Banco Bilbao Vizcaya Argentaria S.A. Has $1.28 Million Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Banco Bilbao Vizcaya Argentaria S.A. reduced its stake in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 18.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,051 shares of the industrial products company's stock after selling 709 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Hubbell were worth $1,280,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Hood River Capital Management LLC acquired a new position in shares of Hubbell in the 4th quarter worth approximately $8,320,000. Engine NO. 1 LLC increased its stake in Hubbell by 27.0% in the 4th quarter. Engine NO. 1 LLC now owns 19,763 shares of the industrial products company's stock worth $8,279,000 after purchasing an additional 4,200 shares in the last quarter. MGO One Seven LLC raised its holdings in Hubbell by 57.0% during the 4th quarter. MGO One Seven LLC now owns 1,242 shares of the industrial products company's stock worth $520,000 after buying an additional 451 shares during the period. Pinebridge Investments L.P. acquired a new stake in Hubbell during the 4th quarter worth about $2,905,000. Finally, Dark Forest Capital Management LP lifted its stake in Hubbell by 60.3% during the fourth quarter. Dark Forest Capital Management LP now owns 2,506 shares of the industrial products company's stock valued at $1,050,000 after buying an additional 943 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company's stock.

Insider Transactions at Hubbell

In related 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 transaction, the insider now directly owns 4,327 shares of the company's stock, valued at $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.66% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on HUBB shares. Barclays cut their price target on shares of Hubbell from $422.00 to $400.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 26th. StockNews.com cut Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. JPMorgan Chase & Co. lowered their price target on Hubbell from $430.00 to $352.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Finally, Wells Fargo & Company reduced their price objective on Hubbell from $455.00 to $450.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 7th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Hubbell currently has a consensus rating of "Hold" and an average price target of $449.38.

Hubbell Stock Down 5.6 %

Shares of HUBB traded down $20.21 during midday trading on Thursday, reaching $342.97. 1,468,574 shares of the stock were exchanged, compared to its average volume of 520,553. 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 company has a market cap of $18.41 billion, a price-to-earnings ratio of 23.88, a P/E/G ratio of 1.34 and a beta of 0.95. Hubbell Incorporated has a 12-month low of $299.43 and a 12-month high of $481.35. The firm has a 50 day simple moving average of $345.11 and a 200-day simple moving average of $404.28.

Hubbell (NYSE:HUBB - Get Free Report) last announced 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 $3.77 by ($0.27). The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.39 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The firm's revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.60 EPS. Research analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell announced that its board has authorized a share repurchase plan on Wednesday, February 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to purchase up to 2.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its shares are undervalued.

Hubbell Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a dividend of $1.32 per share. The ex-dividend date is Friday, May 30th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.54%. Hubbell's dividend payout ratio (DPR) is presently 36.77%.

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.