Tradition Wealth Management LLC Has $240,000 Holdings in Hubbell Incorporated (NYSE:HUBB)

Tradition Wealth Management LLC trimmed its holdings in Hubbell Incorporated (NYSE:HUBB) by 13.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 572 shares of the industrial products company’s stock after selling 86 shares during the period. Tradition Wealth Management LLC’s holdings in Hubbell were worth $240,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In other news, insider Alyssa R. Flynn sold 1,164 shares of the company’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 transaction of $452,865.84. Following the completion of the sale, the insider now 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 legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.66% of the company’s stock.

Hubbell Stock Down 2.9 %

Hubbell stock opened at $329.12 on Tuesday. Hubbell Incorporated has a fifty-two week low of $299.43 and a fifty-two week high of $481.35. The firm has a market capitalization of $17.66 billion, a PE ratio of 22.92, a P/E/G ratio of 1.34 and a beta of 0.95. The company’s 50-day moving average is $349.85 and its 200-day moving average is $408.12. 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 issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, beating the consensus estimate of $4.02 by $0.08. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the prior year, the firm earned $3.69 earnings per share. The company’s revenue was down .9% on a year-over-year basis. Sell-side analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given 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 1.60%. Hubbell’s payout ratio is presently 36.77%.

Hubbell declared that its board has initiated a stock repurchase 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 buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership 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.