Sequoia Financial Advisors LLC Acquires 357 Shares of Hubbell Incorporated (NYSE:HUBB)

Sequoia Financial Advisors LLC raised its position in Hubbell Incorporated (NYSE:HUBB) by 6.1% during the fourth quarter, Holdings Channel reports. The fund owned 6,246 shares of the industrial products company’s stock after acquiring an additional 357 shares during the period. Sequoia Financial Advisors LLC’s holdings in Hubbell were worth $2,616,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of HUBB. Groupama Asset Managment lifted its holdings in 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 acquiring an additional 1,010 shares during the period. Stonebridge Financial Group LLC purchased a new stake in shares of Hubbell during the fourth quarter worth about $30,000. Prospera Private Wealth LLC purchased a new stake in shares of Hubbell during the third quarter worth about $33,000. Versant Capital Management Inc grew 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 in the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in Hubbell by 69.7% during the 4th 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 in the last quarter. Institutional investors own 88.16% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on HUBB. Barclays cut their price target on Hubbell from $475.00 to $422.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Wells Fargo & Company decreased their price target on 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, Deutsche Bank Aktiengesellschaft lowered Hubbell from a “buy” rating to a “hold” rating and decreased their target price for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $464.88.

Insider Activity

In related news, insider Alyssa R. Flynn sold 1,164 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 4,327 shares of the company’s stock, valued at approximately $1,683,462.62. This represents a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.66% of the company’s stock.

Hubbell Stock Up 2.9 %

Hubbell stock opened at $341.52 on Friday. 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 business’s 50-day simple moving average is $397.69 and its two-hundred day simple moving average is $421.34. The company has a market cap of $18.33 billion, a PE ratio of 23.78, a PEG ratio of 1.34 and a beta of 0.94. Hubbell Incorporated has a fifty-two week low of $330.32 and a fifty-two week high of $481.35.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) 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 company’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.69 EPS. Equities analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a $1.32 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $5.28 annualized dividend and a dividend yield of 1.55%. Hubbell’s dividend payout ratio (DPR) is presently 36.77%.

Hubbell declared that its board has authorized a share repurchase program on Wednesday, February 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the industrial products company to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

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.