Corient Private Wealth LLC Sells 399 Shares of Hubbell Incorporated (NYSE:HUBB)

Corient Private Wealth LLC reduced its stake in Hubbell Incorporated (NYSE:HUBB) by 3.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 11,808 shares of the industrial products company’s stock after selling 399 shares during the period. Corient Private Wealth LLC’s holdings in Hubbell were worth $4,946,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of HUBB. Zurcher Kantonalbank Zurich Cantonalbank raised its stake 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 worth $99,005,000 after buying an additional 168,380 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Hubbell in the fourth quarter worth about $63,647,000. Bank of New York Mellon Corp grew its holdings in Hubbell by 4.8% in the fourth quarter. Bank of New York Mellon Corp now owns 2,826,327 shares of the industrial products company’s stock worth $1,183,920,000 after purchasing an additional 129,490 shares during the period. Proficio Capital Partners LLC purchased a new stake in Hubbell in the fourth quarter worth about $40,533,000. Finally, Massachusetts Financial Services Co. MA grew its holdings in Hubbell by 6.2% in the third 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 during the period. 88.16% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HUBB has been the topic of a number of recent research reports. Barclays cut their price objective on shares of Hubbell from $475.00 to $422.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. Wells Fargo & Company cut their price objective on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a “buy” rating to a “hold” rating and cut their price target for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $464.88.

Insider Activity at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the 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 directly owns 4,327 shares in the company, valued at approximately $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.78% of the stock is owned by insiders.

Hubbell Stock Down 0.3 %

Shares of Hubbell stock opened at $338.08 on Friday. The company has a market cap of $18.14 billion, a price-to-earnings ratio of 23.54, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. The company’s 50 day moving average is $388.41 and its 200 day moving average is $419.45. Hubbell Incorporated has a twelve month low of $330.32 and a twelve month high of $481.35. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, beating 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%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.69 earnings per share. Research analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were given a dividend of $1.32 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a yield of 1.56%. Hubbell’s dividend payout ratio (DPR) is 36.77%.

Hubbell declared that its board has authorized a stock buyback program on Wednesday, February 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the industrial products company to purchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management 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.