New England Capital Financial Advisors LLC Sells 98 Shares of Hubbell Incorporated (NYSE:HUBB)

New England Capital Financial Advisors LLC reduced its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 12.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 674 shares of the industrial products company’s stock after selling 98 shares during the quarter. New England Capital Financial Advisors LLC’s holdings in Hubbell were worth $282,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Creative Planning grew its position in shares of Hubbell by 19.3% during the 3rd quarter. Creative Planning now owns 4,144 shares of the industrial products company’s stock valued at $1,775,000 after acquiring an additional 671 shares during the period. Blue Trust Inc. grew its holdings in Hubbell by 61.9% during the third quarter. Blue Trust Inc. now owns 518 shares of the industrial products company’s stock valued at $222,000 after purchasing an additional 198 shares during the period. Signaturefd LLC grew its holdings in Hubbell by 20.3% during the third quarter. Signaturefd LLC now owns 278 shares of the industrial products company’s stock valued at $119,000 after purchasing an additional 47 shares during the period. Private Advisor Group LLC increased its position in Hubbell by 10.8% in the third quarter. Private Advisor Group LLC now owns 5,196 shares of the industrial products company’s stock worth $2,226,000 after buying an additional 508 shares during the last quarter. Finally, Greenleaf Trust raised its stake in shares of Hubbell by 10.4% in the third quarter. Greenleaf Trust now owns 761 shares of the industrial products company’s stock valued at $326,000 after buying an additional 72 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on HUBB. Sanford C. Bernstein initiated coverage on Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price objective for the company. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a “buy” rating to a “hold” rating and dropped their price target for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Morgan Stanley lifted their price objective on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company dropped their target price on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $471.50.

Hubbell Price Performance

NYSE:HUBB opened at $376.74 on Friday. Hubbell Incorporated has a 52-week low of $346.13 and a 52-week high of $481.35. The stock has a fifty day moving average of $420.03 and a 200 day moving average of $423.99. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. The firm has a market capitalization of $20.22 billion, a price-to-earnings ratio of 26.24, a P/E/G ratio of 1.34 and a beta of 0.92.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.02 by $0.08. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.41 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The company’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the company posted $3.69 EPS. On average, research analysts expect that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be given a $1.32 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $5.28 annualized dividend and a yield of 1.40%. Hubbell’s dividend payout ratio (DPR) is presently 36.77%.

Hubbell announced that its board has authorized a share buyback program on Wednesday, February 12th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the industrial products company to buy up to 2.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.