Vinva Investment Management Ltd Sells 1,051 Shares of Hubbell Incorporated (NYSE:HUBB)

Vinva Investment Management Ltd lowered its stake in Hubbell Incorporated (NYSE:HUBB) by 58.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 754 shares of the industrial products company’s stock after selling 1,051 shares during the period. Vinva Investment Management Ltd’s holdings in Hubbell were worth $316,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Creative Financial Designs Inc. ADV increased its position in shares of Hubbell by 85.7% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 30 shares during the period. Stonebridge Financial Group LLC bought a new position in Hubbell in the fourth quarter valued at about $30,000. Prospera Private Wealth LLC bought a new position in Hubbell in the third quarter valued at about $33,000. Versant Capital Management Inc grew its position in Hubbell by 64.6% in the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 31 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its position in Hubbell by 69.7% in the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 53 shares during the last quarter. Institutional investors own 88.16% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Hubbell Price Performance

Hubbell stock opened at $338.08 on Friday. The stock’s 50 day moving average is $388.41 and its 200 day moving average is $419.45. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. The firm has a market cap of $18.14 billion, a P/E ratio of 23.54, a P/E/G ratio of 1.34 and a beta of 0.95. Hubbell Incorporated has a one year low of $330.32 and a one year high of $481.35.

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

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date was Friday, February 28th. Hubbell’s dividend payout ratio is currently 36.77%.

Hubbell announced that its Board of Directors has authorized a share buyback program on Wednesday, February 12th that allows the company to repurchase $500.00 million in 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 usually an indication that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell 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 approximately $1,683,462.62. The trade was a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.78% of the stock is currently owned by corporate insiders.

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.