Anchor Capital Advisors LLC Sells 7,323 Shares of Hubbell Incorporated (NYSE:HUBB)

Anchor Capital Advisors LLC cut its position in Hubbell Incorporated (NYSE:HUBB) by 4.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 154,107 shares of the industrial products company’s stock after selling 7,323 shares during the period. Hubbell accounts for about 1.3% of Anchor Capital Advisors LLC’s investment portfolio, making the stock its 27th biggest position. Anchor Capital Advisors LLC owned 0.29% of Hubbell worth $50,690,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lindbrook Capital LLC boosted its position in Hubbell by 127.5% in the fourth quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock valued at $30,000 after buying an additional 51 shares in the last quarter. Baillie Gifford & Co. acquired a new position in shares of Hubbell during the fourth quarter worth approximately $33,000. Sentry Investment Management LLC acquired a new position in shares of Hubbell during the fourth quarter worth approximately $91,000. Grove Bank & Trust lifted its position in shares of Hubbell by 14.3% during the third quarter. Grove Bank & Trust now owns 400 shares of the industrial products company’s stock worth $125,000 after purchasing an additional 50 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Hubbell by 43.2% during the fourth quarter. Blue Trust Inc. now owns 424 shares of the industrial products company’s stock worth $133,000 after purchasing an additional 128 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Trading Down 0.1 %

Hubbell stock traded down $0.34 during trading hours on Monday, hitting $407.19. The stock had a trading volume of 540,622 shares, compared to its average volume of 406,636. The company has a quick ratio of 1.01, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. The stock has a market cap of $21.84 billion, a price-to-earnings ratio of 28.98, a P/E/G ratio of 2.48 and a beta of 0.94. Hubbell Incorporated has a one year low of $248.37 and a one year high of $429.61. The business’s 50 day simple moving average is $395.96 and its 200-day simple moving average is $343.10.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, January 30th. The industrial products company reported $3.69 EPS for the quarter, topping the consensus estimate of $3.58 by $0.11. Hubbell had a return on equity of 30.82% and a net margin of 14.14%. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same quarter last year, the firm posted $2.60 earnings per share. The firm’s revenue was up 10.3% on a year-over-year basis. On average, equities analysts predict that Hubbell Incorporated will post 16.43 EPS for the current fiscal year.

Hubbell Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be issued a $1.22 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.20%. Hubbell’s dividend payout ratio is presently 34.73%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Wells Fargo & Company upped their target price on shares of Hubbell from $351.00 to $360.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft started coverage on shares of Hubbell in a research report on Monday, March 11th. They set a “hold” rating and a $427.00 price objective for the company. Mizuho increased their target price on shares of Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Finally, Barclays increased their target price on shares of Hubbell from $340.00 to $400.00 and gave the stock an “equal weight” rating in a report on Tuesday, April 2nd. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $383.57.

Insider Buying and Selling

In other Hubbell news, CEO Gerben Bakker sold 13,355 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $353.13, for a total value of $4,716,051.15. Following the completion of the sale, the chief executive officer now directly owns 51,783 shares of the company’s stock, valued at $18,286,130.79. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Gerben Bakker sold 13,355 shares of the business’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $353.13, for a total transaction of $4,716,051.15. Following the completion of the transaction, the chief executive officer now directly owns 51,783 shares in the company, valued at $18,286,130.79. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Mark Eugene Mikes sold 397 shares of Hubbell stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $363.45, for a total value of $144,289.65. Following the sale, the insider now directly owns 4,899 shares of the company’s stock, valued at approximately $1,780,541.55. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,125 shares of company stock worth $12,065,100. 0.66% of the stock is owned by company insiders.

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.