Chevy Chase Trust Holdings LLC Trims Stock Position in Hubbell Incorporated (NYSE:HUBB)

Chevy Chase Trust Holdings LLC cut its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 1.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 36,614 shares of the industrial products company’s stock after selling 618 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.07% of Hubbell worth $15,337,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HUBB. Groupama Asset Managment raised its stake in Hubbell by 17.0% during the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 1,010 shares during the last quarter. Stonebridge Financial Group LLC acquired a new position in Hubbell during the 4th quarter worth approximately $30,000. Prospera Private Wealth LLC acquired a new position in Hubbell during the 3rd quarter worth approximately $33,000. Versant Capital Management Inc increased its position in Hubbell by 64.6% during the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 31 shares during the period. Finally, Ashton Thomas Securities LLC acquired a new position in Hubbell during the 3rd quarter worth approximately $41,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on HUBB shares. Sanford C. Bernstein started coverage on Hubbell in a research report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 target price on the stock. Barclays boosted their target price on Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and lowered their price target for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. Finally, Morgan Stanley upped their price target on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $471.50.

Hubbell Price Performance

HUBB stock opened at $389.93 on Friday. Hubbell Incorporated has a 1 year low of $346.13 and a 1 year high of $481.35. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.64. The stock’s 50 day moving average price is $426.51 and its 200 day moving average price is $423.46. The firm has a market cap of $20.93 billion, a P/E ratio of 27.15, a PEG ratio of 1.36 and a beta of 0.92.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the prior year, the company earned $3.69 EPS. Hubbell’s revenue was down .9% on a year-over-year basis. On average, sell-side analysts expect that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

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

Hubbell Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend is Friday, February 28th. Hubbell’s payout ratio is currently 36.77%.

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.