Rodgers Brothers Inc. Sells 49 Shares of Hubbell Incorporated (NYSE:HUBB)

Rodgers Brothers Inc. reduced its stake in Hubbell Incorporated (NYSE:HUBB) by 0.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,247 shares of the industrial products company’s stock after selling 49 shares during the period. Hubbell makes up about 1.2% of Rodgers Brothers Inc.’s holdings, making the stock its 18th largest holding. Rodgers Brothers Inc.’s holdings in Hubbell were worth $9,319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in HUBB. Vanguard Group Inc. increased its position in shares of Hubbell by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 6,634,705 shares of the industrial products company’s stock valued at $2,779,212,000 after purchasing an additional 65,033 shares during the last quarter. Bank of New York Mellon Corp grew its position in Hubbell by 4.8% during the fourth quarter. Bank of New York Mellon Corp now owns 2,826,327 shares of the industrial products company’s stock valued at $1,183,920,000 after acquiring an additional 129,490 shares during the last quarter. State Street Corp raised its stake in shares of Hubbell by 1.1% during the third 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. Geode Capital Management LLC lifted its holdings in shares of Hubbell by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,254,905 shares of the industrial products company’s stock worth $535,681,000 after acquiring an additional 8,278 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Hubbell in the 4th quarter valued at $195,218,000. Institutional investors own 88.16% of the company’s stock.

Hubbell Trading Down 3.0 %

HUBB opened at $331.68 on Monday. The firm has a market capitalization of $17.80 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 1.34 and a beta of 0.94. Hubbell Incorporated has a one year low of $330.00 and a one year high of $481.35. The business has a 50 day simple moving average of $379.97 and a two-hundred day simple moving average of $418.86. 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 (NYSE:HUBB) last announced its quarterly earnings results 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 analyst estimates of $1.41 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The firm’s revenue was down .9% on a year-over-year basis. During the same quarter last year, the firm posted $3.69 earnings per share. Analysts predict that Hubbell Incorporated will post 17.63 EPS for the current year.

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

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a $1.32 dividend. The ex-dividend date was Friday, February 28th. This represents a $5.28 annualized dividend and a yield of 1.59%. Hubbell’s dividend payout ratio (DPR) is presently 36.77%.

Insider Buying and Selling at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $389.06, for a total transaction of $452,865.84. Following the sale, the insider now owns 4,327 shares of the company’s stock, valued at $1,683,462.62. The trade was a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on HUBB. Wells Fargo & Company lowered 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 note on Tuesday, January 7th. Barclays lowered their target price on Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 26th. Finally, StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a research 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.com, the company currently has a consensus rating of “Hold” and a consensus price target of $462.13.

Hubbell Company 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.