Hubbell Incorporated (NYSE:HUBB) Holdings Trimmed by AQR Capital Management LLC

AQR Capital Management LLC reduced its position in Hubbell Incorporated (NYSE:HUBB - Free Report) by 19.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,385 shares of the industrial products company's stock after selling 4,528 shares during the period. AQR Capital Management LLC's holdings in Hubbell were worth $7,701,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB increased its stake in shares of Hubbell by 12.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company's stock worth $96,000 after acquiring an additional 25 shares during the last quarter. JGP Wealth Management LLC boosted its stake in Hubbell by 1.2% in the 4th quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company's stock valued at $884,000 after purchasing an additional 26 shares during the period. Huntington National Bank grew its position in shares of Hubbell by 3.0% during the 4th quarter. Huntington National Bank now owns 886 shares of the industrial products company's stock worth $371,000 after buying an additional 26 shares during the period. Sanctuary Advisors LLC raised its holdings in shares of Hubbell by 0.5% during the fourth quarter. Sanctuary Advisors LLC now owns 5,422 shares of the industrial products company's stock valued at $2,313,000 after purchasing an additional 27 shares during the period. Finally, Mindset Wealth Management LLC lifted its position in shares of Hubbell by 1.7% during the fourth quarter. Mindset Wealth Management LLC now owns 1,655 shares of the industrial products company's stock worth $693,000 after acquiring an additional 27 shares in the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HUBB has been the subject of several analyst reports. StockNews.com lowered Hubbell from a "buy" rating to a "hold" rating in a research note on Friday, April 11th. JPMorgan Chase & Co. cut their target price on shares of Hubbell from $430.00 to $352.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Finally, Barclays lowered 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, March 26th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $449.38.

Insider Transactions at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the firm'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 sale, the insider now owns 4,327 shares of the company's stock, valued at $1,683,462.62. This trade represents a 21.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.66% of the company's stock.

Hubbell Price Performance

HUBB stock traded up $18.58 on Monday, hitting $375.30. 126,608 shares of the company's stock traded hands, compared to its average volume of 522,338. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. Hubbell Incorporated has a 1-year low of $299.43 and a 1-year high of $481.35. The stock has a fifty day moving average of $343.12 and a 200-day moving average of $398.64. The stock has a market cap of $20.14 billion, a price-to-earnings ratio of 26.12, a P/E/G ratio of 1.34 and a beta of 0.97.

Hubbell (NYSE:HUBB - Get Free Report) last released its 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). Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter last year, the company posted $3.60 EPS. Hubbell's revenue for the quarter was down 2.4% on a year-over-year basis. On average, analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Friday, May 30th. Hubbell's dividend payout ratio is 35.72%.

Hubbell announced that its board has approved a share repurchase plan on Wednesday, February 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the industrial products company to buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.

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.