Hubbell Incorporated (NYSE:HUBB) Stock Holdings Lessened by Condor Capital Management

Condor Capital Management trimmed its stake in Hubbell Incorporated (NYSE:HUBB) by 2.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,271 shares of the industrial products company’s stock after selling 107 shares during the quarter. Condor Capital Management’s holdings in Hubbell were worth $2,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the stock. Salem Investment Counselors Inc. increased its holdings in Hubbell by 26.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 9,144 shares of the industrial products company’s stock worth $3,830,000 after buying an additional 1,886 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in Hubbell by 122.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 28,723 shares of the industrial products company’s stock worth $12,032,000 after buying an additional 15,806 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Hubbell by 7.1% in the third quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company’s stock worth $98,187,000 after buying an additional 15,215 shares during the last quarter. Nordea Investment Management AB increased its holdings in Hubbell by 29.6% in the fourth quarter. Nordea Investment Management AB now owns 160,630 shares of the industrial products company’s stock worth $67,503,000 after buying an additional 36,643 shares during the last quarter. Finally, SPX Gestao de Recursos Ltda acquired a new position in Hubbell in the third quarter worth approximately $9,985,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Wells Fargo & Company lowered their price target on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and lowered their price target for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Finally, Barclays lowered their price target on Hubbell from $475.00 to $422.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $464.88.

Insider Buying and Selling

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell stock in a transaction 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 of the company’s stock, valued at approximately $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.78% of the stock is owned by company insiders.

Hubbell Stock Up 1.8 %

HUBB opened at $342.52 on Thursday. Hubbell Incorporated has a 1-year low of $330.32 and a 1-year high of $481.35. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $18.38 billion, a price-to-earnings ratio of 23.85, a P/E/G ratio of 1.34 and a beta of 0.95. The business has a 50 day moving average of $391.96 and a 200-day moving average of $420.44.

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

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were given a $1.32 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $5.28 annualized dividend and a yield of 1.54%. Hubbell’s dividend payout ratio (DPR) is currently 36.77%.

Hubbell declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 12th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the industrial products company to repurchase up to 2.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are 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.