Hubbell Incorporated (NYSE:HUBB) Shares Sold by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. reduced its position in Hubbell Incorporated (NYSE:HUBB - Free Report) by 8.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 346,310 shares of the industrial products company's stock after selling 31,653 shares during the quarter. Adage Capital Partners GP L.L.C. owned approximately 0.65% of Hubbell worth $145,066,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Hubbell by 12.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company's stock valued at $96,000 after acquiring an additional 25 shares during the period. JGP Wealth Management LLC raised its holdings in shares of Hubbell by 1.2% in the fourth quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company's stock valued at $884,000 after buying an additional 26 shares during the last quarter. Huntington National Bank boosted its stake in shares of Hubbell by 3.0% during the fourth quarter. Huntington National Bank now owns 886 shares of the industrial products company's stock worth $371,000 after buying an additional 26 shares during the period. Sanctuary Advisors LLC grew its holdings in shares of Hubbell by 0.5% during the fourth quarter. Sanctuary Advisors LLC now owns 5,422 shares of the industrial products company's stock worth $2,313,000 after buying an additional 27 shares during the last quarter. Finally, Mindset Wealth Management LLC increased its position in Hubbell by 1.7% in the 4th quarter. Mindset Wealth Management LLC now owns 1,655 shares of the industrial products company's stock valued at $693,000 after acquiring an additional 27 shares during the period. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. JPMorgan Chase & Co. lowered their target price on Hubbell from $430.00 to $352.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Barclays dropped their price objective on shares of 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 cut shares of Hubbell from a "buy" rating to a "hold" rating in a research note on Friday, April 11th. Finally, Wells Fargo & Company dropped 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. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $449.38.

Insider Transactions at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total transaction of $452,865.84. Following the sale, the insider now owns 4,327 shares in the company, valued at approximately $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 can be accessed through this link. Corporate insiders own 0.66% of the company's stock.

Hubbell Stock Performance

NYSE HUBB opened at $340.73 on Wednesday. The business has a 50 day moving average price of $348.81 and a 200 day moving average price of $407.65. The company has a market capitalization of $18.29 billion, a P/E ratio of 23.73, a PEG ratio of 1.34 and a beta of 0.95. Hubbell Incorporated has a 1-year low of $299.43 and a 1-year high of $481.35. 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 announced its quarterly 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 business had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.41 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The business's revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the business posted $3.69 earnings per share. Sell-side analysts expect that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a $1.32 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $5.28 annualized dividend and a dividend yield of 1.55%. Hubbell's dividend payout ratio is presently 36.77%.

Hubbell announced that its board has approved a share repurchase plan on Wednesday, February 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 2.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

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.

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