apricus wealth LLC Trims Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

apricus wealth LLC lowered its position in Hubbell Incorporated (NYSE:HUBB) by 28.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 800 shares of the industrial products company’s stock after selling 325 shares during the quarter. apricus wealth LLC’s holdings in Hubbell were worth $265,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Greenwood Capital Associates LLC lifted its stake in Hubbell by 50.8% in the first quarter. Greenwood Capital Associates LLC now owns 1,693 shares of the industrial products company’s stock valued at $560,000 after buying an additional 570 shares during the last quarter. Fifth Third Bancorp raised its stake in shares of Hubbell by 6.1% during the first quarter. Fifth Third Bancorp now owns 9,223 shares of the industrial products company’s stock worth $3,052,000 after purchasing an additional 531 shares during the last quarter. Simon Quick Advisors LLC raised its stake in shares of Hubbell by 1.0% during the first quarter. Simon Quick Advisors LLC now owns 23,882 shares of the industrial products company’s stock worth $7,903,000 after purchasing an additional 232 shares during the last quarter. CX Institutional purchased a new stake in shares of Hubbell during the first quarter worth approximately $49,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of Hubbell by 1,450.1% during the first quarter. Assenagon Asset Management S.A. now owns 38,581 shares of the industrial products company’s stock worth $12,767,000 after purchasing an additional 36,092 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Trading Up 0.2%

NYSE:HUBB opened at $388.79 on Thursday. The stock has a fifty day moving average price of $366.19 and a two-hundred day moving average price of $390.11. The stock has a market capitalization of $20.75 billion, a price-to-earnings ratio of 27.07, a PEG ratio of 1.34 and a beta of 0.99. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. Hubbell Incorporated has a 1 year low of $299.43 and a 1 year high of $481.35.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Thursday, May 1st. The industrial products company reported $3.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.73 by ($0.23). The business had revenue of $1.37 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The company’s revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.60 EPS. As a group, sell-side analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The company also recently announced 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. This represents a $5.28 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend is Friday, May 30th. Hubbell’s dividend payout ratio (DPR) is 35.72%.

Hubbell announced that its board has approved a share repurchase plan on Wednesday, February 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 2.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have recently commented on HUBB shares. Barclays upped their price target on Hubbell from $400.00 to $414.00 and gave the stock an “equal weight” rating in a research note on Monday. 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, May 16th. Finally, Wall Street Zen cut 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 company’s stock. According to data from MarketBeat.com, Hubbell currently has an average rating of “Hold” and an average target price of $459.25.

Insider Buying and Selling at Hubbell

In other Hubbell news, CEO Gerben Bakker sold 7,723 shares of the company’s stock in a transaction 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 sale, the chief executive officer now owns 82,101 shares of the company’s stock, valued at approximately $31,578,507.63. This represents a 8.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carlos M. Cardoso sold 400 shares of the company’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $386.29, for a total value of $154,516.00. Following the completion of the sale, the director now directly owns 1,727 shares in the company, valued at $667,122.83. This trade represents a 18.81% decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate 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.