Portland Global Advisors LLC Sells 1,036 Shares of Hubbell Incorporated (NYSE:HUBB)

Portland Global Advisors LLC trimmed its position in shares of Hubbell Incorporated (NYSE:HUBB) by 3.7% in the fourth quarter, Holdings Channel reports. The fund owned 26,796 shares of the industrial products company’s stock after selling 1,036 shares during the quarter. Hubbell comprises approximately 1.4% of Portland Global Advisors LLC’s investment portfolio, making the stock its 22nd biggest holding. Portland Global Advisors LLC’s holdings in Hubbell were worth $11,225,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Hubbell by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 6,634,705 shares of the industrial products company’s stock valued at $2,779,212,000 after purchasing an additional 65,033 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Hubbell by 4.8% during the fourth quarter. Bank of New York Mellon Corp now owns 2,826,327 shares of the industrial products company’s stock valued at $1,183,920,000 after buying an additional 129,490 shares during the last quarter. State Street Corp lifted its stake in shares of Hubbell by 1.1% in the third quarter. State Street Corp now owns 2,092,215 shares of the industrial products company’s stock valued at $896,200,000 after buying an additional 22,507 shares during the period. Geode Capital Management LLC grew its position in 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 buying an additional 8,278 shares in the last quarter. Finally, Norges Bank bought a new position in Hubbell during the fourth quarter valued at about $195,218,000. 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 firm’s stock in a transaction dated 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 in the company, valued at approximately $1,683,462.62. This trade represents a 21.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.66% of the stock is currently owned by company insiders.

Hubbell Trading Down 3.0 %

Shares of Hubbell stock opened at $331.68 on Friday. Hubbell Incorporated has a 12-month low of $330.32 and a 12-month high of $481.35. The stock has a market capitalization of $17.80 billion, a P/E ratio of 23.10, a price-to-earnings-growth ratio of 1.34 and a beta of 0.94. The company has a 50-day simple moving average of $379.97 and a 200 day simple moving average of $418.68. The company has a quick ratio of 0.98, a current ratio of 1.64 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 EPS for the quarter, topping 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 business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the business earned $3.69 EPS. Hubbell’s revenue was down .9% compared to the same quarter last year. Research analysts expect that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the industrial products company to buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a $1.32 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.59%. Hubbell’s dividend payout ratio (DPR) is presently 36.77%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on HUBB shares. StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a report on Wednesday. Wells Fargo & Company decreased their price target on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Finally, Barclays dropped their price objective on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Hubbell presently has a consensus rating of “Hold” and an average target price of $462.13.

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.