Hubbell Incorporated (NYSE:HUBB) Shares Sold by Fmr LLC

FMR LLC trimmed its holdings in Hubbell Incorporated (NYSE:HUBB - Free Report) by 5.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,166,716 shares of the industrial products company's stock after selling 125,284 shares during the quarter. FMR LLC owned approximately 4.04% of Hubbell worth $907,616,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Benjamin Edwards Inc. acquired a new stake in shares of Hubbell during the third quarter worth $426,000. Janus Henderson Group PLC raised its holdings in Hubbell by 11.1% during the third quarter. Janus Henderson Group PLC now owns 7,007 shares of the industrial products company's stock worth $3,001,000 after purchasing an additional 700 shares during the last quarter. Quantinno Capital Management LP boosted its position in shares of Hubbell by 12.3% in the 3rd quarter. Quantinno Capital Management LP now owns 6,829 shares of the industrial products company's stock worth $2,926,000 after buying an additional 750 shares in the last quarter. National Bank of Canada FI grew its position in shares of Hubbell by 47.8% in the third quarter. National Bank of Canada FI now owns 21,808 shares of the industrial products company's stock valued at $9,341,000 after purchasing an additional 7,052 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its position in Hubbell by 6.4% during the third quarter. Nomura Asset Management Co. Ltd. now owns 16,001 shares of the industrial products company's stock worth $6,854,000 after buying an additional 957 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company's stock.

Hubbell Stock Up 3.5 %

Shares of HUBB stock traded up $11.89 on Friday, hitting $353.73. The stock had a trading volume of 1,052,242 shares, compared to its average volume of 514,103. The stock's 50 day moving average is $356.69 and its 200-day moving average is $411.80. The firm has a market capitalization of $18.98 billion, a price-to-earnings ratio of 24.63, a P/E/G ratio of 1.34 and a beta of 0.95. Hubbell Incorporated has a 52-week low of $299.43 and a 52-week 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.

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

Hubbell Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a dividend of $1.32 per share. The ex-dividend date was Friday, February 28th. This represents a $5.28 annualized dividend and a yield of 1.49%. Hubbell's dividend payout ratio is presently 36.77%.

Hubbell declared that its board has approved a share buyback program on Wednesday, February 12th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the industrial products company to repurchase 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.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Barclays decreased their price target 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 lowered Hubbell from a "buy" rating to a "hold" rating in a research report on Friday. Wells Fargo & Company lowered their price target on Hubbell from $455.00 to $450.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. cut their price objective on Hubbell from $430.00 to $352.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Hubbell currently has an average rating of "Hold" and a consensus price target of $449.38.

Insider Activity at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total transaction of $452,865.84. Following the completion of the transaction, the insider now directly owns 4,327 shares of the company's stock, valued at $1,683,462.62. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is currently owned by corporate 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.