Citizens Financial Group Inc. RI Has $3.52 Million Position in Hubbell Incorporated (NYSE:HUBB)

Citizens Financial Group Inc. RI lessened its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 5.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 8,401 shares of the industrial products company’s stock after selling 514 shares during the period. Citizens Financial Group Inc. RI’s holdings in Hubbell were worth $3,519,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. increased its holdings in shares of Hubbell by 31.1% during the 4th quarter. Daiwa Securities Group Inc. now owns 42,770 shares of the industrial products company’s stock worth $17,916,000 after purchasing an additional 10,135 shares during the period. Simplicity Wealth LLC increased its stake in Hubbell by 14.3% during the fourth quarter. Simplicity Wealth LLC now owns 4,398 shares of the industrial products company’s stock valued at $1,842,000 after acquiring an additional 550 shares during the period. LGT Capital Partners LTD. raised its holdings in Hubbell by 0.9% in the 4th quarter. LGT Capital Partners LTD. now owns 93,470 shares of the industrial products company’s stock valued at $39,154,000 after acquiring an additional 820 shares in the last quarter. Amundi lifted its position in shares of Hubbell by 4.2% in the 4th quarter. Amundi now owns 253,323 shares of the industrial products company’s stock worth $108,766,000 after acquiring an additional 10,316 shares during the period. Finally, Rialto Wealth Management LLC acquired a new stake in shares of Hubbell during the 4th quarter worth approximately $96,000. Institutional investors own 88.16% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on HUBB shares. Deutsche Bank Aktiengesellschaft lowered Hubbell from a “buy” rating to a “hold” rating and cut their target price for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Wells Fargo & Company dropped their price objective on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Barclays decreased their target price on shares of Hubbell from $475.00 to $422.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. Finally, StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $464.88.

Insider Activity at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were 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 owns 4,327 shares of the company’s stock, valued at $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.66% of the stock is currently owned by company insiders.

Hubbell Trading Up 1.0 %

Shares of Hubbell stock opened at $341.00 on Wednesday. The stock has a market capitalization of $18.30 billion, a P/E ratio of 23.75, a price-to-earnings-growth ratio of 1.34 and a beta of 0.94. Hubbell Incorporated has a 12-month low of $332.97 and a 12-month high of $481.35. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. The company has a 50-day simple moving average of $402.93 and a 200 day simple moving average of $422.89.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 EPS for the quarter, topping the consensus estimate of $4.02 by $0.08. The business had revenue of $1.33 billion for 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%. Hubbell’s revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the business earned $3.69 EPS. Research analysts expect that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid 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 dividend yield of 1.55%. Hubbell’s dividend payout ratio (DPR) is presently 36.77%.

Hubbell announced that its board has approved a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the industrial products company to purchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

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.