Westwood Holdings Group Inc. cut its holdings in Hubbell Incorporated (NYSE:HUBB - Free Report) by 3.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 262,471 shares of the industrial products company's stock after selling 10,690 shares during the period. Hubbell makes up approximately 0.8% of Westwood Holdings Group Inc.'s investment portfolio, making the stock its 21st largest position. Westwood Holdings Group Inc. owned about 0.49% of Hubbell worth $109,946,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Janney Montgomery Scott LLC grew its stake in shares of 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 grew its stake in shares of Hubbell by 1.6% in the fourth quarter. Smith Group Asset Management LLC now owns 67,042 shares of the industrial products company's stock valued at $28,083,000 after acquiring an additional 1,049 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Hubbell by 25.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 190 shares of the industrial products company's stock valued at $80,000 after acquiring an additional 38 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Hubbell by 28.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 8,848 shares of the industrial products company's stock valued at $3,706,000 after acquiring an additional 1,957 shares in the last quarter. Finally, Portfolio Design Labs LLC bought a new stake in Hubbell during the fourth quarter worth about $306,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
HUBB has been the subject of several recent analyst reports. Wall Street Zen cut shares of Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. Barclays cut their price objective 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. Finally, JPMorgan Chase & Co. upped their price objective on shares of Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Hubbell currently has an average rating of "Hold" and an average price target of $457.50.
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Hubbell Price Performance
Shares of HUBB stock traded up $1.91 on Friday, reaching $391.30. The company had a trading volume of 737,739 shares, compared to its average volume of 537,110. The stock has a market capitalization of $20.89 billion, a PE ratio of 27.25, a price-to-earnings-growth ratio of 1.34 and a beta of 0.97. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. Hubbell Incorporated has a one year low of $299.43 and a one year high of $481.35. The business's 50-day moving average is $352.15 and its 200 day moving average is $395.83.
Hubbell (NYSE:HUBB - Get Free Report) last posted its earnings results on Thursday, May 1st. The industrial products company reported $3.50 EPS for the quarter, missing analysts' consensus estimates 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%. The firm's revenue was down 2.4% compared to the same quarter last year. During the same period last year, the company posted $3.60 EPS. Equities research analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.
Hubbell Dividend Announcement
The firm also recently disclosed 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. The ex-dividend date is Friday, May 30th. This represents a $5.28 dividend on an annualized basis and a yield of 1.35%. Hubbell's dividend payout ratio (DPR) is presently 35.72%.
Hubbell announced that its board has authorized a share repurchase plan on Wednesday, February 12th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the industrial products company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board believes its stock is undervalued.
Insider Activity at Hubbell
In related news, CEO Gerben Bakker sold 7,723 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $384.63, for a total value of $2,970,497.49. Following the completion of the transaction, the chief executive officer now owns 82,101 shares in the company, valued at $31,578,507.63. This trade represents a 8.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carlos M. Cardoso sold 400 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $386.29, for a total transaction of $154,516.00. Following the completion of the transaction, the director now owns 1,727 shares of the company's stock, valued at approximately $667,122.83. This trade represents a 18.81% decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.
About Hubbell
(
Free Report)
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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