Hubbell Incorporated (NYSE:HUBB) Position Decreased by Coastline Trust Co

Coastline Trust Co lowered its stake in Hubbell Incorporated (NYSE:HUBB) by 5.7% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,773 shares of the industrial products company’s stock after selling 107 shares during the period. Coastline Trust Co’s holdings in Hubbell were worth $743,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. M&T Bank Corp raised its holdings in shares of Hubbell by 0.5% during the third quarter. M&T Bank Corp now owns 26,242 shares of the industrial products company’s stock valued at $11,241,000 after acquiring an additional 124 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Hubbell in the third quarter worth $247,000. Tidal Investments LLC grew its holdings in shares of Hubbell by 8.5% during the third quarter. Tidal Investments LLC now owns 2,358 shares of the industrial products company’s stock valued at $1,010,000 after buying an additional 184 shares in the last quarter. Franklin Resources Inc. raised its position in Hubbell by 32.7% during the third quarter. Franklin Resources Inc. now owns 99,405 shares of the industrial products company’s stock valued at $45,776,000 after buying an additional 24,486 shares during the period. Finally, Oddo BHF Asset Management Sas acquired a new stake in Hubbell during the 3rd quarter worth about $413,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Price Performance

Hubbell stock opened at $338.36 on Friday. The business has a 50 day simple moving average of $351.09 and a 200 day simple moving average of $409.07. Hubbell Incorporated has a one year low of $299.43 and a one year high of $481.35. The company has a market capitalization of $18.16 billion, a PE ratio of 23.56, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. 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 announced its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 EPS for the quarter, topping the consensus estimate of $4.02 by $0.08. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the business earned $3.69 EPS. Hubbell’s revenue was down .9% compared to the same quarter last year. On average, sell-side analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a dividend of $1.32 per share. The ex-dividend date was Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.56%. Hubbell’s payout ratio is currently 36.77%.

Hubbell announced that its Board of Directors has approved a stock buyback program on Wednesday, February 12th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the industrial products company to buy up to 2.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several research firms have weighed in on HUBB. Barclays dropped their price objective on shares of 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 shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, April 11th. Wells Fargo & Company cut their price objective on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Hubbell from $430.00 to $352.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $449.38.

Insider Transactions at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 4,327 shares in the company, valued at approximately $1,683,462.62. This represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 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.