Commonwealth Equity Services LLC Sells 32 Shares of Hubbell Incorporated (NYSE:HUBB)

Commonwealth Equity Services LLC lowered its stake in Hubbell Incorporated (NYSE:HUBB) by 0.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,724 shares of the industrial products company’s stock after selling 32 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Hubbell were worth $4,492,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Groupama Asset Managment boosted its position 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 acquiring an additional 1,010 shares during the period. Stonebridge Financial Group LLC purchased a new stake in Hubbell in the 4th quarter worth approximately $30,000. Versant Capital Management Inc boosted its holdings in Hubbell by 64.6% in the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 31 shares during the period. Venturi Wealth Management LLC grew its position in shares of 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 purchasing an additional 53 shares in the last quarter. Finally, Golden State Wealth Management LLC bought a new position in shares of Hubbell in the fourth quarter worth $69,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Barclays dropped their price objective on Hubbell from $475.00 to $422.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. Wells Fargo & Company dropped their price target 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. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and dropped their target price for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $464.88.

Hubbell Stock Performance

Shares of NYSE HUBB opened at $338.08 on Monday. The stock’s 50-day moving average is $388.41 and its 200 day moving average is $420.05. The stock has a market cap of $18.14 billion, a price-to-earnings ratio of 23.54, a P/E/G ratio of 1.34 and a beta of 0.94. Hubbell Incorporated has a 1-year low of $330.32 and a 1-year high of $481.35. 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 quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 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 firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period last year, the firm posted $3.69 earnings per share. The business’s revenue was down .9% compared to the same quarter last year. On average, sell-side analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a dividend of $1.32 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $5.28 annualized dividend and a yield of 1.56%. Hubbell’s payout ratio is 36.77%.

Hubbell announced that its board has approved a share buyback plan on Wednesday, February 12th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the industrial products company to repurchase up to 2.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Activity

In other news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total transaction 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. This represents a 21.20 % decrease in their ownership of the stock. 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 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.