Condor Capital Management Sells 107 Shares of Hubbell Incorporated (NYSE:HUBB)

Condor Capital Management cut its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,271 shares of the industrial products company’s stock after selling 107 shares during the quarter. Condor Capital Management’s holdings in Hubbell were worth $2,208,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HUBB. Creative Financial Designs Inc. ADV increased its stake in shares of Hubbell by 85.7% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock valued at $27,000 after buying an additional 30 shares in the last quarter. Groupama Asset Managment increased its stake in shares of Hubbell by 17.0% in the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock valued at $30,000 after buying an additional 1,010 shares in the last quarter. 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 in the third quarter valued at $33,000. Finally, Versant Capital Management Inc increased its stake 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 valued at $33,000 after buying an additional 31 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $389.06, for a total transaction of $452,865.84. Following the transaction, the insider now owns 4,327 shares in the company, valued at $1,683,462.62. The trade was a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.78% of the stock is currently owned by company insiders.

Hubbell Price Performance

Hubbell stock opened at $342.52 on Thursday. The firm has a market capitalization of $18.38 billion, a P/E ratio of 23.85, a PEG ratio of 1.34 and a beta of 0.95. Hubbell Incorporated has a 1 year low of $330.32 and a 1 year high of $481.35. The business has a 50-day moving average of $391.96 and a 200-day moving average of $420.44. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.02 by $0.08. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.41 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The company’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the company earned $3.69 EPS. On average, equities analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell declared that its board has authorized a stock buyback plan on Wednesday, February 12th that allows the company to buyback $500.00 million in outstanding 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 often a sign that the company’s board of directors believes its stock is undervalued.

Hubbell Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend was Friday, February 28th. Hubbell’s dividend payout ratio (DPR) is presently 36.77%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HUBB. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Barclays lowered their price objective on Hubbell from $475.00 to $422.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. Wells Fargo & Company lowered their price objective on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft lowered Hubbell from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Hubbell presently has a consensus rating of “Hold” and an average target price of $464.88.

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.