Voya Investment Management LLC Cuts Stake in Hubbell Incorporated (NYSE:HUBB)

Voya Investment Management LLC lowered its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,551 shares of the industrial products company’s stock after selling 1,104 shares during the period. Voya Investment Management LLC’s holdings in Hubbell were worth $11,960,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Creative Financial Designs Inc. ADV increased its stake in shares of Hubbell by 85.7% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 30 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in Hubbell during the 4th quarter valued at about $30,000. Versant Capital Management Inc grew its stake in Hubbell by 64.6% during 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. Venturi Wealth Management LLC grew its stake in Hubbell by 69.7% during the 4th quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 53 shares in the last quarter. Finally, Golden State Wealth Management LLC purchased a new stake in Hubbell during the 4th quarter valued at about $69,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. StockNews.com cut shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, April 11th. Wells Fargo & Company decreased their target price 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. JPMorgan Chase & Co. decreased their target price on shares of Hubbell from $430.00 to $352.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Finally, Barclays decreased their price target on Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $449.38.

Hubbell Trading Down 0.5 %

HUBB opened at $358.08 on Tuesday. Hubbell Incorporated has a 12 month low of $299.43 and a 12 month high of $481.35. The stock has a market capitalization of $19.22 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 1.34 and a beta of 0.95. 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 business has a fifty day moving average price of $345.98 and a 200 day moving average price of $404.88.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 EPS for the quarter, topping 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 analysts’ expectations of $1.41 billion. During the same period in the previous year, the firm posted $3.69 EPS. Hubbell’s revenue for the quarter was down .9% on a year-over-year basis. Sell-side analysts expect that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be paid a dividend of $1.32 per share. The ex-dividend date is Friday, May 30th. This represents a $5.28 annualized dividend and a yield of 1.47%. Hubbell’s payout ratio is 36.77%.

Hubbell announced that its Board of Directors has initiated a share buyback program 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 shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $389.06, for a total transaction of $452,865.84. Following the completion of the sale, the insider now directly owns 4,327 shares of the company’s stock, valued at $1,683,462.62. The trade was a 21.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.66% of the stock is owned by company insiders.

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.