Janney Montgomery Scott LLC Lowers Stock Position in Hubbell Incorporated (NYSE:HUBB)

Janney Montgomery Scott LLC trimmed its holdings in Hubbell Incorporated (NYSE:HUBB) by 10.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,222 shares of the industrial products company’s stock after selling 1,464 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Hubbell were worth $4,021,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Lindbrook Capital LLC boosted its holdings in Hubbell by 127.5% in the 4th quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 51 shares in the last quarter. Baillie Gifford & Co. purchased a new stake in Hubbell during the fourth quarter worth approximately $33,000. Principal Securities Inc. acquired a new stake in shares of Hubbell in the fourth quarter worth $40,000. Sentry Investment Management LLC purchased a new position in shares of Hubbell in the 4th quarter valued at $91,000. Finally, Blue Trust Inc. increased its holdings in Hubbell by 43.2% in the 4th quarter. Blue Trust Inc. now owns 424 shares of the industrial products company’s stock valued at $133,000 after purchasing an additional 128 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Stock Performance

Shares of HUBB opened at $401.00 on Thursday. Hubbell Incorporated has a 52-week low of $248.37 and a 52-week high of $429.61. The firm has a market capitalization of $21.53 billion, a PE ratio of 29.90, a P/E/G ratio of 1.54 and a beta of 0.96. The firm has a 50-day moving average price of $401.78 and a 200 day moving average price of $355.97. The company has a quick ratio of 1.03, a current ratio of 1.66 and a debt-to-equity ratio of 0.64.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.54 by $0.06. Hubbell had a net margin of 13.23% and a return on equity of 29.55%. The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same period last year, the firm posted $3.61 earnings per share. The business’s revenue was up 8.8% on a year-over-year basis. On average, sell-side analysts anticipate that Hubbell Incorporated will post 16.33 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be paid a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Friday, May 31st. Hubbell’s dividend payout ratio is presently 36.39%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on HUBB shares. StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Barclays reduced their target price on Hubbell from $400.00 to $384.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Hubbell in a research report on Monday, March 11th. They issued a “hold” rating and a $427.00 price target on the stock. Wells Fargo & Company cut their price target on Hubbell from $435.00 to $397.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 1st. Finally, Mizuho lifted their price objective on shares of Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Hubbell currently has a consensus rating of “Moderate Buy” and a consensus price target of $386.57.

Insider Activity

In other Hubbell news, Director Neal J. Keating purchased 500 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were purchased at an average cost of $378.77 per share, for a total transaction of $189,385.00. Following the completion of the transaction, the director now owns 8,571 shares in the company, valued at $3,246,437.67. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Alyssa R. Flynn sold 1,106 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $406.79, for a total transaction of $449,909.74. Following the completion of the sale, the insider now directly owns 4,234 shares of the company’s stock, valued at approximately $1,722,348.86. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Neal J. Keating bought 500 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were bought at an average cost of $378.77 per share, for a total transaction of $189,385.00. Following the completion of the transaction, the director now directly owns 8,571 shares of the company’s stock, valued at $3,246,437.67. The disclosure for this purchase can be found here. Insiders sold a total of 3,055 shares of company stock worth $1,232,139 over the last 90 days. 0.78% of the stock is currently 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.