Deutsche Bank AG Trims Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Deutsche Bank AG lowered its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 6.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 817,038 shares of the industrial products company’s stock after selling 56,235 shares during the period. Deutsche Bank AG owned 1.52% of Hubbell worth $342,249,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HUBB. Vanguard Group Inc. boosted its holdings in shares of Hubbell by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 6,634,705 shares of the industrial products company’s stock worth $2,779,212,000 after purchasing an additional 65,033 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Hubbell by 4.8% in the 4th quarter. Bank of New York Mellon Corp now owns 2,826,327 shares of the industrial products company’s stock worth $1,183,920,000 after buying an additional 129,490 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Hubbell by 6.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,510,430 shares of the industrial products company’s stock valued at $632,704,000 after buying an additional 92,954 shares during the period. Invesco Ltd. increased its stake in shares of Hubbell by 1.9% during the 4th quarter. Invesco Ltd. now owns 1,490,479 shares of the industrial products company’s stock valued at $624,347,000 after acquiring an additional 27,914 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Hubbell by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 1,284,506 shares of the industrial products company’s stock worth $536,641,000 after acquiring an additional 29,601 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Price Performance

HUBB stock opened at $354.23 on Friday. The firm has a market cap of $19.01 billion, a P/E ratio of 24.67, a price-to-earnings-growth ratio of 1.34 and a beta of 0.97. 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 1 year low of $299.43 and a 1 year high of $481.35. The stock has a 50-day simple moving average of $343.01 and a 200-day simple moving average of $399.94.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Thursday, May 1st. The industrial products company reported $3.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.73 by ($0.23). Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period last year, the business earned $3.60 EPS. The firm’s revenue was down 2.4% compared to the same quarter last year. On average, equities analysts predict that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell announced that its Board of Directors has initiated a share 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 reacquire up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a $1.32 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $5.28 dividend on an annualized basis and a yield of 1.49%. Hubbell’s payout ratio is currently 35.72%.

Insider Transactions at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were 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 of the company’s stock, valued at $1,683,462.62. This represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HUBB. StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, April 11th. Barclays cut their target price on Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. lowered their price target on Hubbell from $430.00 to $352.00 and set a “neutral” rating for the company in a research 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. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $449.38.

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.