Gulf International Bank UK Ltd Cuts Stake in Hubbell Incorporated (NYSE:HUBB)

Gulf International Bank UK Ltd lowered its stake in Hubbell Incorporated (NYSE:HUBB) by 0.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,193 shares of the industrial products company’s stock after selling 39 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Hubbell were worth $1,756,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Groupama Asset Managment raised its holdings in shares of Hubbell by 17.0% during the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 1,010 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in shares of Hubbell during the fourth quarter valued at approximately $30,000. Prospera Private Wealth LLC bought a new position in shares of Hubbell during the third quarter valued at approximately $33,000. Versant Capital Management Inc raised its holdings in shares of Hubbell by 64.6% during the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 31 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new position in Hubbell in the third quarter worth $41,000. Institutional investors own 88.16% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on HUBB shares. Barclays increased their price objective on Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and cut their target price for the stock from $493.00 to $473.00 in a research note on Tuesday, November 26th. Wells Fargo & Company dropped their target price on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Finally, Sanford C. Bernstein began coverage on Hubbell in a research note 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 given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $471.50.

Hubbell Trading Up 0.6 %

Shares of NYSE HUBB opened at $371.51 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. The business has a fifty day simple moving average of $413.77 and a two-hundred day simple moving average of $423.65. The firm has a market cap of $19.94 billion, a PE ratio of 25.87, a price-to-earnings-growth ratio of 1.34 and a beta of 0.92. Hubbell Incorporated has a twelve month low of $346.13 and a twelve month high of $481.35.

Hubbell (NYSE:HUBB) last issued its earnings results 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 business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.41 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. Hubbell’s revenue was down .9% on a year-over-year basis. During the same period in the previous year, the company posted $3.69 EPS. Analysts expect that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date is Friday, February 28th. Hubbell’s dividend payout ratio (DPR) is presently 36.77%.

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

Insider Transactions at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the business’s stock in a transaction 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 directly owns 4,327 shares of the company’s stock, valued at approximately $1,683,462.62. The trade was a 21.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.66% of the company’s stock.

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.