Vaughan Nelson Investment Management L.P. Sells 3,100 Shares of Hubbell Incorporated (NYSE:HUBB)

Vaughan Nelson Investment Management L.P. reduced its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 4.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 68,195 shares of the industrial products company’s stock after selling 3,100 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Hubbell were worth $28,566,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the stock. OLD National Bancorp IN grew its stake in Hubbell by 3.8% during the third quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company’s stock worth $255,000 after buying an additional 22 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in Hubbell by 12.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company’s stock worth $96,000 after purchasing an additional 25 shares during the last quarter. JGP Wealth Management LLC boosted its holdings in shares of Hubbell by 1.2% in the 4th quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company’s stock valued at $884,000 after purchasing an additional 26 shares in the last quarter. Avestar Capital LLC increased its stake in shares of Hubbell by 5.1% in the 3rd quarter. Avestar Capital LLC now owns 577 shares of the industrial products company’s stock valued at $247,000 after purchasing an additional 28 shares during the last quarter. Finally, Ballentine Partners LLC raised its holdings in shares of Hubbell by 3.2% during the 3rd quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company’s stock worth $410,000 after buying an additional 30 shares in the last quarter. Institutional investors own 88.16% of the company’s stock.

Wall Street Analysts Forecast Growth

HUBB has been the topic of a number of recent analyst reports. Sanford C. Bernstein assumed coverage on Hubbell in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price on the stock. Mizuho lifted their price target on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Morgan Stanley boosted their target price on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Barclays increased 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. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $471.50.

Hubbell Price Performance

HUBB stock opened at $401.04 on Friday. The company has a market capitalization of $21.52 billion, a P/E ratio of 27.93, a PEG ratio of 1.36 and a beta of 0.92. The company has a fifty day moving average price of $433.34 and a 200-day moving average price of $422.15. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.64. Hubbell Incorporated has a 52-week low of $346.13 and a 52-week high of $481.35.

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, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $1.41 billion. During the same period last year, the company earned $3.69 EPS. Hubbell’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, equities analysts expect that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Dividend Announcement

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

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.