Sheaff Brock Investment Advisors LLC Cuts Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Sheaff Brock Investment Advisors LLC reduced its position in Hubbell Incorporated (NYSE:HUBB) by 8.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,423 shares of the industrial products company’s stock after selling 1,952 shares during the period. Hubbell comprises approximately 0.8% of Sheaff Brock Investment Advisors LLC’s holdings, making the stock its 29th largest position. Sheaff Brock Investment Advisors LLC’s holdings in Hubbell were worth $8,974,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the company. Allworth Financial LP boosted its holdings in shares of Hubbell by 121.7% during the 4th quarter. Allworth Financial LP now owns 532 shares of the industrial products company’s stock valued at $243,000 after acquiring an additional 292 shares during the last quarter. Principal Securities Inc. boosted its holdings in Hubbell by 36.6% in the fourth quarter. Principal Securities Inc. now owns 280 shares of the industrial products company’s stock worth $117,000 after purchasing an additional 75 shares during the last quarter. Everhart Financial Group Inc. boosted its holdings in Hubbell by 7.9% in the fourth quarter. Everhart Financial Group Inc. now owns 1,876 shares of the industrial products company’s stock worth $786,000 after purchasing an additional 137 shares during the last quarter. Quaero Capital S.A. grew its position in Hubbell by 4.3% in the 4th quarter. Quaero Capital S.A. now owns 5,371 shares of the industrial products company’s stock worth $2,250,000 after purchasing an additional 223 shares during the period. Finally, Nations Financial Group Inc. IA ADV raised its stake in Hubbell by 3.1% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 5,652 shares of the industrial products company’s stock valued at $2,368,000 after buying an additional 168 shares during the last quarter. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on HUBB. StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th. Barclays boosted their price target on Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Morgan Stanley upped their price target on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Wells Fargo & Company dropped their price objective on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Finally, Sanford C. Bernstein assumed coverage on shares of Hubbell in a report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 target price for the company. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $471.50.

Hubbell Trading Down 0.8 %

Shares of Hubbell stock opened at $389.93 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.64. The company has a fifty day moving average of $426.51 and a 200 day moving average of $423.46. The company has a market capitalization of $20.93 billion, a P/E ratio of 27.15, a P/E/G ratio of 1.36 and a beta of 0.92. Hubbell Incorporated has a fifty-two week low of $346.13 and a fifty-two week high of $481.35.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $4.02 by $0.08. The firm 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 business’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.69 earnings per share. On average, sell-side analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be given a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.35%. Hubbell’s dividend payout ratio is 36.77%.

Hubbell announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is 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.