Anchor Capital Advisors LLC Sells 5,535 Shares of Hubbell Incorporated (NYSE:HUBB)

Anchor Capital Advisors LLC cut its holdings in Hubbell Incorporated (NYSE:HUBB) by 4.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 114,282 shares of the industrial products company’s stock after selling 5,535 shares during the quarter. Hubbell makes up approximately 1.4% of Anchor Capital Advisors LLC’s investment portfolio, making the stock its 20th biggest position. Anchor Capital Advisors LLC’s holdings in Hubbell were worth $47,871,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. grew its holdings in Hubbell by 38.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,562 shares of the industrial products company’s stock worth $1,526,000 after purchasing an additional 986 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Hubbell by 7.2% in the 3rd quarter. State of Alaska Department of Revenue now owns 6,236 shares of the industrial products company’s stock worth $2,671,000 after purchasing an additional 420 shares in the last quarter. J.W. Cole Advisors Inc. boosted its position in shares of Hubbell by 9.0% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 1,155 shares of the industrial products company’s stock worth $495,000 after purchasing an additional 95 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Hubbell by 5.1% in the 3rd quarter. Nisa Investment Advisors LLC now owns 5,601 shares of the industrial products company’s stock worth $2,399,000 after buying an additional 270 shares during the last quarter. Finally, Trajan Wealth LLC bought a new position in Hubbell during the 3rd quarter valued at approximately $218,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 4,327 shares in the company, valued at $1,683,462.62. The trade was a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.66% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

HUBB has been the topic of several analyst reports. Wells Fargo & Company dropped their target price on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Barclays upped their price target on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Sanford C. Bernstein initiated coverage on shares of Hubbell in a research note on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price objective for the company. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a “buy” rating to a “hold” rating and cut their price target for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $471.50.

Hubbell Stock Performance

Shares of NYSE HUBB opened at $369.08 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. The firm’s 50-day moving average price is $415.98 and its 200-day moving average price is $424.05. Hubbell Incorporated has a 52-week low of $346.13 and a 52-week high of $481.35. The company has a market cap of $19.81 billion, a PE ratio of 25.70, a PEG ratio of 1.34 and a beta of 0.92.

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

Hubbell announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the industrial products company to purchase up to 2.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date of this dividend is Friday, February 28th. Hubbell’s dividend payout ratio (DPR) is presently 36.77%.

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.