Hubbell Incorporated (NYSE:HUBB) Shares Sold by FourThought Financial Partners LLC

FourThought Financial Partners LLC lessened its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 1.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 4,462 shares of the industrial products company’s stock after selling 54 shares during the period. FourThought Financial Partners LLC’s holdings in Hubbell were worth $1,869,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Groupama Asset Managment raised its stake in Hubbell by 17.0% during the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 1,010 shares during the period. Stonebridge Financial Group LLC acquired a new position in shares of Hubbell in the fourth quarter worth $30,000. Prospera Private Wealth LLC purchased a new position in Hubbell in the third quarter valued at about $33,000. Versant Capital Management Inc grew its stake in shares of 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 buying an additional 31 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in Hubbell during the third quarter valued at approximately $41,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on HUBB shares. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and lowered their price target for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. Wells Fargo & Company dropped their target price on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Barclays upped their price target on Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Finally, Sanford C. Bernstein started coverage on shares of Hubbell in a research note on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $471.50.

Insider Transactions at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $389.06, for a total transaction of $452,865.84. Following the sale, the insider now directly owns 4,327 shares in the company, valued at approximately $1,683,462.62. The trade was a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.66% of the stock is currently owned by insiders.

Hubbell Trading Down 2.5 %

HUBB opened at $368.20 on Tuesday. The stock has a market capitalization of $19.76 billion, a P/E ratio of 25.64, a P/E/G ratio of 1.34 and a beta of 0.92. 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 Incorporated has a 12 month low of $346.13 and a 12 month high of $481.35. The firm’s fifty day simple moving average is $418.28 and its 200 day simple moving average is $424.41.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, beating 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 quarter last year, the firm earned $3.69 EPS. Hubbell’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, research analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Friday, February 28th. Hubbell’s dividend payout ratio is currently 36.77%.

Hubbell declared that its Board of Directors has authorized a stock buyback plan on Wednesday, February 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board 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.