Valley Wealth Managers Inc. Trims Holdings in Hubbell Incorporated (NYSE:HUBB)

Valley Wealth Managers Inc. lowered its position in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 3.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,193 shares of the industrial products company's stock after selling 1,963 shares during the period. Hubbell accounts for about 1.8% of Valley Wealth Managers Inc.'s holdings, making the stock its 12th biggest position. Valley Wealth Managers Inc. owned 0.10% of Hubbell worth $23,539,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of HUBB. Groupama Asset Managment grew its stake in Hubbell by 17.0% during the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 1,010 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in Hubbell during the fourth quarter valued at approximately $30,000. Prospera Private Wealth LLC purchased a new position in Hubbell during the third quarter valued at approximately $33,000. Versant Capital Management Inc grew its stake in Hubbell by 64.6% during 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. Finally, Ashton Thomas Securities LLC purchased a new position in Hubbell during the third quarter valued at approximately $41,000. Hedge funds and other institutional investors own 88.16% of the company's stock.

Hubbell Trading Down 3.3 %

Shares of NYSE HUBB traded down $12.68 during mid-day trading on Friday, hitting $376.74. The stock had a trading volume of 638,985 shares, compared to its average volume of 621,185. 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 Incorporated has a 1 year low of $346.13 and a 1 year high of $481.35. The business has a 50 day moving average price of $421.57 and a two-hundred day moving average price of $423.47. The firm has a market cap of $20.22 billion, a P/E ratio of 26.24, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92.

Hubbell (NYSE:HUBB - Get Free Report) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 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 the consensus estimate of $1.41 billion. During the same period in the previous year, the firm earned $3.69 earnings per share. The firm's revenue for the quarter was down .9% on a year-over-year basis. On average, equities analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date is Friday, February 28th. Hubbell's payout ratio is currently 36.77%.

Hubbell declared that its Board of Directors has initiated a share buyback 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 purchase up to 2.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

HUBB has been the subject of several recent analyst reports. Barclays boosted their price objective on shares of Hubbell from $402.00 to $475.00 and gave the company an "equal weight" rating in a research note on Thursday, December 5th. StockNews.com upgraded shares of Hubbell from a "hold" rating to a "buy" rating in a research report on Monday. Wells Fargo & Company dropped their target price on shares of Hubbell from $455.00 to $450.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a "buy" rating to a "hold" rating and dropped their target price for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. Finally, Morgan Stanley lifted their target price on shares of Hubbell from $407.00 to $445.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $471.50.

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.