Victory Capital Management Inc. Sells 9,151 Shares of Hubbell Incorporated (NYSE:HUBB)

Victory Capital Management Inc. cut its holdings in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 2.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 307,490 shares of the industrial products company's stock after selling 9,151 shares during the period. Victory Capital Management Inc. owned approximately 0.57% of Hubbell worth $128,804,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Groupama Asset Managment boosted its stake in Hubbell by 17.0% in 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 acquired a new stake in Hubbell in the fourth quarter valued at approximately $30,000. Prospera Private Wealth LLC acquired a new stake in shares of Hubbell in the 3rd quarter valued at $33,000. Versant Capital Management Inc lifted its position in shares of Hubbell by 64.6% in the fourth 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, Ashton Thomas Securities LLC bought a new stake in Hubbell during the third quarter worth approximately $41,000. 88.16% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company decreased their price target on shares of Hubbell from $455.00 to $450.00 and set an "equal weight" rating for the company in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a "buy" rating to a "hold" rating and lowered their price target for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Barclays dropped their target price on Hubbell from $475.00 to $422.00 and set an "equal weight" rating for the company in a report on Monday, March 3rd. Finally, StockNews.com raised shares of Hubbell from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $464.88.

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Hubbell Trading Up 2.5 %

HUBB stock traded up $8.77 during midday trading on Friday, reaching $355.05. The stock had a trading volume of 1,078,895 shares, compared to its average volume of 467,296. The firm has a market cap of $19.05 billion, a price-to-earnings ratio of 24.73, a PEG ratio of 1.34 and a beta of 0.94. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. Hubbell Incorporated has a twelve month low of $337.97 and a twelve month high of $481.35. The business has a fifty day simple moving average of $406.11 and a two-hundred day simple moving average of $423.15.

Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 EPS 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 the consensus estimate of $1.41 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The firm's revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the company posted $3.69 earnings per share. As a group, research analysts expect that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Friday, February 28th. Hubbell's dividend payout ratio (DPR) is presently 36.77%.

Hubbell declared that its board has approved a share buyback program on Wednesday, February 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the industrial products company to repurchase up to 2.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total transaction 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.66% of the company's stock.

About Hubbell

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.