Hubbell Incorporated (NYSE:HUBB) Shares Sold by Keybank National Association OH

Keybank National Association OH lessened its stake in Hubbell Incorporated (NYSE:HUBB) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,363 shares of the industrial products company’s stock after selling 386 shares during the period. Keybank National Association OH’s holdings in Hubbell were worth $7,692,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Mizuho Securities USA LLC grew its position in shares of Hubbell by 192,421.1% in the 3rd quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock worth $3,418,233,000 after acquiring an additional 7,975,855 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Hubbell by 4.8% in the fourth quarter. Bank of New York Mellon Corp now owns 2,826,327 shares of the industrial products company’s stock worth $1,183,920,000 after purchasing an additional 129,490 shares during the period. State Street Corp boosted its holdings in Hubbell by 1.1% in the third quarter. State Street Corp now owns 2,092,215 shares of the industrial products company’s stock worth $896,200,000 after purchasing an additional 22,507 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Hubbell by 6.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,417,476 shares of the industrial products company’s stock valued at $607,176,000 after purchasing an additional 82,258 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Hubbell by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,254,905 shares of the industrial products company’s stock worth $535,681,000 after purchasing an additional 8,278 shares during the period. 88.16% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the company’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 completion of the sale, the insider now directly owns 4,327 shares in the company, valued at $1,683,462.62. This represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.66% of the stock is currently owned by insiders.

Hubbell Stock Performance

HUBB opened at $354.38 on Thursday. Hubbell Incorporated has a twelve month low of $340.38 and a twelve month high of $481.35. The stock has a market cap of $19.02 billion, a PE ratio of 24.68, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. The business’s 50 day moving average is $409.16 and its 200-day moving average is $423.47. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44.

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

Hubbell announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the industrial products company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Hubbell Dividend Announcement

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 dividend on an annualized basis and a yield of 1.49%. Hubbell’s dividend payout ratio is presently 36.77%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on HUBB shares. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and decreased their price target for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Barclays dropped their price target on Hubbell from $475.00 to $422.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, Wells Fargo & Company reduced their price objective on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Hubbell presently has an average rating of “Hold” and a consensus price target of $464.88.

Hubbell Company 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.