Cetera Investment Advisers Has $3.63 Million Position in Hubbell Incorporated (NYSE:HUBB)

Cetera Investment Advisers grew its holdings in Hubbell Incorporated (NYSE:HUBB - Free Report) by 23.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,658 shares of the industrial products company's stock after acquiring an additional 1,635 shares during the period. Cetera Investment Advisers' holdings in Hubbell were worth $3,627,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Janney Montgomery Scott LLC boosted its stake in Hubbell by 122.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 28,723 shares of the industrial products company's stock valued at $12,032,000 after acquiring an additional 15,806 shares in the last quarter. Smith Group Asset Management LLC raised its holdings in Hubbell by 1.6% during the fourth quarter. Smith Group Asset Management LLC now owns 67,042 shares of the industrial products company's stock worth $28,083,000 after purchasing an additional 1,049 shares in the last quarter. First Pacific Financial grew its position in Hubbell by 11,180.0% during the fourth quarter. First Pacific Financial now owns 1,692 shares of the industrial products company's stock worth $709,000 after buying an additional 1,677 shares during the period. Smartleaf Asset Management LLC grew its position in Hubbell by 25.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 190 shares of the industrial products company's stock worth $80,000 after buying an additional 38 shares during the period. Finally, Exchange Traded Concepts LLC grew its position in Hubbell by 28.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 8,848 shares of the industrial products company's stock worth $3,706,000 after buying an additional 1,957 shares during the period. Institutional investors and hedge funds own 88.16% of the company's stock.

Analyst Ratings Changes

Several research firms have recently commented on HUBB. JPMorgan Chase & Co. increased their price target on shares of Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Barclays lowered their price target on shares of Hubbell from $422.00 to $400.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 26th. Finally, StockNews.com lowered shares of Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Hubbell has an average rating of "Hold" and an average target price of $457.50.

Insider Activity

In other Hubbell news, CEO Gerben Bakker sold 7,723 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $384.63, for a total value of $2,970,497.49. Following the completion of the sale, the chief executive officer now directly owns 82,101 shares in the company, valued at $31,578,507.63. This represents a 8.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Alyssa R. Flynn sold 1,164 shares of the company's stock in a transaction on Thursday, February 20th. The shares were 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 in the company, valued at $1,683,462.62. This represents a 21.20% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.66% of the company's stock.

Hubbell Stock Down 0.4%

Hubbell stock traded down $1.72 during midday trading on Wednesday, hitting $387.36. 51,380 shares of the stock were exchanged, compared to its average volume of 530,006. Hubbell Incorporated has a 1 year low of $299.43 and a 1 year high of $481.35. The firm has a market cap of $20.67 billion, a P/E ratio of 26.99, a P/E/G ratio of 1.34 and a beta of 0.97. 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 company has a 50 day moving average price of $349.32 and a two-hundred day moving average price of $396.51.

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 for the quarter, missing the consensus estimate of $3.73 by ($0.23). The company had revenue of $1.37 billion during 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%. Hubbell's revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the previous year, the firm posted $3.60 EPS. On average, sell-side analysts predict that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

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 $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.36%. The ex-dividend date is Friday, May 30th. Hubbell's dividend payout ratio (DPR) is presently 35.72%.

Hubbell announced that its Board of Directors has initiated a share buyback program on Wednesday, February 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the industrial products company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its stock is 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.