M&T Bank Corp Sells 81 Shares of Hubbell Incorporated (NYSE:HUBB)

M&T Bank Corp lowered its stake in Hubbell Incorporated (NYSE:HUBB) by 0.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,161 shares of the industrial products company’s stock after selling 81 shares during the quarter. M&T Bank Corp’s holdings in Hubbell were worth $10,959,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in HUBB. Groupama Asset Managment increased its holdings in shares of Hubbell by 17.0% in the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 1,010 shares during the period. Stonebridge Financial Group LLC purchased a new position in Hubbell during the fourth quarter worth about $30,000. Prospera Private Wealth LLC bought a new position in Hubbell in the 3rd quarter worth about $33,000. Versant Capital Management Inc raised its holdings 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 valued at $33,000 after acquiring an additional 31 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Hubbell in the 3rd quarter valued at about $41,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Stock Performance

NYSE:HUBB opened at $345.92 on Friday. 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 fifty-two week low of $337.97 and a fifty-two week high of $481.35. The firm has a market cap of $18.57 billion, a PE ratio of 24.09, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. The business has a 50 day moving average price of $407.47 and a 200-day moving average price of $422.93.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results 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 business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the prior year, the company posted $3.69 EPS. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. Equities research analysts predict 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 will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid a $1.32 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $5.28 annualized dividend and a dividend yield of 1.53%. Hubbell’s payout ratio is presently 36.77%.

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

Analysts Set New Price Targets

Several research firms recently weighed in on HUBB. Wells Fargo & Company decreased their price objective on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and cut their target price for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Finally, Barclays reduced their price objective on Hubbell from $475.00 to $422.00 and set an “equal weight” rating on the stock in a research report on Monday. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $464.88.

Insider Activity at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total value of $452,865.84. Following the sale, the insider now directly owns 4,327 shares in the company, valued at approximately $1,683,462.62. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is owned by company 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.