Wealth Alliance Sells 76 Shares of Hubbell Incorporated (NYSE:HUBB)

Wealth Alliance reduced its position in Hubbell Incorporated (NYSE:HUBB) by 5.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,346 shares of the industrial products company’s stock after selling 76 shares during the period. Wealth Alliance’s holdings in Hubbell were worth $443,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC grew its holdings in Hubbell by 32,734.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,472,949 shares of the industrial products company’s stock valued at $484,497,000 after buying an additional 1,468,463 shares in the last quarter. Wellington Management Group LLP grew its holdings in Hubbell by 133.8% during the 1st quarter. Wellington Management Group LLP now owns 1,543,481 shares of the industrial products company’s stock valued at $283,646,000 after buying an additional 883,272 shares in the last quarter. Norges Bank purchased a new position in Hubbell during the 4th quarter valued at about $90,375,000. Massachusetts Financial Services Co. MA grew its holdings in Hubbell by 46.4% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,020,067 shares of the industrial products company’s stock valued at $319,699,000 after buying an additional 323,116 shares in the last quarter. Finally, Morgan Stanley grew its holdings in Hubbell by 44.1% during the 4th quarter. Morgan Stanley now owns 597,030 shares of the industrial products company’s stock valued at $140,111,000 after buying an additional 182,790 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on HUBB shares. StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on Hubbell in a report on Monday, March 11th. They set a “hold” rating and a $427.00 price objective for the company. Mizuho boosted their price objective on Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Wells Fargo & Company boosted their price objective on Hubbell from $351.00 to $360.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 31st. Finally, Barclays boosted their price objective on Hubbell from $340.00 to $400.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 2nd. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $383.57.

Insider Activity at Hubbell

In related news, VP Katherine Anne Lane sold 1,468 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $352.51, for a total transaction of $517,484.68. Following the completion of the transaction, the vice president now owns 9,355 shares in the company, valued at $3,297,731.05. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, VP Katherine Anne Lane sold 1,468 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $352.51, for a total value of $517,484.68. Following the sale, the vice president now directly owns 9,355 shares of the company’s stock, valued at $3,297,731.05. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Mark Eugene Mikes sold 1,837 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $358.16, for a total value of $657,939.92. Following the completion of the sale, the insider now directly owns 5,296 shares in the company, valued at $1,896,815.36. The disclosure for this sale can be found here. Insiders sold a total of 34,125 shares of company stock worth $12,065,100 over the last quarter. 0.66% of the stock is owned by corporate insiders.

Hubbell Stock Performance

Shares of HUBB stock opened at $391.03 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.01 and a current ratio of 1.64. Hubbell Incorporated has a fifty-two week low of $229.09 and a fifty-two week high of $429.61. The stock has a 50 day moving average price of $389.91 and a two-hundred day moving average price of $338.09. The company has a market capitalization of $20.97 billion, a P/E ratio of 27.83, a PEG ratio of 2.41 and a beta of 0.94.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share for the quarter, beating the consensus estimate of $3.58 by $0.11. Hubbell had a return on equity of 30.82% and a net margin of 14.14%. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the company posted $2.60 earnings per share. The business’s revenue was up 10.3% on a year-over-year basis. Analysts expect that Hubbell Incorporated will post 16.43 earnings per share for the current year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a dividend of $1.22 per share. The ex-dividend date was Wednesday, February 28th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.25%. Hubbell’s dividend payout ratio is presently 34.73%.

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.