Kentucky Retirement Systems Cuts Position in Hubbell Incorporated (NYSE:HUBB)

Kentucky Retirement Systems decreased its holdings in Hubbell Incorporated (NYSE:HUBB) by 1.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,689 shares of the industrial products company’s stock after selling 51 shares during the quarter. Kentucky Retirement Systems’ holdings in Hubbell were worth $1,545,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of HUBB. Groupama Asset Managment raised its position in Hubbell by 17.0% in the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 1,010 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of Hubbell in the fourth quarter valued at $30,000. Prospera Private Wealth LLC purchased a new position in shares of Hubbell in the third quarter valued at $33,000. Versant Capital Management Inc increased its position in shares of Hubbell by 64.6% in the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after buying an additional 31 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Hubbell in the third quarter valued at $41,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on HUBB. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Sanford C. Bernstein began coverage on Hubbell in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price target for the company. Morgan Stanley raised their price target on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Barclays raised their price target on Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Finally, Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and dropped their price target for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $471.50.

Hubbell Stock Down 3.3 %

Shares of NYSE:HUBB opened at $376.74 on Monday. The stock’s 50-day moving average price is $420.03 and its two-hundred day moving average price is $424.45. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. Hubbell Incorporated has a 12-month low of $346.13 and a 12-month high of $481.35. The firm has a market cap of $20.22 billion, a price-to-earnings ratio of 26.24, a PEG ratio of 1.34 and a beta of 0.92.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.02 by $0.08. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period last year, the company earned $3.69 EPS. The firm’s quarterly revenue was down .9% on a year-over-year basis. On average, research analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Announces Dividend

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

Hubbell declared that its board has authorized a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the industrial products company to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors 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.