Nuveen Asset Management LLC Sells 270,481 Shares of Hubbell Incorporated (NYSE:HUBB)

Nuveen Asset Management LLC decreased its position in Hubbell Incorporated (NYSE:HUBB - Free Report) by 27.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 731,758 shares of the industrial products company's stock after selling 270,481 shares during the quarter. Nuveen Asset Management LLC owned 1.36% of Hubbell worth $306,526,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In related news, CEO Gerben Bakker sold 7,723 shares of Hubbell stock in a transaction that occurred on Wednesday, May 14th. The stock was 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 directly owns 82,101 shares of the company's stock, valued at approximately $31,578,507.63. This trade represents a 8.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Alyssa R. Flynn sold 1,164 shares of the business'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 sale, the insider now 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 disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

Hubbell Stock Performance

HUBB stock traded up $0.30 during trading hours on Tuesday, reaching $391.07. The stock had a trading volume of 89,330 shares, compared to its average volume of 529,752. The stock has a 50-day simple moving average of $348.16 and a 200 day simple moving average of $396.56. Hubbell Incorporated has a fifty-two week low of $299.43 and a fifty-two week high of $481.35. The stock has a market capitalization of $20.87 billion, a PE ratio of 27.23, a price-to-earnings-growth 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.

Hubbell (NYSE:HUBB - Get Free Report) last issued 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). Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter last year, the business posted $3.60 earnings per share. The company's revenue for the quarter was down 2.4% on a year-over-year basis. Analysts predict that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell announced that its board has authorized a share buyback program 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 programs are typically a sign that the company's board believes its shares are undervalued.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a dividend of $1.32 per share. The ex-dividend date is Friday, May 30th. This represents a $5.28 annualized dividend and a dividend yield of 1.35%. Hubbell's dividend payout ratio is currently 35.72%.

Analyst Ratings Changes

Several brokerages recently commented on HUBB. Barclays reduced their target price on shares of Hubbell from $422.00 to $400.00 and set an "equal weight" rating for the company in a report on Wednesday, March 26th. JPMorgan Chase & Co. increased their price objective on shares of Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a research note on Friday. Finally, StockNews.com cut Hubbell from a "buy" rating to a "hold" rating in a report on Friday, April 11th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently 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.