Premier Fund Managers Ltd Sells 1,800 Shares of Hubbell Incorporated (NYSE:HUBB)

Premier Fund Managers Ltd cut its stake in Hubbell Incorporated (NYSE:HUBB) by 13.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,850 shares of the industrial products company’s stock after selling 1,800 shares during the quarter. Premier Fund Managers Ltd’s holdings in Hubbell were worth $4,963,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Hubbell by 1.0% in 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 period. Bank of New York Mellon Corp raised its position in shares of Hubbell by 4.8% in the fourth quarter. Bank of New York Mellon Corp now owns 2,826,327 shares of the industrial products company’s stock worth $1,183,920,000 after buying an additional 129,490 shares in the last quarter. State Street Corp boosted its stake in Hubbell by 1.1% during the third quarter. State Street Corp now owns 2,092,215 shares of the industrial products company’s stock valued at $896,200,000 after buying an additional 22,507 shares during the period. Geode Capital Management LLC grew its position in Hubbell by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,254,905 shares of the industrial products company’s stock worth $535,681,000 after buying an additional 8,278 shares in the last quarter. Finally, Norges Bank bought a new position in Hubbell in the 4th quarter worth about $195,218,000. 88.16% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Alyssa R. Flynn sold 1,164 shares of the business’s 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 completion of the transaction, the insider now directly owns 4,327 shares of the company’s stock, valued at approximately $1,683,462.62. The trade was a 21.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.66% of the company’s stock.

Hubbell Stock Performance

Shares of HUBB opened at $342.04 on Friday. Hubbell Incorporated has a 52 week low of $330.32 and a 52 week high of $481.35. The stock has a market cap of $18.36 billion, a price-to-earnings ratio of 23.82, a PEG ratio of 1.34 and a beta of 0.94. The business has a 50-day simple moving average of $382.09 and a two-hundred day simple moving average of $418.74. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44.

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

Hubbell announced that its board has authorized a share 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 shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a dividend of $1.32 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a yield of 1.54%. Hubbell’s payout ratio is 36.77%.

Analysts Set New Price Targets

HUBB has been the topic of several research reports. Barclays lowered their price objective on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Wells Fargo & Company dropped their price target on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Finally, StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Hubbell has an average rating of “Hold” and an average price target of $462.13.

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.