Maryland State Retirement & Pension System Sells 200 Shares of Hubbell Incorporated (NYSE:HUBB)

Maryland State Retirement & Pension System trimmed its stake in Hubbell Incorporated (NYSE:HUBB) by 6.5% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,859 shares of the industrial products company’s stock after selling 200 shares during the period. Maryland State Retirement & Pension System’s holdings in Hubbell were worth $1,198,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in HUBB. Creative Financial Designs Inc. ADV increased its position in Hubbell by 85.7% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock worth $27,000 after buying an additional 30 shares during the period. Groupama Asset Managment increased its position in Hubbell by 17.0% in the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock worth $30,000 after buying an additional 1,010 shares during the period. Stonebridge Financial Group LLC bought a new position in Hubbell in the 4th quarter worth approximately $30,000. Prospera Private Wealth LLC bought a new position in Hubbell in the 3rd quarter worth approximately $33,000. Finally, Versant Capital Management Inc increased its position in 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 buying an additional 31 shares during the period. 88.16% of the stock is owned by institutional investors.

Hubbell Price Performance

Shares of HUBB stock opened at $338.08 on Friday. The stock’s fifty day simple moving average is $388.41 and its 200 day simple moving average is $419.73. 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 $18.14 billion, a price-to-earnings ratio of 23.54, a P/E/G ratio of 1.34 and a beta of 0.95. Hubbell Incorporated has a one year low of $330.32 and a one year high of $481.35.

Hubbell (NYSE:HUBB) last announced its quarterly 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 business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.41 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. Hubbell’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.69 EPS. On average, analysts expect that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Friday, February 28th. Hubbell’s dividend payout ratio is 36.77%.

Hubbell declared that its board has approved a share repurchase program on Wednesday, February 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Barclays dropped their price target on Hubbell from $475.00 to $422.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and lowered their price objective for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. Wells Fargo & Company lowered their price objective on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Finally, StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $464.88.

Insider Activity at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the business’s stock in a transaction 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 transaction, the insider now owns 4,327 shares of the company’s stock, valued at approximately $1,683,462.62. The trade was a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.78% 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.