CIBC Private Wealth Group LLC Decreases Holdings in Hubbell Incorporated (NYSE:HUBB)

CIBC Private Wealth Group LLC lowered its stake in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 125,932 shares of the industrial products company's stock after selling 3,197 shares during the quarter. CIBC Private Wealth Group LLC owned approximately 0.23% of Hubbell worth $54,751,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Hubbell by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 6,634,705 shares of the industrial products company's stock worth $2,779,212,000 after purchasing an additional 65,033 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Hubbell by 4.8% during the fourth quarter. Bank of New York Mellon Corp now owns 2,826,327 shares of the industrial products company's stock valued at $1,183,920,000 after purchasing an additional 129,490 shares during the period. State Street Corp increased its position in Hubbell by 1.1% in the third quarter. State Street Corp now owns 2,092,215 shares of the industrial products company's stock worth $896,200,000 after buying an additional 22,507 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Hubbell by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,254,905 shares of the industrial products company's stock valued at $535,681,000 after buying an additional 8,278 shares during the period. Finally, Norges Bank purchased a new position in shares of Hubbell during the 4th quarter valued at $195,218,000. Hedge funds and other institutional investors own 88.16% of the company's stock.

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Analyst Ratings Changes

HUBB has been the topic of a number of research reports. Barclays lowered their price objective on Hubbell from $422.00 to $400.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 26th. StockNews.com raised shares of Hubbell from a "hold" rating to a "buy" rating in a research report on Thursday. Finally, Wells Fargo & Company cut their price objective 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. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $462.13.

Hubbell Price Performance

NYSE:HUBB traded down $5.66 during trading hours on Friday, hitting $315.69. The stock had a trading volume of 1,202,137 shares, compared to its average volume of 499,847. The firm has a market capitalization of $16.94 billion, a price-to-earnings ratio of 21.98, a P/E/G ratio of 1.34 and a beta of 0.95. Hubbell Incorporated has a one year low of $299.43 and a one year high of $481.35. The company has a 50 day simple moving average of $367.74 and a two-hundred day simple moving average of $416.03. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter last year, the company earned $3.69 earnings per share. The firm's quarterly revenue was down .9% on a year-over-year basis. Research analysts forecast that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

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

Hubbell declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the industrial products company to purchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its shares are undervalued.

Insider Buying and Selling at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction 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 transaction, the insider now owns 4,327 shares of the company's stock, valued at $1,683,462.62. This represents a 21.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.66% of the stock is currently owned by company 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.