Pictet Asset Management Holding SA Trims Holdings in Hubbell Incorporated (NYSE:HUBB)

Pictet Asset Management Holding SA reduced its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 6.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,458 shares of the industrial products company’s stock after selling 1,588 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Hubbell were worth $10,245,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in HUBB. MassMutual Private Wealth & Trust FSB boosted its position in Hubbell by 12.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company’s stock valued at $96,000 after buying an additional 25 shares during the period. JGP Wealth Management LLC grew its stake in Hubbell by 1.2% in the fourth quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company’s stock worth $884,000 after purchasing an additional 26 shares in the last quarter. Sanctuary Advisors LLC increased its holdings in Hubbell by 0.5% during the 4th quarter. Sanctuary Advisors LLC now owns 5,422 shares of the industrial products company’s stock worth $2,313,000 after purchasing an additional 27 shares during the period. Mindset Wealth Management LLC raised its position in Hubbell by 1.7% during the 4th quarter. Mindset Wealth Management LLC now owns 1,655 shares of the industrial products company’s stock valued at $693,000 after purchasing an additional 27 shares in the last quarter. Finally, BHK Investment Advisors LLC lifted its holdings in shares of Hubbell by 2.3% in the 4th quarter. BHK Investment Advisors LLC now owns 1,351 shares of the industrial products company’s stock worth $566,000 after buying an additional 30 shares during the period. 88.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on HUBB. Barclays decreased their price objective on Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Wells Fargo & Company cut their price objective on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Hubbell currently has an average rating of “Hold” and an average target price of $462.13.

Hubbell Price Performance

Shares of HUBB opened at $341.89 on Thursday. The company has a 50 day moving average of $373.18 and a two-hundred day moving average of $417.35. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. Hubbell Incorporated has a twelve month low of $316.34 and a twelve month high of $481.35. The company has a market cap of $18.35 billion, a price-to-earnings ratio of 23.81, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data 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. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the prior year, the business posted $3.69 EPS. The business’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, analysts predict that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a dividend of $1.32 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $5.28 annualized dividend and a dividend yield of 1.54%. Hubbell’s dividend payout ratio (DPR) is currently 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 purchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other Hubbell 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 transaction, 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 position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.66% of the company’s stock.

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.