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

Vinva Investment Management Ltd decreased its position in shares of Hubbell Incorporated (NYSE:HUBB) by 58.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 754 shares of the industrial products company’s stock after selling 1,051 shares during the quarter. Vinva Investment Management Ltd’s holdings in Hubbell were worth $316,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Creative Financial Designs Inc. ADV increased its holdings in shares of Hubbell by 85.7% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 30 shares in the last quarter. Groupama Asset Managment increased its holdings in shares of Hubbell by 17.0% during the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 1,010 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of Hubbell during the fourth quarter valued at approximately $30,000. Prospera Private Wealth LLC bought a new stake in shares of Hubbell during the third quarter valued at approximately $33,000. Finally, Versant Capital Management Inc increased its holdings in shares of Hubbell by 64.6% during 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 in the last quarter. Institutional investors own 88.16% of the company’s stock.

Analyst Upgrades and Downgrades

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

Hubbell Stock Down 0.3 %

HUBB stock opened at $338.08 on Friday. The stock’s fifty day simple moving average is $388.41 and its two-hundred day simple moving average is $419.45. 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 Incorporated has a 1-year low of $330.32 and a 1-year high of $481.35. The stock 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 (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share 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 analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the firm earned $3.69 earnings per share. The business’s revenue was down .9% on a year-over-year basis. Analysts expect that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a dividend of $1.32 per share. 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 1.56%. Hubbell’s dividend payout ratio is presently 36.77%.

Hubbell announced that its Board of Directors has initiated a share repurchase 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 buy up to 2.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Insider Activity

In other news, insider Alyssa R. Flynn sold 1,164 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total transaction of $452,865.84. Following the transaction, the insider now owns 4,327 shares of the company’s stock, valued at $1,683,462.62. This represents a 21.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.78% of the company’s stock.

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.