SRN Advisors LLC Sells 395 Shares of Hubbell Incorporated (NYSE:HUBB)

SRN Advisors LLC lessened its holdings in Hubbell Incorporated (NYSE:HUBB) by 9.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,618 shares of the industrial products company’s stock after selling 395 shares during the quarter. Hubbell accounts for 1.3% of SRN Advisors LLC’s investment portfolio, making the stock its 12th largest position. SRN Advisors LLC’s holdings in Hubbell were worth $1,516,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in HUBB. Stonebridge Financial Group LLC purchased a new stake in Hubbell during the fourth quarter valued at about $30,000. Prospera Private Wealth LLC purchased a new position in Hubbell in the 3rd quarter valued at approximately $33,000. Versant Capital Management Inc raised its holdings in Hubbell by 64.6% during the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 31 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of Hubbell during the third quarter worth $41,000. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Hubbell by 69.7% in the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 53 shares during the period. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell stock in a transaction that occurred 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 transaction, the insider now directly owns 4,327 shares of the company’s stock, valued at $1,683,462.62. The trade was a 21.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is currently owned by insiders.

Hubbell Stock Performance

NYSE HUBB opened at $377.81 on Thursday. 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 company has a fifty day moving average of $416.93 and a 200-day moving average of $424.37. Hubbell Incorporated has a 52-week low of $346.13 and a 52-week high of $481.35. The company has a market capitalization of $20.28 billion, a P/E ratio of 26.31, a P/E/G ratio of 1.34 and a beta of 0.92.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the previous year, the company posted $3.69 EPS. Hubbell’s quarterly revenue was down .9% compared to the same quarter last year. As a group, equities research analysts predict that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell declared that its Board of Directors has approved a stock repurchase program on Wednesday, February 12th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the industrial products company to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

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 paid a $1.32 dividend. The ex-dividend date is Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.40%. Hubbell’s dividend payout ratio (DPR) is 36.77%.

Analyst Upgrades and Downgrades

Several research analysts have commented on HUBB shares. Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and cut their target price for the stock from $493.00 to $473.00 in a research note on Tuesday, November 26th. Wells Fargo & Company cut their price objective 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. Morgan Stanley upped their target price on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Barclays increased their target price on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Finally, Sanford C. Bernstein initiated coverage on shares of Hubbell in a research report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price target for the company. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $471.50.

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.