Anchor Capital Advisors LLC Reduces Stock Position in Hubbell Incorporated (NYSE:HUBB)

Anchor Capital Advisors LLC decreased its holdings in Hubbell Incorporated (NYSE:HUBB - Free Report) by 4.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 154,107 shares of the industrial products company's stock after selling 7,323 shares during the period. Hubbell accounts for approximately 1.3% of Anchor Capital Advisors LLC's holdings, making the stock its 27th biggest holding. Anchor Capital Advisors LLC owned 0.29% of Hubbell worth $50,690,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HUBB. Chevy Chase Trust Holdings LLC increased its position in Hubbell by 265.7% during the fourth quarter. Chevy Chase Trust Holdings LLC now owns 41,234 shares of the industrial products company's stock valued at $13,563,000 after acquiring an additional 29,959 shares during the last quarter. Nordea Investment Management AB lifted its position in shares of Hubbell by 119.0% during the fourth quarter. Nordea Investment Management AB now owns 153,810 shares of the industrial products company's stock valued at $50,388,000 after buying an additional 83,581 shares during the last quarter. PFG Advisors purchased a new stake in Hubbell during the fourth quarter valued at approximately $1,108,000. Raymond James Financial Services Advisors Inc. boosted its position in shares of Hubbell by 117.4% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 20,456 shares of the industrial products company's stock worth $6,729,000 after purchasing an additional 11,046 shares in the last quarter. Finally, Financiere des Professionnels Fonds d investissement inc. increased its position in Hubbell by 23.9% during the 4th quarter. Financiere des Professionnels Fonds d investissement inc. now owns 17,096 shares of the industrial products company's stock valued at $5,623,000 after buying an additional 3,293 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company's stock.

Hubbell Trading Down 0.1 %

Shares of Hubbell stock traded down $0.38 during mid-day trading on Monday, hitting $407.15. The stock had a trading volume of 540,747 shares, compared to its average volume of 406,637. The firm has a market cap of $21.83 billion, a P/E ratio of 28.98, a price-to-earnings-growth ratio of 2.48 and a beta of 0.94. The company has a quick ratio of 1.01, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. The firm has a 50-day moving average of $396.93 and a two-hundred day moving average of $343.79. Hubbell Incorporated has a 12-month low of $248.37 and a 12-month high of $429.61.

Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share for the quarter, topping analysts' consensus estimates of $3.58 by $0.11. Hubbell had a return on equity of 30.82% and a net margin of 14.14%. The business had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.32 billion. During the same period in the prior year, the business posted $2.60 EPS. The company's revenue was up 10.3% compared to the same quarter last year. Sell-side analysts forecast that Hubbell Incorporated will post 16.43 earnings per share for the current year.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be paid a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.20%. The ex-dividend date is Friday, May 31st. Hubbell's payout ratio is 34.73%.

Insider Activity at Hubbell

In related news, VP Katherine Anne Lane sold 1,468 shares of the company's stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $352.51, for a total transaction of $517,484.68. Following the sale, the vice president now directly owns 9,355 shares of the company's stock, valued at approximately $3,297,731.05. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, VP Katherine Anne Lane sold 1,468 shares of the firm's stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $352.51, for a total value of $517,484.68. Following the sale, the vice president now owns 9,355 shares of the company's stock, valued at $3,297,731.05. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Mark Eugene Mikes sold 397 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $363.45, for a total transaction of $144,289.65. Following the completion of the sale, the insider now directly owns 4,899 shares in the company, valued at $1,780,541.55. The disclosure for this sale can be found here. Insiders sold 34,125 shares of company stock worth $12,065,100 in the last three months. 0.66% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on HUBB. Wells Fargo & Company boosted their price target on Hubbell from $351.00 to $360.00 and gave the stock an "equal weight" rating in a research note on Wednesday, January 31st. Barclays raised their price target on shares of Hubbell from $340.00 to $400.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 2nd. StockNews.com lowered shares of Hubbell from a "buy" rating to a "hold" rating in a report on Friday, February 2nd. Deutsche Bank Aktiengesellschaft began coverage on Hubbell in a research note on Monday, March 11th. They issued a "hold" rating and a $427.00 target price for the company. Finally, Mizuho boosted their price target on Hubbell from $370.00 to $450.00 and gave the company a "buy" rating in a research note on Wednesday, March 20th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $383.57.

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.