Kentucky Retirement Systems Reduces Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Kentucky Retirement Systems trimmed its position in Hubbell Incorporated (NYSE:HUBB) by 1.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,689 shares of the industrial products company’s stock after selling 51 shares during the quarter. Kentucky Retirement Systems’ holdings in Hubbell were worth $1,545,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in HUBB. Stonebridge Financial Group LLC acquired a new stake in shares of Hubbell in the fourth quarter valued at $30,000. Prospera Private Wealth LLC acquired a new stake in shares of Hubbell during the third quarter worth $33,000. Versant Capital Management Inc raised its position in shares of Hubbell by 64.6% during the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 31 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of Hubbell during the third quarter worth $41,000. Finally, Venturi Wealth Management LLC raised its position in Hubbell by 69.7% during 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 period. Institutional investors and hedge funds own 88.16% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on HUBB shares. Barclays upped their price target on Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and lowered their target price for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Wells Fargo & Company lowered their target price on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Morgan Stanley boosted their target price on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Hubbell currently has a consensus rating of “Hold” and a consensus price target of $471.50.

Hubbell Price Performance

Shares of NYSE:HUBB opened at $376.74 on Monday. The business has a 50 day moving average price of $420.03 and a 200 day moving average price of $424.45. Hubbell Incorporated has a twelve month low of $346.13 and a twelve month high of $481.35. The company has a market cap of $20.22 billion, a price-to-earnings ratio of 26.24, a PEG ratio of 1.34 and a beta of 0.92. 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 (NYSE:HUBB) 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 firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the prior year, the company earned $3.69 EPS. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. Research analysts predict that Hubbell Incorporated will post 17.63 earnings per share for the current year.

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

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid a dividend of $1.32 per share. The ex-dividend date is Friday, February 28th. This represents a $5.28 annualized dividend and a yield of 1.40%. Hubbell’s payout ratio is 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.