Logan Capital Management Inc. Has $13.74 Million Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Logan Capital Management Inc. decreased its holdings in Hubbell Incorporated (NYSE:HUBB - Free Report) by 7.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,802 shares of the industrial products company's stock after selling 2,701 shares during the quarter. Logan Capital Management Inc. owned approximately 0.06% of Hubbell worth $13,741,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB boosted its stake in Hubbell by 12.3% during the fourth 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 in the last quarter. JGP Wealth Management LLC lifted its holdings in Hubbell by 1.2% in the 4th quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company's stock valued at $884,000 after acquiring an additional 26 shares during the last quarter. Huntington National Bank lifted its holdings in Hubbell by 3.0% in the 4th quarter. Huntington National Bank now owns 886 shares of the industrial products company's stock valued at $371,000 after acquiring an additional 26 shares during the last quarter. Sanctuary Advisors LLC boosted its position 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 valued at $2,313,000 after purchasing an additional 27 shares in the last quarter. Finally, Mindset Wealth Management LLC grew its stake in shares of 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. Hedge funds and other institutional investors own 88.16% of the company's stock.

Insider Buying and Selling

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total value of $452,865.84. Following 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 position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.66% of the company's stock.

Analyst Ratings Changes

Several analysts recently commented on the stock. Barclays cut 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. StockNews.com downgraded Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. Finally, JPMorgan Chase & Co. decreased their target price on Hubbell from $430.00 to $352.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $449.38.

Hubbell Stock Up 0.2%

HUBB stock traded up $0.96 during trading hours on Thursday, hitting $386.64. The company's stock had a trading volume of 821,301 shares, compared to its average volume of 530,407. The company has a market capitalization of $20.64 billion, a PE ratio of 26.92, a price-to-earnings-growth ratio of 1.34 and a beta of 0.97. The stock has a 50 day moving average price of $346.02 and a two-hundred day moving average price of $397.58. 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 12 month low of $299.43 and a 12 month high of $481.35.

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 for the quarter, missing the consensus estimate of $3.73 by ($0.23). The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.39 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. Hubbell's quarterly revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the business earned $3.60 earnings per share. On average, equities research analysts expect that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell declared that its Board of Directors has approved a share buyback plan on Wednesday, February 12th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the industrial products company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its shares are undervalued.

Hubbell Announces Dividend

The company 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 dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Friday, May 30th. Hubbell's dividend payout ratio is currently 35.72%.

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.