Swiss National Bank Reduces Stock Position in Hubbell Incorporated (NYSE:HUBB)

Swiss National Bank trimmed its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 4.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 151,600 shares of the industrial products company’s stock after selling 7,700 shares during the quarter. Swiss National Bank’s holdings in Hubbell were worth $63,504,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Mizuho Securities USA LLC increased its position in 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 valued at $3,418,233,000 after acquiring an additional 7,975,855 shares during the last quarter. Bank of New York Mellon Corp raised its position in Hubbell by 4.8% in 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 purchasing an additional 129,490 shares during the period. State Street Corp lifted its stake in Hubbell by 1.1% in the third quarter. State Street Corp now owns 2,092,215 shares of the industrial products company’s stock worth $896,200,000 after purchasing an additional 22,507 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Hubbell by 6.2% during 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 buying an additional 82,258 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Hubbell by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,254,905 shares of the industrial products company’s stock valued at $535,681,000 after buying an additional 8,278 shares during the last quarter. Institutional investors own 88.16% of the company’s stock.

Hubbell Trading Up 2.9 %

NYSE:HUBB opened at $341.52 on Friday. The firm has a 50-day simple moving average of $397.69 and a 200-day simple moving average of $421.57. Hubbell Incorporated has a one year low of $330.32 and a one year high of $481.35. The firm has a market cap of $18.33 billion, a P/E ratio of 23.78, a P/E/G ratio of 1.34 and a beta of 0.94. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $4.02 by $0.08. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. Hubbell’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.69 earnings per share. Equities analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

The company also recently announced 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. The ex-dividend date is Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a yield of 1.55%. Hubbell’s dividend payout ratio is presently 36.77%.

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell 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 transaction, the insider now directly 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.