Hubbell Incorporated (NYSE:HUBB) Shares Sold by Sandhill Capital Partners LLC

Sandhill Capital Partners LLC lessened its position in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 6.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 115,176 shares of the industrial products company's stock after selling 8,070 shares during the quarter. Hubbell accounts for 3.8% of Sandhill Capital Partners LLC's portfolio, making the stock its 9th largest position. Sandhill Capital Partners LLC owned approximately 0.21% of Hubbell worth $48,246,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of HUBB. Norges Bank acquired a new position in shares of Hubbell in the 4th quarter valued at about $195,218,000. Raymond James Financial Inc. acquired a new position in Hubbell in the fourth quarter valued at approximately $63,647,000. Bank of New York Mellon Corp boosted its position in Hubbell by 4.8% in the 4th quarter. Bank of New York Mellon Corp now owns 2,826,327 shares of the industrial products company's stock worth $1,183,920,000 after purchasing an additional 129,490 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Hubbell during the 4th quarter worth approximately $40,533,000. Finally, Massachusetts Financial Services Co. MA increased its holdings in shares of Hubbell by 6.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,510,430 shares of the industrial products company's stock valued at $632,704,000 after purchasing an additional 92,954 shares in the last quarter. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

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 transaction, the insider now owns 4,327 shares of the company's stock, valued at approximately $1,683,462.62. The trade was a 21.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.66% of the stock is owned by company insiders.

Hubbell Price Performance

Shares of HUBB traded up $11.89 during trading hours on Friday, hitting $353.73. 1,052,242 shares of the stock were exchanged, compared to its average volume of 514,103. The stock's 50-day moving average price is $356.69 and its two-hundred day moving average price is $411.80. Hubbell Incorporated has a 12-month low of $299.43 and a 12-month 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. The company has a market cap of $18.98 billion, a price-to-earnings ratio of 24.63, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95.

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 (EPS) for the quarter, topping analysts' consensus estimates of $4.02 by $0.08. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The company's revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.69 earnings per share. Research analysts expect that Hubbell Incorporated will post 17.63 earnings per share for the current year.

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

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date was Friday, February 28th. Hubbell's dividend payout ratio (DPR) is currently 36.77%.

Analyst Upgrades and Downgrades

Several research firms recently commented on HUBB. Wells Fargo & Company dropped their price target on shares of Hubbell from $455.00 to $450.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 7th. JPMorgan Chase & Co. dropped their target price on Hubbell from $430.00 to $352.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. StockNews.com lowered Hubbell from a "buy" rating to a "hold" rating in a report on Friday. Finally, Barclays reduced their target price 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 equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $449.38.

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.