Cerity Partners LLC Trims Position in Hubbell Incorporated (NYSE:HUBB)

Cerity Partners LLC reduced its stake in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 18.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,588 shares of the industrial products company's stock after selling 1,738 shares during the period. Cerity Partners LLC's holdings in Hubbell were worth $3,237,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in HUBB. 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 purchasing an additional 30 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in Hubbell in the 4th quarter worth $30,000. Versant Capital Management Inc lifted its position in shares of Hubbell by 64.6% in the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company's stock valued at $33,000 after acquiring an additional 31 shares in the last quarter. Venturi Wealth Management LLC grew its position in shares of Hubbell by 69.7% during the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company's stock worth $54,000 after purchasing an additional 53 shares in the last quarter. Finally, Golden State Wealth Management LLC bought a new stake in Hubbell during the 4th quarter valued at approximately $69,000. 88.16% of the stock is currently owned by institutional investors.

Hubbell Stock Down 0.1 %

Shares of HUBB traded down $0.42 during trading hours on Friday, hitting $338.36. The company had a trading volume of 466,124 shares, compared to its average volume of 517,997. Hubbell Incorporated has a one year low of $299.43 and a one year high of $481.35. The company's fifty day moving average price is $351.09 and its two-hundred day moving average price is $409.07. The company has a market capitalization of $18.16 billion, a PE ratio of 23.56, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44.

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

Hubbell announced that its board has authorized a stock repurchase program 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 programs are often an indication that the company's management believes its shares are undervalued.

Hubbell Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders 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 dividend yield of 1.56%. Hubbell's dividend payout ratio is presently 36.77%.

Insider Transactions at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction dated 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 approximately $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.66% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on HUBB shares. JPMorgan Chase & Co. cut their price objective on shares of Hubbell from $430.00 to $352.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Barclays reduced 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. StockNews.com downgraded shares of Hubbell from a "buy" rating to a "hold" rating in a report on Friday, April 11th. Finally, Wells Fargo & Company reduced their target price on Hubbell from $455.00 to $450.00 and set an "equal weight" rating on the stock in a report 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 company currently has an average rating of "Hold" and a consensus target price of $449.38.

About Hubbell

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.