Orion Portfolio Solutions LLC Decreases Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Orion Portfolio Solutions LLC trimmed its position in shares of Hubbell Incorporated (NYSE:HUBB) by 2.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,983 shares of the industrial products company’s stock after selling 163 shares during the period. Orion Portfolio Solutions LLC’s holdings in Hubbell were worth $3,344,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of HUBB. MassMutual Private Wealth & Trust FSB raised its position in Hubbell by 12.3% during 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 during the last quarter. JGP Wealth Management LLC raised its holdings in shares of Hubbell by 1.2% during the fourth quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company’s stock valued at $884,000 after acquiring an additional 26 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in shares of Hubbell by 0.5% during the fourth quarter. Sanctuary Advisors LLC now owns 5,422 shares of the industrial products company’s stock valued at $2,313,000 after acquiring an additional 27 shares in the last quarter. Mindset Wealth Management LLC lifted its stake in Hubbell by 1.7% in the fourth quarter. Mindset Wealth Management LLC now owns 1,655 shares of the industrial products company’s stock worth $693,000 after acquiring an additional 27 shares during the period. Finally, BHK Investment Advisors LLC boosted its holdings in Hubbell by 2.3% in the fourth quarter. BHK Investment Advisors LLC now owns 1,351 shares of the industrial products company’s stock valued at $566,000 after acquiring an additional 30 shares in the last quarter. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Hubbell Stock Performance

Hubbell stock opened at $331.08 on Tuesday. Hubbell Incorporated has a twelve month low of $316.34 and a twelve month high of $481.35. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. The company has a market capitalization 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’s 50 day moving average is $377.84 and its 200 day moving average is $418.38.

Hubbell (NYSE:HUBB) last released its 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 firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The company’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the prior year, the firm posted $3.69 earnings per share. On average, equities research analysts predict that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a $1.32 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $5.28 annualized dividend and a dividend yield of 1.59%. Hubbell’s dividend payout ratio is presently 36.77%.

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

Insider Activity

In related news, insider Alyssa R. Flynn sold 1,164 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 4,327 shares of the company’s stock, valued at approximately $1,683,462.62. This represents a 21.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

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.