Grantham Mayo Van Otterloo & Co. LLC Trims Stock Position in Hubbell Incorporated (NYSE:HUBB)

Grantham Mayo Van Otterloo & Co. LLC cut its stake in Hubbell Incorporated (NYSE:HUBB - Free Report) by 35.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,376 shares of the industrial products company's stock after selling 25,300 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned 0.09% of Hubbell worth $19,426,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Public Sector Pension Investment Board grew its holdings in shares of Hubbell by 14.6% during the third quarter. Public Sector Pension Investment Board now owns 2,348 shares of the industrial products company's stock valued at $1,006,000 after buying an additional 300 shares during the last quarter. Benjamin Edwards Inc. acquired a new stake in Hubbell during the 3rd quarter worth about $426,000. Janus Henderson Group PLC boosted its stake in shares of Hubbell by 11.1% in the third quarter. Janus Henderson Group PLC now owns 7,007 shares of the industrial products company's stock worth $3,001,000 after buying an additional 700 shares during the last quarter. Investment Management Corp of Ontario grew its holdings in Hubbell by 50.7% during the third quarter. Investment Management Corp of Ontario now owns 1,784 shares of the industrial products company's stock worth $764,000 after acquiring an additional 600 shares during the period. Finally, Integrated Wealth Concepts LLC raised its position in Hubbell by 165.7% during the third quarter. Integrated Wealth Concepts LLC now owns 3,175 shares of the industrial products company's stock valued at $1,360,000 after acquiring an additional 1,980 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company's stock.

Insider Buying and Selling at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total value of $452,865.84. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.66% of the stock is owned by insiders.

Analysts Set New Price Targets

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

Hubbell Price Performance

Shares of NYSE HUBB traded up $8.31 during trading on Friday, hitting $350.15. The company had a trading volume of 294,916 shares, compared to its average volume of 509,976. Hubbell Incorporated has a fifty-two week low of $299.43 and a fifty-two week high of $481.35. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. The stock has a fifty day simple moving average of $357.63 and a two-hundred day simple moving average of $412.40. The firm has a market capitalization of $18.79 billion, a price-to-earnings ratio of 24.37, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95.

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

Hubbell announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its shares are undervalued.

Hubbell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid 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 1.51%. Hubbell's dividend payout ratio is presently 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.