TIAA Trust National Association Sells 56 Shares of Hubbell Incorporated (NYSE:HUBB)

TIAA Trust National Association reduced its position in shares of Hubbell Incorporated (NYSE:HUBB) by 1.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,870 shares of the industrial products company’s stock after selling 56 shares during the quarter. TIAA Trust National Association’s holdings in Hubbell were worth $2,040,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Creative Financial Designs Inc. ADV raised its holdings in 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 purchasing an additional 30 shares during the period. Groupama Asset Managment lifted its position in shares of Hubbell by 17.0% during the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock valued at $30,000 after buying an additional 1,010 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in shares of Hubbell during the 4th quarter valued at approximately $30,000. Versant Capital Management Inc increased its holdings in Hubbell by 64.6% in the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 31 shares in the last quarter. Finally, Venturi Wealth Management LLC raised 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 worth $54,000 after acquiring an additional 53 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Stock Down 2.0 %

Shares of HUBB opened at $346.54 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. The stock has a market capitalization of $18.60 billion, a price-to-earnings ratio of 24.13, a price-to-earnings-growth ratio of 1.34 and a beta of 0.94. Hubbell Incorporated has a 1 year low of $330.32 and a 1 year high of $481.35. The business’s 50 day simple moving average is $383.92 and its 200-day simple moving average is $419.27.

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

Hubbell declared that its board has approved a stock repurchase program on Wednesday, February 12th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the industrial products company to repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Hubbell Announces Dividend

The business also recently declared 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 1.52%. Hubbell’s dividend payout ratio is currently 36.77%.

Insiders Place Their Bets

In other news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell 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 transaction, the insider now owns 4,327 shares in the company, valued at approximately $1,683,462.62. The trade was a 21.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on HUBB shares. Barclays dropped their price target on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a research report on Wednesday. StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Wells Fargo & Company decreased 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. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Hubbell has an average rating of “Hold” and an average price target of $462.13.

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.