Hubbell Incorporated (NYSE:HUBB) Shares Sold by O Shaughnessy Asset Management LLC

O Shaughnessy Asset Management LLC reduced its holdings in Hubbell Incorporated (NYSE:HUBB) by 0.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 20,796 shares of the industrial products company’s stock after selling 35 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Hubbell were worth $8,711,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Public Sector Pension Investment Board grew its stake in Hubbell by 14.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 2,348 shares of the industrial products company’s stock worth $1,006,000 after buying an additional 300 shares during the last quarter. Erste Asset Management GmbH bought a new position in shares of Hubbell during the third quarter worth about $5,462,000. Paloma Partners Management Co increased its holdings in shares of Hubbell by 53.8% in the 3rd quarter. Paloma Partners Management Co now owns 6,000 shares of the industrial products company’s stock worth $2,570,000 after acquiring an additional 2,100 shares during the period. Benjamin Edwards Inc. bought a new stake in Hubbell in the 3rd quarter valued at about $426,000. Finally, Beacon Investment Advisory Services Inc. acquired a new position in Hubbell during the 3rd quarter valued at about $203,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on HUBB shares. StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Barclays lowered their target price on Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 26th. Finally, Wells Fargo & Company reduced their price target on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $462.13.

Insider Activity at Hubbell

In other 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 transaction of $452,865.84. Following the completion of the sale, the insider now owns 4,327 shares in the company, valued at approximately $1,683,462.62. This represents a 21.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.66% of the company’s stock.

Hubbell Stock Performance

Shares of NYSE HUBB opened at $331.08 on Tuesday. Hubbell Incorporated has a 1 year low of $316.34 and a 1 year high of $481.35. The firm has a market cap of $17.77 billion, a P/E ratio of 23.06, a PEG ratio of 1.34 and a beta of 0.94. The stock has a fifty day moving average price of $377.84 and a two-hundred day moving average price of $418.38. 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 announced its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, beating 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 analysts’ expectations of $1.41 billion. During the same quarter last year, the business posted $3.69 earnings per share. The company’s quarterly revenue was down .9% on a year-over-year basis. Research analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors 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 dividend on an annualized basis and a dividend yield of 1.59%. Hubbell’s payout ratio is currently 36.77%.

Hubbell declared that its board has authorized a share buyback plan on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the industrial products company to buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

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.