FIL Ltd Trims Holdings in Hubbell Incorporated (NYSE:HUBB)

FIL Ltd decreased its stake in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 9.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,058,169 shares of the industrial products company's stock after selling 104,781 shares during the period. FIL Ltd owned approximately 1.97% of Hubbell worth $443,256,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB boosted its position in Hubbell by 12.3% during 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 in the last quarter. JGP Wealth Management LLC lifted its stake in shares of Hubbell by 1.2% in the 4th quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company's stock valued at $884,000 after purchasing an additional 26 shares during the period. Huntington National Bank boosted its position 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 valued at $371,000 after purchasing an additional 26 shares in the last quarter. Sanctuary Advisors LLC grew its stake in Hubbell by 0.5% in the fourth quarter. Sanctuary Advisors LLC now owns 5,422 shares of the industrial products company's stock worth $2,313,000 after purchasing an additional 27 shares during the period. Finally, Mindset Wealth Management LLC raised its holdings in Hubbell by 1.7% in the fourth quarter. Mindset Wealth Management LLC now owns 1,655 shares of the industrial products company's stock worth $693,000 after purchasing an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company's stock.

Insider Activity at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of the business's stock in a transaction that occurred 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 sale, the insider now directly owns 4,327 shares in the company, valued at approximately $1,683,462.62. The trade was a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.66% of the stock is owned by company insiders.

Analyst Ratings Changes

HUBB has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their target price on shares of Hubbell from $430.00 to $352.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company dropped their price objective 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. StockNews.com downgraded shares of Hubbell from a "buy" rating to a "hold" rating in a research note on Friday. Finally, Barclays dropped their price target on Hubbell from $422.00 to $400.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 26th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $449.38.

Hubbell Stock Up 3.5 %

Shares of Hubbell stock traded up $11.89 on Friday, reaching $353.73. The company's stock had a trading volume of 1,052,242 shares, compared to its average volume of 514,103. The company 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. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. Hubbell Incorporated has a 52 week low of $299.43 and a 52 week high of $481.35. The firm's fifty day simple moving average is $356.69 and its two-hundred day simple moving average is $411.80.

Hubbell (NYSE:HUBB - Get Free Report) last posted its earnings results 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 net margin of 13.82% and a return on equity of 28.62%. The business had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.41 billion. During the same quarter in the prior year, the business earned $3.69 EPS. The business's revenue for the quarter was down .9% compared to the same quarter last year. Equities analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell announced that its board has approved 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 repurchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Hubbell Announces Dividend

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

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.