Hubbell Incorporated (NYSE:HUBB) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC decreased its stake in Hubbell Incorporated (NYSE:HUBB) by 2.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,440 shares of the industrial products company’s stock after selling 434 shares during the period. Gabelli Funds LLC’s holdings in Hubbell were worth $8,562,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of HUBB. Creative Financial Designs Inc. ADV grew 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 worth $27,000 after purchasing an additional 30 shares during the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of Hubbell in the 4th quarter valued at about $30,000. Versant Capital Management Inc grew its stake in Hubbell by 64.6% during the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after buying an additional 31 shares during the last quarter. Venturi Wealth Management LLC increased its position in Hubbell by 69.7% during the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock worth $54,000 after buying an additional 53 shares during the period. Finally, Golden State Wealth Management LLC purchased a new stake in Hubbell in the fourth quarter valued at approximately $69,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell 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 completion of the transaction, the insider now directly owns 4,327 shares of the company’s stock, valued at approximately $1,683,462.62. The trade was a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.66% of the company’s stock.

Hubbell Price Performance

Shares of HUBB opened at $338.89 on Thursday. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The stock’s 50 day moving average is $353.50 and its two-hundred day moving average is $410.30. Hubbell Incorporated has a twelve month low of $299.43 and a twelve month high of $481.35. The firm has a market capitalization of $18.19 billion, a PE ratio of 23.60, a P/E/G ratio of 1.34 and a beta of 0.95.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $4.02 by $0.08. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.41 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The company’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the business earned $3.69 earnings per share. Research analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current year.

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

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a $1.32 dividend. 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%.

Analyst Upgrades and Downgrades

HUBB has been the topic of a number of recent research reports. Barclays cut their target price on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 26th. JPMorgan Chase & Co. dropped their price objective on shares of Hubbell from $430.00 to $352.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Wells Fargo & Company decreased their target price 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. Finally, StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, April 11th. Six 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.com, Hubbell currently has an average rating of “Hold” and an average price target of $449.38.

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.