.