Citizens Financial Group Inc. RI Sells 514 Shares of Hubbell Incorporated (NYSE:HUBB)

Citizens Financial Group Inc. RI cut its holdings in Hubbell Incorporated (NYSE:HUBB) by 5.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,401 shares of the industrial products company’s stock after selling 514 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Hubbell were worth $3,519,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of HUBB. MassMutual Private Wealth & Trust FSB increased its stake in shares of Hubbell by 12.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company’s stock valued at $96,000 after acquiring an additional 25 shares during the last quarter. JGP Wealth Management LLC increased its stake in Hubbell by 1.2% in the fourth quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company’s stock valued at $884,000 after purchasing an additional 26 shares in the last quarter. Sanctuary Advisors LLC increased its stake in Hubbell by 0.5% in the fourth quarter. Sanctuary Advisors LLC now owns 5,422 shares of the industrial products company’s stock valued at $2,313,000 after purchasing an additional 27 shares in the last quarter. Avestar Capital LLC raised its holdings in Hubbell by 5.1% in the third quarter. Avestar Capital LLC now owns 577 shares of the industrial products company’s stock worth $247,000 after purchasing an additional 28 shares during the period. Finally, BHK Investment Advisors LLC boosted its position in shares of Hubbell by 2.3% during the fourth quarter. BHK Investment Advisors LLC now owns 1,351 shares of the industrial products company’s stock worth $566,000 after purchasing an additional 30 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Insider Transactions at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $389.06, for a total transaction of $452,865.84. Following the sale, the insider now owns 4,327 shares in the company, valued at approximately $1,683,462.62. This represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

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

Hubbell Stock Up 1.0 %

Shares of Hubbell stock opened at $341.00 on Wednesday. The firm has a market cap of $18.30 billion, a PE ratio of 23.75, a P/E/G ratio of 1.34 and a beta of 0.94. The business’s 50 day simple moving average is $402.93 and its 200 day simple moving average is $422.89. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. Hubbell Incorporated has a 52-week low of $332.97 and a 52-week high of $481.35.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data 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 company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The firm’s revenue was down .9% compared to the same quarter last year. During the same period last year, the company earned $3.69 earnings per share. On average, analysts predict that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell declared that its board has authorized a stock buyback program on Wednesday, February 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Hubbell Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $5.28 annualized dividend and a yield of 1.55%. Hubbell’s dividend payout ratio (DPR) is presently 36.77%.

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.