Prudential Financial Inc. Sells 4,126 Shares of Hubbell Incorporated (NYSE:HUBB)

Prudential Financial Inc. decreased its holdings in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 12.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,731 shares of the industrial products company's stock after selling 4,126 shares during the quarter. Prudential Financial Inc. owned 0.06% of Hubbell worth $12,836,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Creative Financial Designs Inc. ADV boosted its holdings 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 in the last quarter. Groupama Asset Managment increased its position in Hubbell by 17.0% in the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 1,010 shares during the period. Stonebridge Financial Group LLC bought a new position in Hubbell during the 4th quarter worth $30,000. Versant Capital Management Inc raised its position in shares of Hubbell by 64.6% during the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company's stock worth $33,000 after acquiring an additional 31 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted 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 purchasing an additional 53 shares during the period. Institutional investors own 88.16% of the company's stock.

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Insider Buying and Selling at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the company's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $389.06, for a total value of $452,865.84. Following the completion of the transaction, the insider now owns 4,327 shares of the company's stock, valued at $1,683,462.62. This represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 0.66% of the company's stock.

Hubbell Price Performance

NYSE HUBB traded up $1.62 on Tuesday, reaching $332.53. 470,812 shares of the company's stock traded hands, compared to its average volume of 494,135. The stock has a market cap of $17.85 billion, a PE ratio of 23.16, a P/E/G ratio of 1.34 and a beta of 0.94. Hubbell Incorporated has a 12 month low of $316.34 and a 12 month high of $481.35. The stock has a 50-day simple moving average of $375.48 and a 200 day simple moving average of $417.88. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98.

Hubbell (NYSE:HUBB - Get Free Report) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $1.41 billion. During the same quarter in the prior year, the company earned $3.69 EPS. The business's revenue was down .9% compared to the same quarter last year. As a group, research analysts predict that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell announced that its board has initiated a stock 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 buy up to 2.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its stock is undervalued.

Hubbell Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date was Friday, February 28th. Hubbell's payout ratio is 36.77%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wells Fargo & Company decreased their target price 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. Barclays dropped their target price on shares of Hubbell from $422.00 to $400.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 26th. Finally, StockNews.com downgraded shares of Hubbell from a "buy" rating to a "hold" rating in a research note on Wednesday, March 26th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently 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.