Hubbell Incorporated (NYSE:HUBB) Shares Sold by Modera Wealth Management LLC

Modera Wealth Management LLC reduced its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,512 shares of the industrial products company’s stock after selling 106 shares during the period. Modera Wealth Management LLC owned about 0.05% of Hubbell worth $11,524,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Groupama Asset Managment lifted its holdings in Hubbell by 17.0% during the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock worth $30,000 after buying an additional 1,010 shares during the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of Hubbell during the 4th quarter valued at approximately $30,000. Prospera Private Wealth LLC bought a new position in Hubbell during the third quarter worth $33,000. Versant Capital Management Inc boosted its holdings in Hubbell by 64.6% in the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 31 shares during the period. Finally, Ashton Thomas Securities LLC bought a new stake in Hubbell during the third quarter valued at $41,000. Institutional investors own 88.16% of the company’s stock.

Hubbell Price Performance

Shares of HUBB opened at $371.51 on Friday. Hubbell Incorporated has a one year low of $346.13 and a one year high of $481.35. The stock’s fifty day moving average is $413.77 and its 200-day moving average is $423.65. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. The firm has a market capitalization of $19.94 billion, a price-to-earnings ratio of 25.87, a price-to-earnings-growth ratio of 1.34 and a beta of 0.92.

Hubbell (NYSE:HUBB) last released its quarterly 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 company had revenue of $1.33 billion for 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%. Hubbell’s revenue was down .9% on a year-over-year basis. During the same period in the previous year, the firm earned $3.69 EPS. Equities analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell announced that its Board of Directors has initiated a share repurchase program on Wednesday, February 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Friday, February 28th. Hubbell’s dividend payout ratio (DPR) is presently 36.77%.

Insider Transactions at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total value of $452,865.84. Following the transaction, the insider now owns 4,327 shares of the company’s stock, valued at $1,683,462.62. The trade was a 21.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Barclays lifted their price target on shares of Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Wells Fargo & Company lowered their target price on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and dropped their price target for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Finally, Sanford C. Bernstein began coverage on Hubbell in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $471.50.

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.