Hubbell Incorporated (NYSE:HUBB) Shares Sold by Sei Investments Co.

Sei Investments Co. cut its position in Hubbell Incorporated (NYSE:HUBB - Free Report) by 4.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 91,402 shares of the industrial products company's stock after selling 4,637 shares during the quarter. Sei Investments Co. owned approximately 0.17% of Hubbell worth $38,291,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in HUBB. Creative Financial Designs Inc. ADV boosted its holdings in shares of Hubbell by 85.7% in the fourth 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 period. Groupama Asset Managment boosted its stake in Hubbell by 17.0% during the 3rd 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 purchased a new position in Hubbell during the 4th quarter worth $30,000. Versant Capital Management Inc increased its stake in Hubbell by 64.6% in the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company's stock valued at $33,000 after purchasing an additional 31 shares during the period. Finally, Venturi Wealth Management LLC raised its holdings in shares of Hubbell by 69.7% in the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company's stock valued at $54,000 after buying an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company's stock.

Remove Ads

Insiders Place Their Bets

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 shares were sold at an average price of $389.06, for a total value of $452,865.84. Following the sale, the insider now directly owns 4,327 shares of the company's stock, valued at approximately $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on HUBB. Wells Fargo & Company lowered their price target on Hubbell from $455.00 to $450.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 7th. StockNews.com downgraded Hubbell from a "buy" rating to a "hold" rating in a research note on Wednesday. Finally, Barclays dropped their target price on Hubbell from $422.00 to $400.00 and set an "equal weight" rating on the stock in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Hubbell presently has a consensus rating of "Hold" and an average target price of $462.13.

Hubbell Price Performance

HUBB stock traded down $10.32 during trading on Friday, reaching $331.68. 387,277 shares of the company were exchanged, compared to its average volume of 492,604. 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 stock's 50 day moving average price is $379.97 and its 200 day moving average price is $418.41. Hubbell Incorporated has a 52-week low of $330.32 and a 52-week high of $481.35. The company has a market cap of $17.80 billion, a P/E ratio of 23.10, a PEG ratio of 1.34 and a beta of 0.94.

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

Hubbell declared that its Board of Directors has authorized a share buyback plan on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Hubbell Dividend Announcement

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

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.