Hubbell Incorporated (NYSE:HUBB) Position Reduced by Hudson Edge Investment Partners Inc.

Hudson Edge Investment Partners Inc. reduced its stake in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 7.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,820 shares of the industrial products company's stock after selling 1,127 shares during the quarter. Hubbell accounts for approximately 1.1% of Hudson Edge Investment Partners Inc.'s holdings, making the stock its 26th largest holding. Hudson Edge Investment Partners Inc.'s holdings in Hubbell were worth $6,208,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HUBB. Mizuho Securities USA LLC grew its stake in shares of Hubbell by 192,421.1% during the third quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company's stock valued at $3,418,233,000 after acquiring an additional 7,975,855 shares in the last quarter. State Street Corp boosted its holdings in Hubbell by 1.1% in the third quarter. State Street Corp now owns 2,092,215 shares of the industrial products company's stock valued at $896,200,000 after purchasing an additional 22,507 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Hubbell by 6.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,417,476 shares of the industrial products company's stock valued at $607,176,000 after purchasing an additional 82,258 shares in the last quarter. Geode Capital Management LLC increased its holdings in Hubbell by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,254,905 shares of the industrial products company's stock worth $535,681,000 after purchasing an additional 8,278 shares during the last quarter. Finally, Impax Asset Management Group plc raised its position in shares of Hubbell by 30.3% in the 3rd quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company's stock valued at $514,377,000 after purchasing an additional 279,654 shares in the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on HUBB. Morgan Stanley raised their price target on shares of Hubbell from $407.00 to $445.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. 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 cut shares of Hubbell from a "buy" rating to a "hold" rating and reduced their price target for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. Barclays boosted their price objective on Hubbell from $402.00 to $475.00 and gave the company an "equal weight" rating in a report on Thursday, December 5th. Finally, Sanford C. Bernstein began coverage on Hubbell in a report on Tuesday, November 5th. They set an "outperform" rating and a $535.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, Hubbell currently has a consensus rating of "Hold" and an average target price of $471.50.

Insiders Place Their Bets

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell 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 of the company's stock, valued at $1,683,462.62. The trade was a 21.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.66% of the stock is owned by insiders.

Hubbell Stock Performance

Shares of NYSE:HUBB traded up $5.60 during trading on Wednesday, hitting $377.81. 697,487 shares of the company traded hands, compared to its average volume of 635,510. The stock has a market capitalization of $20.28 billion, a price-to-earnings ratio of 26.31, a PEG ratio of 1.34 and a beta of 0.92. Hubbell Incorporated has a one year low of $346.13 and a one year 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 business's fifty day moving average is $416.93 and its 200-day moving average is $424.37.

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

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be paid 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 of this dividend is Friday, February 28th. Hubbell's payout ratio is 36.77%.

Hubbell announced that its Board of Directors has authorized 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 purchase up to 2.4% of its stock through open market purchases. Stock 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.