Wealth Alliance Decreases Stock Position in Hubbell Incorporated (NYSE:HUBB)

Wealth Alliance lessened its holdings in Hubbell Incorporated (NYSE:HUBB) by 7.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 522 shares of the industrial products company’s stock after selling 39 shares during the quarter. Wealth Alliance’s holdings in Hubbell were worth $219,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of HUBB. Mizuho Securities USA LLC grew its position in Hubbell by 192,421.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock worth $3,418,233,000 after purchasing an additional 7,975,855 shares during the last quarter. Impax Asset Management Group plc boosted its position in Hubbell by 30.3% in the third quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock valued at $514,377,000 after buying an additional 279,654 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Hubbell by 268.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 231,130 shares of the industrial products company’s stock valued at $99,005,000 after buying an additional 168,380 shares during the last quarter. LGT Capital Partners LTD. acquired a new position in Hubbell in the 3rd quarter worth approximately $39,687,000. Finally, Massachusetts Financial Services Co. MA boosted its position in Hubbell by 6.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,417,476 shares of the industrial products company’s stock worth $607,176,000 after purchasing an additional 82,258 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Trading Down 3.3 %

Shares of HUBB stock opened at $376.74 on Friday. Hubbell Incorporated has a fifty-two week low of $346.13 and a fifty-two week high of $481.35. The company has a 50 day moving average price of $420.03 and a 200 day moving average price of $423.99. The stock has a market capitalization of $20.22 billion, a P/E ratio of 26.24, a price-to-earnings-growth ratio of 1.34 and a beta of 0.92. 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 posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $4.02 by $0.08. The business had revenue of $1.33 billion for 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 company’s revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.69 earnings per share. Equities research analysts predict that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

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

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a $1.32 dividend. The ex-dividend date is Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.40%. Hubbell’s payout ratio is 36.77%.

Wall Street Analyst Weigh In

HUBB has been the subject of several analyst reports. Wells Fargo & Company decreased 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 note on Tuesday, January 7th. Sanford C. Bernstein began coverage on Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price target for the company. Deutsche Bank Aktiengesellschaft lowered Hubbell from a “buy” rating to a “hold” rating and dropped their price objective for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Morgan Stanley increased their price objective on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Barclays boosted their target price on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Hubbell has an average rating of “Hold” and a consensus price target of $471.50.

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.