Hubbell Incorporated (NYSE:HUBB) Shares Sold by Vinva Investment Management Ltd

Vinva Investment Management Ltd reduced its position in Hubbell Incorporated (NYSE:HUBB - Free Report) by 58.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 754 shares of the industrial products company's stock after selling 1,051 shares during the quarter. Vinva Investment Management Ltd's holdings in Hubbell were worth $316,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of HUBB. MassMutual Private Wealth & Trust FSB raised its stake in shares of Hubbell by 12.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company's stock valued at $96,000 after acquiring an additional 25 shares in the last quarter. JGP Wealth Management LLC raised its position in Hubbell by 1.2% in the 4th quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company's stock valued at $884,000 after purchasing an additional 26 shares in the last quarter. Sanctuary Advisors LLC grew its position in shares of Hubbell by 0.5% during the fourth quarter. Sanctuary Advisors LLC now owns 5,422 shares of the industrial products company's stock worth $2,313,000 after buying an additional 27 shares in the last quarter. Avestar Capital LLC lifted its stake in Hubbell by 5.1% in the third quarter. Avestar Capital LLC now owns 577 shares of the industrial products company's stock worth $247,000 after acquiring an additional 28 shares during the last quarter. Finally, BHK Investment Advisors LLC grew its holdings in Hubbell by 2.3% during the 4th quarter. BHK Investment Advisors LLC now owns 1,351 shares of the industrial products company's stock worth $566,000 after acquiring an additional 30 shares in the last quarter. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Insiders Place Their Bets

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the firm's stock in a transaction on 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 sale, the insider now 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 can be accessed through the SEC website. 0.66% of the stock is currently owned by insiders.

Hubbell Stock Performance

Hubbell stock traded down $7.08 during midday trading on Wednesday, hitting $346.54. 714,453 shares of the company's stock were exchanged, compared to its average volume of 477,351. The firm's 50 day simple moving average is $385.55 and its 200 day simple moving average is $419.79. Hubbell Incorporated has a 12-month low of $330.32 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 stock has a market cap of $18.60 billion, a price-to-earnings ratio of 24.13, a price-to-earnings-growth ratio of 1.34 and a beta of 0.94.

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 for the quarter, beating 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 company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period last year, the business posted $3.69 EPS. The company's revenue was down .9% on a year-over-year basis. Equities research analysts predict that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell declared that its Board of Directors has authorized a stock repurchase program 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 repurchase up to 2.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a dividend of $1.32 per share. The ex-dividend date was Friday, February 28th. This represents a $5.28 annualized dividend and a yield of 1.52%. Hubbell's dividend payout ratio is currently 36.77%.

Analyst Ratings Changes

HUBB has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft lowered Hubbell from a "buy" rating to a "hold" rating and dropped their target price for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Barclays decreased 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. StockNews.com upgraded shares of Hubbell from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Finally, Wells Fargo & Company cut 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 note on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $462.13.

Hubbell Company 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.