Premier Fund Managers Ltd Has $4.96 Million Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Premier Fund Managers Ltd lowered its holdings in Hubbell Incorporated (NYSE:HUBB - Free Report) by 13.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,850 shares of the industrial products company's stock after selling 1,800 shares during the quarter. Premier Fund Managers Ltd's holdings in Hubbell were worth $4,963,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in HUBB. Creative Financial Designs Inc. ADV increased its stake in Hubbell by 85.7% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 30 shares in the last quarter. Groupama Asset Managment grew its holdings in Hubbell by 17.0% in the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 1,010 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of Hubbell in the fourth quarter valued at $30,000. Versant Capital Management Inc raised its stake in shares of Hubbell by 64.6% during the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company's stock worth $33,000 after buying an additional 31 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its position in shares of Hubbell by 69.7% in 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 in the last quarter. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

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Hubbell Trading Up 0.6 %

Shares of NYSE:HUBB traded up $2.00 during midday trading on Tuesday, reaching $332.91. The company had a trading volume of 137,717 shares, compared to its average volume of 651,165. The company has a fifty day simple moving average of $377.84 and a two-hundred day simple moving average of $418.38. The firm has a market cap of $17.87 billion, a price-to-earnings ratio of 23.17, a price-to-earnings-growth ratio of 1.34 and a beta of 0.94. Hubbell Incorporated has a 1-year low of $316.34 and a 1-year high of $481.35. 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 (NYSE:HUBB - Get Free Report) last released 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 the consensus estimate of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The firm's quarterly revenue was down .9% compared to the same quarter last year. During the same period last year, the firm posted $3.69 earnings per share. Research analysts predict that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell declared that its board has approved a stock repurchase 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 buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Hubbell Dividend Announcement

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 $1.32 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a yield of 1.59%. Hubbell's payout ratio is 36.77%.

Insider Buying and Selling at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction dated 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 of the company's stock, valued at approximately $1,683,462.62. This represents a 21.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.66% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on HUBB shares. Wells Fargo & Company dropped their price objective on shares of Hubbell from $455.00 to $450.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 7th. StockNews.com downgraded shares of Hubbell from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Finally, 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. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $462.13.

Hubbell 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.