Pictet Asset Management Holding SA Trims Position in Hubbell Incorporated (NYSE:HUBB)

Pictet Asset Management Holding SA decreased its holdings in Hubbell Incorporated (NYSE:HUBB - Free Report) by 6.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 24,458 shares of the industrial products company's stock after selling 1,588 shares during the period. Pictet Asset Management Holding SA's holdings in Hubbell were worth $10,245,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. Creative Financial Designs Inc. ADV boosted its position in shares of Hubbell by 85.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 30 shares during the last quarter. Groupama Asset Managment raised 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 worth $30,000 after purchasing an additional 1,010 shares during the period. Stonebridge Financial Group LLC acquired a new position in Hubbell in the 4th quarter valued at about $30,000. Versant Capital Management Inc grew its stake in shares of Hubbell by 64.6% in the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company's stock valued at $33,000 after buying an additional 31 shares during the period. Finally, Venturi Wealth Management LLC increased its holdings in shares of Hubbell by 69.7% during the 4th quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company's stock worth $54,000 after buying an additional 53 shares during the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

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Hubbell Stock Down 1.8 %

Hubbell stock traded down $5.66 during midday trading on Friday, reaching $315.69. The company's stock had a trading volume of 1,202,137 shares, compared to its average volume of 499,847. The company has a market cap of $16.94 billion, a P/E ratio of 21.98, 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. The business has a 50-day simple moving average of $370.54 and a 200-day simple moving average of $416.68. Hubbell Incorporated has a fifty-two week low of $299.36 and a fifty-two week high of $481.35.

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

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were given a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend was Friday, February 28th. Hubbell's dividend payout ratio (DPR) is 36.77%.

Hubbell announced that its board has authorized a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the industrial products company to purchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts recently weighed in on HUBB shares. Wells Fargo & Company lowered their price objective on Hubbell from $455.00 to $450.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 7th. Barclays dropped their price objective on shares of Hubbell from $422.00 to $400.00 and set an "equal weight" rating for the company in a report on Wednesday, March 26th. Finally, StockNews.com upgraded Hubbell from a "hold" rating to a "buy" rating in a research note on Thursday. Five 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, the company presently has a consensus rating of "Hold" and a consensus price target of $462.13.

Insider Buying and Selling

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

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.