New York State Teachers Retirement System Sells 2,607 Shares of Hubbell Incorporated (NYSE:HUBB)

New York State Teachers Retirement System reduced its position in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 5.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 48,357 shares of the industrial products company's stock after selling 2,607 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of Hubbell worth $20,256,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HUBB. Creative Planning raised its holdings in Hubbell by 19.3% during the 3rd quarter. Creative Planning now owns 4,144 shares of the industrial products company's stock worth $1,775,000 after purchasing an additional 671 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Hubbell by 61.9% in the 3rd quarter. Blue Trust Inc. now owns 518 shares of the industrial products company's stock valued at $222,000 after acquiring an additional 198 shares during the last quarter. Raymond James & Associates increased its stake in shares of Hubbell by 1.6% in the 3rd quarter. Raymond James & Associates now owns 60,582 shares of the industrial products company's stock valued at $25,950,000 after acquiring an additional 931 shares during the last quarter. Resonant Capital Advisors LLC increased its stake in shares of Hubbell by 7.0% in the 3rd quarter. Resonant Capital Advisors LLC now owns 716 shares of the industrial products company's stock valued at $307,000 after acquiring an additional 47 shares during the last quarter. Finally, OLD National Bancorp IN increased its stake in shares of Hubbell by 3.8% in the 3rd quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company's stock valued at $255,000 after acquiring an additional 22 shares during the last quarter. 88.16% of the stock is owned by institutional investors.

Hubbell Stock Down 0.9 %

Shares of HUBB traded down $3.34 on Thursday, hitting $389.04. The company's stock had a trading volume of 443,368 shares, compared to its average volume of 620,648. 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 firm's fifty day moving average price is $422.89 and its 200-day moving average price is $423.71. Hubbell Incorporated has a fifty-two week low of $346.13 and a fifty-two week high of $481.35. The firm has a market capitalization of $20.88 billion, a price-to-earnings ratio of 27.09, a P/E/G ratio of 1.36 and a beta of 0.92.

Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share 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 quarter in the prior year, the firm posted $3.69 EPS. The business's revenue was down .9% on a year-over-year basis. On average, equities research analysts expect that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell declared that its board has authorized a share repurchase program 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 programs are generally an indication that the company's leadership believes its stock is undervalued.

Hubbell Announces Dividend

The company also recently declared 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 1.36%. The ex-dividend date of this dividend is Friday, February 28th. Hubbell's dividend payout ratio (DPR) is currently 36.77%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft cut Hubbell from a "buy" rating to a "hold" rating and lowered their price target for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Sanford C. Bernstein assumed coverage on Hubbell in a research note on Tuesday, November 5th. They issued an "outperform" rating and a $535.00 price target for the company. Wells Fargo & Company lowered their price target on Hubbell from $455.00 to $450.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 7th. Morgan Stanley upped their price target on Hubbell from $407.00 to $445.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Finally, StockNews.com upgraded Hubbell from a "hold" rating to a "buy" rating in a research report on Monday. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Hubbell currently has a consensus rating of "Hold" and an average 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.