Catalyst Financial Partners LLC Sells 63 Shares of Hubbell Incorporated (NYSE:HUBB)

Catalyst Financial Partners LLC cut its stake in Hubbell Incorporated (NYSE:HUBB) by 9.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 638 shares of the industrial products company’s stock after selling 63 shares during the quarter. Catalyst Financial Partners LLC’s holdings in Hubbell were worth $267,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in HUBB. Janney Montgomery Scott LLC increased its stake in shares of Hubbell by 122.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 28,723 shares of the industrial products company’s stock worth $12,032,000 after acquiring an additional 15,806 shares in the last quarter. Salem Investment Counselors Inc. increased its stake in shares of Hubbell by 26.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 9,144 shares of the industrial products company’s stock worth $3,830,000 after acquiring an additional 1,886 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Hubbell by 7.1% in the 3rd quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company’s stock worth $98,187,000 after acquiring an additional 15,215 shares in the last quarter. LGT Capital Partners LTD. bought a new position in shares of Hubbell in the 3rd quarter worth about $39,687,000. Finally, Impax Asset Management Group plc increased its stake in shares of Hubbell by 30.3% in the 3rd quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock worth $514,377,000 after acquiring an additional 279,654 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors.

Hubbell Stock Performance

Shares of HUBB stock opened at $389.93 on Friday. The company has a 50 day moving average price of $427.95 and a 200-day moving average price of $423.00. Hubbell Incorporated has a 52 week low of $346.13 and a 52 week high of $481.35. The firm has a market capitalization of $20.93 billion, a PE ratio of 27.15, a P/E/G ratio of 1.36 and a beta of 0.92. The company has a quick ratio of 1.05, a current ratio of 1.64 and a debt-to-equity ratio of 0.44.

Hubbell (NYSE:HUBB) last announced its quarterly 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. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period in the previous year, the business posted $3.69 earnings per share. The business’s revenue for the quarter was down .9% on a year-over-year basis. As a group, equities research analysts expect 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 given a dividend of $1.32 per share. The ex-dividend date is Friday, February 28th. This represents a $5.28 annualized dividend and a yield of 1.35%. Hubbell’s dividend payout ratio (DPR) is 36.77%.

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.

Wall Street Analysts Forecast Growth

HUBB has been the topic of several recent analyst reports. 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 research report on Tuesday, January 7th. Barclays increased their price objective on shares of Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a “buy” rating to a “hold” rating and cut their price objective for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. Finally, Sanford C. Bernstein initiated coverage on shares of Hubbell in a research report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Hubbell currently has an average rating of “Hold” and a consensus price target of $471.50.

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.