Hubbell Incorporated (NYSE:HUBB) Holdings Cut by Sheaff Brock Investment Advisors LLC

Sheaff Brock Investment Advisors LLC reduced its stake in Hubbell Incorporated (NYSE:HUBB - Free Report) by 8.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,423 shares of the industrial products company's stock after selling 1,952 shares during the quarter. Hubbell makes up approximately 0.8% of Sheaff Brock Investment Advisors LLC's investment portfolio, making the stock its 29th largest position. Sheaff Brock Investment Advisors LLC's holdings in Hubbell were worth $8,974,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of HUBB. Creative Planning increased its holdings in shares of Hubbell by 19.3% during the 3rd quarter. Creative Planning now owns 4,144 shares of the industrial products company's stock worth $1,775,000 after buying an additional 671 shares during the last quarter. Blue Trust Inc. increased its stake in Hubbell by 61.9% during the third quarter. Blue Trust Inc. now owns 518 shares of the industrial products company's stock worth $222,000 after acquiring an additional 198 shares during the last quarter. Raymond James & Associates increased its stake in Hubbell by 1.6% during the third quarter. Raymond James & Associates now owns 60,582 shares of the industrial products company's stock worth $25,950,000 after acquiring an additional 931 shares during the last quarter. Resonant Capital Advisors LLC raised its position in Hubbell by 7.0% in the third quarter. Resonant Capital Advisors LLC now owns 716 shares of the industrial products company's stock valued at $307,000 after purchasing an additional 47 shares during the period. Finally, OLD National Bancorp IN lifted its stake in shares of Hubbell by 3.8% in the 3rd quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company's stock valued at $255,000 after purchasing an additional 22 shares during the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HUBB. Deutsche Bank Aktiengesellschaft downgraded Hubbell from a "buy" rating to a "hold" rating and cut their price objective for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. Sanford C. Bernstein started coverage on shares of Hubbell in a research note on Tuesday, November 5th. They issued an "outperform" rating and a $535.00 price target on the stock. StockNews.com raised shares of Hubbell from a "hold" rating to a "buy" rating in a research report on Monday. Morgan Stanley upped their price target on Hubbell from $407.00 to $445.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. Finally, Barclays lifted their price objective on Hubbell from $402.00 to $475.00 and gave the company an "equal weight" rating in a research note on Thursday, December 5th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $471.50.

Hubbell Price Performance

HUBB traded down $3.30 during midday trading on Wednesday, reaching $392.25. 330,246 shares of the company's stock were exchanged, compared to its average volume of 626,189. The business's 50-day moving average price is $422.89 and its 200 day moving average price is $423.71. The stock has a market capitalization of $21.05 billion, a PE ratio of 27.32, a P/E/G ratio of 1.35 and a beta of 0.92. Hubbell Incorporated has a 1-year low of $346.13 and a 1-year high of $481.35. 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 posted its quarterly earnings data 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. The business had revenue of $1.33 billion for 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 was down .9% on a year-over-year basis. During the same quarter last year, the firm earned $3.69 earnings per share. As a group, equities analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a $1.32 dividend. The ex-dividend date is Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a yield of 1.35%. Hubbell's dividend payout ratio is currently 36.77%.

Hubbell announced that its board has initiated a stock repurchase 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 purchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

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.