Fulton Bank N.A. Decreases Holdings in Hubbell Incorporated (NYSE:HUBB)

Fulton Bank N.A. cut its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 20.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,226 shares of the industrial products company’s stock after selling 570 shares during the quarter. Fulton Bank N.A.’s holdings in Hubbell were worth $737,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Creative Financial Designs Inc. ADV grew its position in shares of Hubbell by 85.7% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock worth $27,000 after buying an additional 30 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of Hubbell in the 4th quarter worth about $30,000. Johnson Financial Group Inc. lifted its stake in shares of Hubbell by 166.7% in the fourth quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company’s stock worth $44,000 after buying an additional 65 shares in the last quarter. Venturi Wealth Management LLC boosted its stake in Hubbell by 69.7% during the 4th quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 53 shares during the last quarter. Finally, NBC Securities Inc. purchased a new position in shares of Hubbell during the first quarter valued at approximately $49,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Analyst Upgrades and Downgrades

HUBB has been the topic of several recent research reports. Barclays lowered their price objective on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. JPMorgan Chase & Co. boosted their price target on Hubbell from $352.00 to $417.00 and gave the stock a “neutral” rating in a report on Friday, May 16th. Finally, Wall Street Zen cut Hubbell from a “buy” rating to a “hold” rating in a report on Friday, April 11th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $457.50.

Hubbell Stock Up 0.2%

Shares of NYSE:HUBB opened at $390.98 on Thursday. Hubbell Incorporated has a 1 year low of $299.43 and a 1 year high of $481.35. The firm has a market capitalization of $20.87 billion, a PE ratio of 27.23, a price-to-earnings-growth ratio of 1.34 and a beta of 0.97. The business has a 50 day simple moving average of $359.96 and a two-hundred day simple moving average of $392.24. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $3.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.73 by ($0.23). The firm had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.39 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 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.60 EPS. On average, equities analysts predict that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend is Friday, May 30th. Hubbell’s dividend payout ratio (DPR) is 35.72%.

Hubbell announced that its board has approved a stock repurchase plan 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 repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In other news, Director Carlos M. Cardoso sold 400 shares of the business’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $386.29, for a total transaction of $154,516.00. Following the sale, the director now owns 1,727 shares in the company, valued at approximately $667,122.83. The trade was a 18.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gerben Bakker sold 7,723 shares of the firm’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $384.63, for a total transaction of $2,970,497.49. Following the completion of the transaction, the chief executive officer now directly owns 82,101 shares of the company’s stock, valued at approximately $31,578,507.63. This represents a 8.60% decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

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.