SRN Advisors LLC Sells 395 Shares of Hubbell Incorporated (NYSE:HUBB)

SRN Advisors LLC lessened its holdings in Hubbell Incorporated (NYSE:HUBB) by 9.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,618 shares of the industrial products company’s stock after selling 395 shares during the quarter. Hubbell accounts for approximately 1.3% of SRN Advisors LLC’s investment portfolio, making the stock its 12th biggest holding. SRN Advisors LLC’s holdings in Hubbell were worth $1,516,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Mizuho Securities USA LLC raised its stake in shares of Hubbell by 192,421.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock worth $3,418,233,000 after purchasing an additional 7,975,855 shares in the last quarter. Bank of New York Mellon Corp raised its position in Hubbell by 4.8% during 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 acquiring an additional 129,490 shares in the last quarter. State Street Corp lifted its stake in Hubbell by 1.1% in the third quarter. State Street Corp now owns 2,092,215 shares of the industrial products company’s stock valued at $896,200,000 after acquiring an additional 22,507 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of Hubbell by 6.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,417,476 shares of the industrial products company’s stock valued at $607,176,000 after acquiring an additional 82,258 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of Hubbell by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,254,905 shares of the industrial products company’s stock worth $535,681,000 after purchasing an additional 8,278 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Stock Up 1.5 %

HUBB stock opened at $377.81 on Thursday. The stock has a market capitalization of $20.28 billion, a P/E ratio of 26.31, a price-to-earnings-growth ratio of 1.34 and a beta of 0.92. 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 firm has a 50-day moving average price of $416.93 and a 200-day moving average price of $424.37. Hubbell Incorporated has a 12 month low of $346.13 and a 12 month high of $481.35.

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

Hubbell announced that its Board of Directors has approved a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the industrial products company to buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

Hubbell Dividend Announcement

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

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total value of $452,865.84. Following the completion of the sale, the insider now 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 SEC, which is accessible through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Barclays raised their price objective on Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Morgan Stanley boosted their target price on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Wells Fargo & Company cut their price target on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Finally, Sanford C. Bernstein began coverage on shares of Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $471.50.

Hubbell Company 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.