PNC Financial Services Group Inc. Has $146.77 Million Holdings in Hubbell Incorporated (NYSE:HUBB)

PNC Financial Services Group Inc. raised its position in Hubbell Incorporated (NYSE:HUBB) by 1.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 350,367 shares of the industrial products company’s stock after purchasing an additional 3,586 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Hubbell were worth $146,765,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Mizuho Securities USA LLC grew its holdings in shares of Hubbell by 192,421.1% during the third quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock worth $3,418,233,000 after buying an additional 7,975,855 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Hubbell by 4.8% during the 4th quarter. Bank of New York Mellon Corp now owns 2,826,327 shares of the industrial products company’s stock worth $1,183,920,000 after acquiring an additional 129,490 shares during the last quarter. State Street Corp grew its stake in shares of Hubbell by 1.1% during the 3rd quarter. State Street Corp now owns 2,092,215 shares of the industrial products company’s stock worth $896,200,000 after acquiring an additional 22,507 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Hubbell by 6.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,417,476 shares of the industrial products company’s stock valued at $607,176,000 after purchasing an additional 82,258 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Hubbell by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,254,905 shares of the industrial products company’s stock worth $535,681,000 after purchasing an additional 8,278 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors.

Hubbell Price Performance

NYSE:HUBB opened at $355.05 on Friday. Hubbell Incorporated has a 12-month low of $337.97 and a 12-month high of $481.35. The firm has a market capitalization of $19.05 billion, a price-to-earnings ratio of 24.73, a P/E/G ratio of 1.34 and a beta of 0.94. The stock’s 50 day moving average price is $406.11 and its two-hundred day moving average price is $423.15. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44.

Hubbell (NYSE:HUBB) last posted its earnings results 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. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. 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 previous year, the firm earned $3.69 EPS. The firm’s revenue was down .9% compared to the same quarter last year. On average, analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Friday, February 28th. Hubbell’s dividend payout ratio is presently 36.77%.

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

Analyst Ratings Changes

HUBB has been the subject of a number of analyst reports. Wells Fargo & Company decreased 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 report on Tuesday, January 7th. Barclays decreased their price objective on Hubbell from $475.00 to $422.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft lowered Hubbell from a “buy” rating to a “hold” rating and dropped their target price for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. Finally, StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $464.88.

Insider Buying and Selling

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 transaction, the insider now owns 4,327 shares in the company, valued at approximately $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.66% of the stock is currently owned by insiders.

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.