Hubbell Incorporated (NYSE:HUBB) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its stake in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 20.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,434,916 shares of the industrial products company's stock after selling 371,714 shares during the period. JPMorgan Chase & Co. owned about 2.67% of Hubbell worth $601,072,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Salem Investment Counselors Inc. boosted its holdings in shares of Hubbell by 26.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 9,144 shares of the industrial products company's stock worth $3,830,000 after acquiring an additional 1,886 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Hubbell by 122.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 28,723 shares of the industrial products company's stock worth $12,032,000 after purchasing an additional 15,806 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Hubbell by 7.1% during the 3rd quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company's stock valued at $98,187,000 after buying an additional 15,215 shares in the last quarter. Nordea Investment Management AB raised its position in Hubbell by 29.6% during the fourth quarter. Nordea Investment Management AB now owns 160,630 shares of the industrial products company's stock valued at $67,503,000 after purchasing an additional 36,643 shares in the last quarter. Finally, SPX Gestao de Recursos Ltda purchased a new position in shares of Hubbell during the 3rd quarter valued at about $9,985,000. Hedge funds and other institutional investors own 88.16% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Barclays dropped their price target on Hubbell from $422.00 to $400.00 and set an "equal weight" rating for the company 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 report on Wednesday, March 26th. Finally, Wells Fargo & Company lowered their target price 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 given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $462.13.

Insider Buying and Selling at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the business's stock in a transaction dated 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 owns 4,327 shares of the company's stock, valued at $1,683,462.62. The trade was a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.66% of the company's stock.

Hubbell Trading Up 2.2 %

Shares of NYSE:HUBB traded up $7.23 during trading on Wednesday, reaching $340.09. 98,750 shares of the company were exchanged, compared to its average volume of 492,580. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. The firm has a market capitalization of $18.25 billion, a PE ratio of 23.67, a P/E/G ratio of 1.34 and a beta of 0.94. The business's fifty day simple moving average is $375.48 and its 200-day simple moving average is $417.88. Hubbell Incorporated has a 12-month low of $316.34 and a 12-month high of $481.35.

Hubbell (NYSE:HUBB - Get Free Report) last announced its earnings results 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 net margin of 13.82% and a return on equity of 28.62%. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the company posted $3.69 earnings per share. The firm's revenue was down .9% on a year-over-year basis. On average, research analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Announces Dividend

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

Hubbell declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 12th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the industrial products company to buy up to 2.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors 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.