CIBC Private Wealth Group LLC Lowers Stock Position in Hubbell Incorporated (NYSE:HUBB)

CIBC Private Wealth Group LLC reduced its position in Hubbell Incorporated (NYSE:HUBB) by 2.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 125,932 shares of the industrial products company’s stock after selling 3,197 shares during the quarter. CIBC Private Wealth Group LLC owned about 0.23% of Hubbell worth $54,751,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HUBB. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Hubbell by 12.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company’s stock valued at $96,000 after purchasing an additional 25 shares in the last quarter. JGP Wealth Management LLC raised its position in Hubbell by 1.2% in the fourth 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 during the period. Sanctuary Advisors LLC lifted its position in Hubbell by 0.5% during the 4th quarter. Sanctuary Advisors LLC now owns 5,422 shares of the industrial products company’s stock worth $2,313,000 after acquiring an additional 27 shares in the last quarter. Mindset Wealth Management LLC lifted its position in shares of Hubbell by 1.7% during the fourth quarter. Mindset Wealth Management LLC now owns 1,655 shares of the industrial products company’s stock worth $693,000 after purchasing an additional 27 shares in the last quarter. Finally, BHK Investment Advisors LLC grew its holdings in Hubbell by 2.3% during the 4th quarter. BHK Investment Advisors LLC now owns 1,351 shares of the industrial products company’s stock valued at $566,000 after purchasing an additional 30 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Stock Performance

Hubbell stock opened at $331.68 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. Hubbell Incorporated has a 12 month low of $330.00 and a 12 month high of $481.35. The company has a fifty day moving average price of $379.97 and a two-hundred day moving average price of $418.86. The company has a market cap of $17.80 billion, a PE ratio of 23.10, a P/E/G ratio of 1.34 and a beta of 0.94.

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

Hubbell declared that its board has approved a stock repurchase program on Wednesday, February 12th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the industrial products company to buy up to 2.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

Hubbell Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date was Friday, February 28th. Hubbell’s payout ratio is 36.77%.

Insider Buying and Selling

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total value of $452,865.84. Following the sale, the insider now directly owns 4,327 shares of the company’s stock, valued at $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on HUBB shares. StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Wells Fargo & Company decreased their price target 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. Finally, Barclays cut their price target on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 26th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Hubbell has a consensus rating of “Hold” and a consensus price target of $462.13.

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.