Westwood Holdings Group Inc. Sells 10,690 Shares of Hubbell Incorporated (NYSE:HUBB)

Westwood Holdings Group Inc. lowered its holdings in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 3.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 262,471 shares of the industrial products company's stock after selling 10,690 shares during the quarter. Hubbell accounts for about 0.8% of Westwood Holdings Group Inc.'s portfolio, making the stock its 21st largest position. Westwood Holdings Group Inc. owned about 0.49% of Hubbell worth $109,946,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Janney Montgomery Scott LLC increased its stake in Hubbell by 122.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 28,723 shares of the industrial products company's stock worth $12,032,000 after buying an additional 15,806 shares during the period. Smith Group Asset Management LLC increased its position in Hubbell by 1.6% during the 4th quarter. Smith Group Asset Management LLC now owns 67,042 shares of the industrial products company's stock valued at $28,083,000 after purchasing an additional 1,049 shares during the period. Smartleaf Asset Management LLC increased its position in Hubbell by 25.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 190 shares of the industrial products company's stock valued at $80,000 after purchasing an additional 38 shares during the period. Exchange Traded Concepts LLC increased its position in Hubbell by 28.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 8,848 shares of the industrial products company's stock valued at $3,706,000 after purchasing an additional 1,957 shares during the period. Finally, Portfolio Design Labs LLC bought a new stake in shares of Hubbell in the 4th quarter valued at about $306,000. Institutional investors own 88.16% of the company's stock.

Hubbell Stock Performance

Shares of NYSE HUBB opened at $392.16 on Monday. 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 12 month low of $299.43 and a 12 month high of $481.35. The company has a 50 day simple moving average of $347.05 and a two-hundred day simple moving average of $396.80. The stock has a market cap of $20.93 billion, a price-to-earnings ratio of 27.31, a PEG ratio of 1.34 and a beta of 0.97.

Hubbell (NYSE:HUBB - Get Free Report) last posted its earnings results on Thursday, May 1st. The industrial products company reported $3.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.73 by ($0.23). The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.39 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The business's revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.60 earnings per share. As a group, analysts predict that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Friday, May 30th. Hubbell's payout ratio is presently 35.72%.

Hubbell announced that its board has initiated a share buyback program on Wednesday, February 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the industrial products company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. StockNews.com cut shares of Hubbell from a "buy" rating to a "hold" rating in a research note on Friday, April 11th. JPMorgan Chase & Co. lifted their target price on shares of Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a research note on Friday. Finally, Barclays lowered their target price on shares of Hubbell from $422.00 to $400.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 26th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Hubbell currently has a consensus rating of "Hold" and an average target price of $457.50.

Insider Buying and Selling

In other news, CEO Gerben Bakker sold 7,723 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $384.63, for a total transaction of $2,970,497.49. Following the completion of the sale, the chief executive officer now owns 82,101 shares of the company's stock, valued at $31,578,507.63. This represents a 8.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alyssa R. Flynn sold 1,164 shares of the company's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total transaction of $452,865.84. Following the sale, the insider now directly owns 4,327 shares of the company's stock, valued at $1,683,462.62. The trade was a 21.20% decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

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.

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