Wells Fargo & Company MN Raises Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Wells Fargo & Company MN lifted its holdings in Hubbell Incorporated (NYSE:HUBB - Free Report) by 7.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 125,775 shares of the industrial products company's stock after purchasing an additional 8,662 shares during the period. Wells Fargo & Company MN owned about 0.23% of Hubbell worth $52,686,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in HUBB. Prudential PLC grew its holdings in Hubbell by 45.5% during the fourth quarter. Prudential PLC now owns 25,082 shares of the industrial products company's stock valued at $10,507,000 after purchasing an additional 7,846 shares during the period. DF Dent & Co. Inc. purchased a new position in shares of Hubbell during the 4th quarter valued at about $392,000. ExodusPoint Capital Management LP bought a new position in shares of Hubbell during the 4th quarter valued at approximately $5,017,000. Grant Private Wealth Management Inc purchased a new stake in Hubbell in the 4th quarter worth approximately $784,000. Finally, World Investment Advisors purchased a new stake in Hubbell in the 4th quarter worth approximately $214,000. Hedge funds and other institutional investors own 88.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on HUBB shares. Wells Fargo & Company dropped their price target on shares of Hubbell from $455.00 to $450.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 7th. StockNews.com downgraded shares of Hubbell from a "buy" rating to a "hold" rating in a report on Friday. Barclays decreased their price target on Hubbell from $422.00 to $400.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. dropped their price objective on Hubbell from $430.00 to $352.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $449.38.

Insider Activity at Hubbell

In related 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 directly owns 4,327 shares in the company, valued at $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.66% of the stock is owned by insiders.

Hubbell Price Performance

Shares of Hubbell stock traded down $0.78 during trading on Tuesday, reaching $349.73. 132,536 shares of the stock traded hands, compared to its average volume of 514,616. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. The company has a market capitalization of $18.77 billion, a price-to-earnings ratio of 24.36, a P/E/G ratio of 1.34 and a beta of 0.95. Hubbell Incorporated has a 52-week low of $299.43 and a 52-week high of $481.35. The business has a fifty day simple moving average of $355.69 and a two-hundred day simple moving average of $411.25.

Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly 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. 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 firm's revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the business posted $3.69 EPS. Sell-side analysts expect that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend was Friday, February 28th. Hubbell's dividend payout ratio is 36.77%.

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