Mercer Global Advisors Inc. ADV Has $2.72 Million Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Mercer Global Advisors Inc. ADV lowered its holdings in Hubbell Incorporated (NYSE:HUBB) by 7.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 6,487 shares of the industrial products company’s stock after selling 512 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Hubbell were worth $2,717,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV lifted its stake 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 valued at $27,000 after buying an additional 30 shares during the period. Stonebridge Financial Group LLC acquired a new position in Hubbell in the 4th quarter valued at approximately $30,000. Versant Capital Management Inc raised its holdings in Hubbell by 64.6% in the 4th 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. Johnson Financial Group Inc. grew its holdings in shares of Hubbell by 166.7% during the 4th quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company’s stock worth $44,000 after purchasing an additional 65 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in shares of Hubbell by 69.7% during the 4th quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 53 shares in the last quarter. 88.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on HUBB. Barclays reduced their target price on Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, April 11th. Wells Fargo & Company dropped their price target on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. decreased their price objective on Hubbell from $430.00 to $352.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Hubbell presently has an average rating of “Hold” and an average target price of $449.38.

Insiders Place Their Bets

In related news, insider Alyssa R. Flynn sold 1,164 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.66% of the company’s stock.

Hubbell Stock Down 1.5 %

Shares of HUBB opened at $348.38 on Wednesday. The company has a market capitalization of $18.70 billion, a P/E ratio of 24.26, a PEG ratio of 1.34 and a beta of 0.97. Hubbell Incorporated has a one year low of $299.43 and a one year high of $481.35. The business’s 50 day simple moving average is $343.39 and its 200-day simple moving average is $400.98. 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 posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $3.50 EPS for the quarter, missing analysts’ consensus estimates of $3.73 by ($0.23). The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.39 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. Hubbell’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.60 EPS. As a group, sell-side analysts predict that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

The business 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. This represents a $5.28 annualized dividend and a yield of 1.52%. The ex-dividend date is Friday, May 30th. Hubbell’s payout ratio is presently 35.72%.

Hubbell declared that its Board of Directors has approved a share buyback plan on Wednesday, February 12th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the industrial products company to purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

About Hubbell

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.