Hubbell Incorporated (NYSE:HUBB) Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC trimmed its position in Hubbell Incorporated (NYSE:HUBB) by 3.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,551 shares of the industrial products company’s stock after selling 1,104 shares during the period. Voya Investment Management LLC owned approximately 0.05% of Hubbell worth $11,960,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB boosted its stake in Hubbell by 12.3% in the fourth 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 in the last quarter. JGP Wealth Management LLC boosted 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 acquiring an additional 26 shares in the last quarter. Huntington National Bank boosted its stake in Hubbell by 3.0% in the fourth quarter. Huntington National Bank now owns 886 shares of the industrial products company’s stock valued at $371,000 after acquiring an additional 26 shares in the last quarter. Sanctuary Advisors LLC lifted its stake in shares of Hubbell by 0.5% during the fourth quarter. Sanctuary Advisors LLC now owns 5,422 shares of the industrial products company’s stock worth $2,313,000 after buying an additional 27 shares during the period. Finally, Mindset Wealth Management LLC lifted its stake in shares of Hubbell by 1.7% during the fourth quarter. Mindset Wealth Management LLC now owns 1,655 shares of the industrial products company’s stock worth $693,000 after buying an additional 27 shares during the period. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on HUBB shares. Wells Fargo & Company lowered 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. JPMorgan Chase & Co. lowered their price objective on shares of Hubbell from $430.00 to $352.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Barclays lowered 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, March 26th. Finally, StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $449.38.

Hubbell Trading Down 0.5 %

NYSE HUBB opened at $358.08 on Tuesday. The company has a fifty day moving average of $345.98 and a 200 day moving average of $404.88. The company has a market capitalization of $19.22 billion, a PE ratio of 24.94, a P/E/G ratio of 1.34 and a beta of 0.95. Hubbell Incorporated has a 1 year low of $299.43 and a 1 year high of $481.35. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $4.02 by $0.08. The business had revenue of $1.33 billion during 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 company’s revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.69 earnings per share. Research analysts forecast that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a $1.32 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.47%. Hubbell’s dividend payout ratio (DPR) is currently 36.77%.

Hubbell announced that its board has approved a share repurchase program on Wednesday, February 12th that authorizes the company to buyback $500.00 million in 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 usually a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the company’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 transaction, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.66% of the company’s stock.

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.