Schonfeld Strategic Advisors LLC Sells 42,364 Shares of Hubbell Incorporated (NYSE:HUBB)

Schonfeld Strategic Advisors LLC reduced its stake in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 98.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 623 shares of the industrial products company's stock after selling 42,364 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Hubbell were worth $261,000 as of its most recent SEC filing.

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

Hubbell Price Performance

Shares of NYSE:HUBB traded up $5.52 during midday trading on Friday, reaching $392.16. 659,423 shares of the company's stock were exchanged, compared to its average volume of 531,690. Hubbell Incorporated has a 12 month low of $299.43 and a 12 month high of $481.35. The firm has a market capitalization of $20.93 billion, a PE ratio of 27.31, a price-to-earnings-growth ratio of 1.34 and a beta of 0.97. The company's 50 day simple moving average is $347.05 and its two-hundred day simple moving average is $396.80. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64.

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 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 company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the prior year, the firm posted $3.60 earnings per share. The company's revenue was down 2.4% on a year-over-year basis. Equities research analysts expect that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell announced that its Board of Directors has approved a share buyback program on Wednesday, February 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the industrial products company to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's leadership believes its stock is 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 given a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Friday, May 30th. Hubbell's dividend payout ratio is 35.72%.

Insider Activity at Hubbell

In other Hubbell news, CEO Gerben Bakker sold 7,723 shares of Hubbell 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 transaction, the chief executive officer now owns 82,101 shares of the company's stock, valued at approximately $31,578,507.63. The trade was a 8.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Alyssa R. Flynn sold 1,164 shares of Hubbell stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total transaction of $452,865.84. Following the completion of the transaction, the insider now directly owns 4,327 shares in the company, valued at approximately $1,683,462.62. The trade was a 21.20% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company's stock.

Wall Street Analyst Weigh In

HUBB has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a report on Friday. StockNews.com downgraded shares of Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. Finally, Barclays dropped 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 note on Wednesday, March 26th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Hubbell presently has a consensus rating of "Hold" and a consensus price target of $457.50.

Hubbell 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.