Ceredex Value Advisors LLC Has $27.88 Million Stake in Hubbell Incorporated (NYSE:HUBB)

Ceredex Value Advisors LLC lowered its stake in Hubbell Incorporated (NYSE:HUBB) by 63.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 66,550 shares of the industrial products company’s stock after selling 116,564 shares during the quarter. Ceredex Value Advisors LLC’s holdings in Hubbell were worth $27,877,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the stock. Creative Financial Designs Inc. ADV lifted its holdings in Hubbell by 85.7% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock valued at $27,000 after buying an additional 30 shares during the period. Stonebridge Financial Group LLC acquired a new position in shares of Hubbell in the 4th quarter valued at $30,000. Versant Capital Management Inc boosted its position in shares of Hubbell by 64.6% in the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 31 shares during the last quarter. Venturi Wealth Management LLC grew its stake in shares of 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 purchasing an additional 53 shares during the period. Finally, Golden State Wealth Management LLC bought a new stake in Hubbell in the fourth quarter valued at about $69,000. Institutional investors own 88.16% of the company’s stock.

Analyst Ratings Changes

HUBB has been the subject of several analyst reports. 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 Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. 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 report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. decreased their price objective on Hubbell from $430.00 to $352.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $449.38.

Hubbell Stock Performance

Shares of Hubbell stock opened at $346.69 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. The firm has a market cap of $18.61 billion, a price-to-earnings ratio of 24.14, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. The stock’s 50-day moving average is $354.74 and its 200-day moving average is $410.80. Hubbell Incorporated has a one year low of $299.43 and a one year high of $481.35.

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

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.52%. The ex-dividend date was Friday, February 28th. Hubbell’s payout ratio is 36.77%.

Hubbell announced that its Board of Directors has initiated a share repurchase program 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 reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Insider Activity at Hubbell

In related 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 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. This represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.66% of the stock is owned by insiders.

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.