Annis Gardner Whiting Capital Advisors LLC Lowers Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Annis Gardner Whiting Capital Advisors LLC reduced its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 26.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 116 shares of the industrial products company’s stock after selling 41 shares during the period. Annis Gardner Whiting Capital Advisors LLC’s holdings in Hubbell were worth $49,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in HUBB. MassMutual Private Wealth & Trust FSB lifted its position in Hubbell by 12.3% in the fourth 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 Hubbell by 1.2% during the 4th quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company’s stock valued at $884,000 after buying an additional 26 shares during the last quarter. Huntington National Bank grew its holdings in Hubbell by 3.0% in the 4th quarter. Huntington National Bank now owns 886 shares of the industrial products company’s stock worth $371,000 after acquiring an additional 26 shares during the last quarter. Sanctuary Advisors LLC grew its holdings in Hubbell by 0.5% in 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 during the last quarter. Finally, Mindset Wealth Management LLC raised its stake 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 valued at $693,000 after acquiring an additional 27 shares during the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Alyssa R. Flynn sold 1,164 shares of the business’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 transaction of $452,865.84. Following the completion of the transaction, the insider now directly owns 4,327 shares in the company, valued at approximately $1,683,462.62. The trade was a 21.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.66% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on HUBB shares. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a report on Thursday. Barclays reduced 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, March 26th. Finally, Wells Fargo & Company dropped their target price 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. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $462.13.

Hubbell Stock Down 1.8 %

HUBB stock opened at $315.69 on Friday. 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 business has a 50 day moving average of $367.74 and a 200 day moving average of $416.03. Hubbell Incorporated has a twelve month low of $299.43 and a twelve month high of $481.35. The firm has a market cap of $16.94 billion, a PE ratio of 21.98, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95.

Hubbell (NYSE:HUBB) last announced its quarterly 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. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.69 earnings per share. On average, research analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a dividend of $1.32 per share. The ex-dividend date was Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a yield of 1.67%. Hubbell’s dividend payout ratio is currently 36.77%.

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.