Integrated Wealth Concepts LLC Sells 968 Shares of Hubbell Incorporated (NYSE:HUBB)

Integrated Wealth Concepts LLC lessened its stake in Hubbell Incorporated (NYSE:HUBB - Free Report) by 30.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,207 shares of the industrial products company's stock after selling 968 shares during the quarter. Integrated Wealth Concepts LLC's holdings in Hubbell were worth $924,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in HUBB. MassMutual Private Wealth & Trust FSB raised its position in Hubbell by 12.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company's stock worth $96,000 after acquiring an additional 25 shares in the last quarter. JGP Wealth Management LLC grew its stake in shares of Hubbell by 1.2% in the 4th quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company's stock worth $884,000 after purchasing an additional 26 shares during the last quarter. Huntington National Bank raised its holdings in shares of Hubbell by 3.0% in the 4th quarter. Huntington National Bank now owns 886 shares of the industrial products company's stock worth $371,000 after purchasing an additional 26 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in Hubbell by 0.5% during the fourth quarter. Sanctuary Advisors LLC now owns 5,422 shares of the industrial products company's stock valued at $2,313,000 after purchasing an additional 27 shares during the last quarter. Finally, Mindset Wealth Management LLC boosted its holdings in Hubbell by 1.7% during the fourth quarter. Mindset Wealth Management LLC now owns 1,655 shares of the industrial products company's stock worth $693,000 after buying an additional 27 shares in the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction 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 transaction, the insider now owns 4,327 shares in the company, valued at $1,683,462.62. This represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.66% of the company's stock.

Hubbell Stock Up 3.7 %

Hubbell stock traded up $12.56 during trading hours on Friday, hitting $355.68. The company had a trading volume of 1,047,052 shares, compared to its average volume of 520,959. Hubbell Incorporated has a fifty-two week low of $299.43 and a fifty-two week high of $481.35. 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 firm has a market capitalization of $19.09 billion, a P/E ratio of 24.77, a price-to-earnings-growth ratio of 1.34 and a beta of 0.97. The firm's fifty day moving average is $344.27 and its 200-day moving average is $402.45.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly 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 analyst estimates of $1.39 billion. During the same period last year, the company posted $3.60 earnings per share. The company's revenue was down 2.4% compared to the same quarter last year. On average, research analysts forecast that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell declared that its board has approved a stock buyback program on Wednesday, February 12th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the industrial products company to repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be paid a $1.32 dividend. The ex-dividend date is Friday, May 30th. This represents a $5.28 annualized dividend and a dividend yield of 1.48%. Hubbell's payout ratio is 35.72%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. StockNews.com lowered Hubbell from a "buy" rating to a "hold" rating in a research note on Friday, April 11th. Barclays cut their price objective on Hubbell from $422.00 to $400.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 26th. JPMorgan Chase & Co. decreased their target price on shares of Hubbell from $430.00 to $352.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Finally, Wells Fargo & Company reduced their price target on shares of Hubbell from $455.00 to $450.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 7th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Hubbell presently has a consensus rating of "Hold" and a consensus target price of $449.38.

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.