Modera Wealth Management LLC Has $11.52 Million Position in Hubbell Incorporated (NYSE:HUBB)

Modera Wealth Management LLC lessened its holdings in Hubbell Incorporated (NYSE:HUBB) by 0.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,512 shares of the industrial products company’s stock after selling 106 shares during the period. Modera Wealth Management LLC’s holdings in Hubbell were worth $11,524,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Nisa Investment Advisors LLC increased its holdings in shares of Hubbell by 5.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 5,601 shares of the industrial products company’s stock valued at $2,399,000 after purchasing an additional 270 shares during the period. First Trust Direct Indexing L.P. increased its stake in Hubbell by 76.7% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,044 shares of the industrial products company’s stock valued at $876,000 after buying an additional 887 shares during the period. US Bancorp DE lifted its position in Hubbell by 1.3% in the 3rd quarter. US Bancorp DE now owns 25,343 shares of the industrial products company’s stock worth $10,855,000 after buying an additional 327 shares in the last quarter. Stephens Inc. AR lifted its position in Hubbell by 19.7% in the 3rd quarter. Stephens Inc. AR now owns 1,663 shares of the industrial products company’s stock worth $712,000 after buying an additional 274 shares in the last quarter. Finally, Gladstone Institutional Advisory LLC grew its holdings in shares of Hubbell by 9.2% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 817 shares of the industrial products company’s stock valued at $350,000 after acquiring an additional 69 shares in the last quarter. 88.16% of the stock is 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 shares were sold at an average price of $389.06, for a total transaction of $452,865.84. Following the sale, the insider now directly owns 4,327 shares in the company, valued at approximately $1,683,462.62. The trade was a 21.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.66% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Barclays increased their price objective on Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft lowered Hubbell from a “buy” rating to a “hold” rating and reduced their price target for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Sanford C. Bernstein initiated coverage on Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price objective on the stock. Wells Fargo & Company reduced their target price on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Finally, StockNews.com upgraded shares of 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, Hubbell has a consensus rating of “Hold” and an average price target of $471.50.

Hubbell Price Performance

NYSE HUBB opened at $371.51 on Friday. The stock has a market capitalization of $19.94 billion, a PE ratio of 25.87, a P/E/G ratio of 1.34 and a beta of 0.92. The stock has a 50-day simple moving average of $413.77 and a 200 day simple moving average of $423.65. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. Hubbell Incorporated has a twelve month low of $346.13 and a twelve month high of $481.35.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data 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. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the previous year, the firm posted $3.69 EPS. The business’s revenue was down .9% compared to the same quarter last year. Research analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current year.

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

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date is Friday, February 28th. Hubbell’s dividend payout ratio is presently 36.77%.

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.