Hubbell Incorporated (NYSE:HUBB) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. lowered its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 23.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,237 shares of the industrial products company’s stock after selling 3,411 shares during the quarter. Advisors Asset Management Inc.’s holdings in Hubbell were worth $4,707,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of HUBB. Creative Financial Designs Inc. ADV increased its stake in Hubbell by 85.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 30 shares in the last quarter. Groupama Asset Managment grew its holdings in shares of Hubbell by 17.0% during 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 during the last quarter. Stonebridge Financial Group LLC acquired a new position in shares of Hubbell in the 4th quarter valued at $30,000. Prospera Private Wealth LLC purchased a new position in Hubbell in the 3rd quarter worth $33,000. Finally, Versant Capital Management Inc lifted its position in Hubbell by 64.6% during the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 31 shares during the period. 88.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HUBB has been the topic of a number of research reports. Barclays cut their price objective on Hubbell from $475.00 to $422.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a “buy” rating to a “hold” rating and dropped their price objective for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Finally, 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 report on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Hubbell has an average rating of “Hold” and an average target price of $464.88.

Insider Activity

In related news, insider Alyssa R. Flynn sold 1,164 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total value of $452,865.84. Following the completion of the sale, the insider now owns 4,327 shares of the company’s stock, 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 can be accessed through this hyperlink. Insiders own 0.78% of the company’s stock.

Hubbell Stock Up 1.8 %

HUBB stock opened at $342.52 on Thursday. Hubbell Incorporated has a one year low of $330.32 and a one year high of $481.35. 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 firm’s fifty day moving average is $391.96 and its 200 day moving average is $420.44. The firm has a market cap of $18.38 billion, a PE ratio of 23.85, a P/E/G ratio of 1.34 and a beta of 0.95.

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. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the prior year, the company posted $3.69 EPS. The company’s revenue for the quarter was down .9% on a year-over-year basis. On average, research analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid 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 payout ratio is 36.77%.

Hubbell declared that its board has authorized a stock repurchase program on Wednesday, February 12th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the industrial products company to reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

About Hubbell

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.