Hubbell Incorporated (NYSE:HUBB) Stock Holdings Reduced by Laird Norton Wetherby Wealth Management LLC

Laird Norton Wetherby Wealth Management LLC lessened its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 5.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 658 shares of the industrial products company’s stock after selling 37 shares during the quarter. Laird Norton Wetherby Wealth Management LLC’s holdings in Hubbell were worth $276,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in HUBB. Creative Financial Designs Inc. ADV boosted its stake in shares of Hubbell by 85.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 30 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of Hubbell during the 4th quarter worth about $30,000. Johnson Financial Group Inc. boosted its stake 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 acquiring an additional 65 shares in the last quarter. Venturi Wealth Management LLC boosted its stake 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 acquiring an additional 53 shares in the last quarter. Finally, Golden State Wealth Management LLC bought a new stake in shares of Hubbell during the 4th quarter worth about $69,000. Institutional investors own 88.16% of the company’s stock.

Insider Buying and Selling at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was 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 directly owns 4,327 shares of the company’s stock, valued at approximately $1,683,462.62. This represents a 21.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Gerben Bakker sold 7,723 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $384.63, for a total value of $2,970,497.49. Following the completion of the transaction, the chief executive officer now directly owns 82,101 shares of the company’s stock, valued at approximately $31,578,507.63. The trade was a 8.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Hubbell Price Performance

NYSE HUBB opened at $392.16 on Friday. Hubbell Incorporated has a twelve month low of $299.43 and a twelve month high of $481.35. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. The stock has a market capitalization of $20.93 billion, a PE ratio of 27.31, a P/E/G ratio of 1.34 and a beta of 0.97. The stock has a 50-day simple moving average of $347.05 and a 200 day simple moving average of $397.25.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $3.50 EPS for the quarter, missing the consensus estimate of $3.73 by ($0.23). The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.39 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The company’s revenue was down 2.4% on a year-over-year basis. During the same period last year, the company earned $3.60 EPS. Research analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell declared that its Board of Directors has initiated a share buyback program on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the industrial products company to purchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a $1.32 dividend. The ex-dividend date is Friday, May 30th. This represents a $5.28 annualized dividend and a yield of 1.35%. Hubbell’s dividend payout ratio (DPR) is 35.72%.

Analyst Ratings Changes

HUBB has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price target on Hubbell from $352.00 to $417.00 and gave the stock a “neutral” rating in a research note on Friday. StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, April 11th. Finally, Barclays cut their price objective 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. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $457.50.

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.