By otakuyassine3@gmail.com 
SVB Wealth LLC bought a new stake in Hubbell Incorporated (NYSE:HUBB – Free Report) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 493 shares of the industrial products company’s stock, valued at approximately $207,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB grew its position in shares of Hubbell by 12.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company’s stock worth $96,000 after purchasing an additional 25 shares in the last quarter. JGP Wealth Management LLC grew its position in shares of Hubbell by 1.2% during the fourth quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company’s stock worth $884,000 after purchasing an additional 26 shares in the last quarter. Sanctuary Advisors LLC grew its position in shares of Hubbell by 0.5% during the fourth quarter. Sanctuary Advisors LLC now owns 5,422 shares of the industrial products company’s stock worth $2,313,000 after purchasing an additional 27 shares in the last quarter. Avestar Capital LLC grew its position in shares of Hubbell by 5.1% during the third quarter. Avestar Capital LLC now owns 577 shares of the industrial products company’s stock worth $247,000 after purchasing an additional 28 shares in the last quarter. Finally, BHK Investment Advisors LLC grew its holdings in Hubbell by 2.3% during the 4th quarter. BHK Investment Advisors LLC now owns 1,351 shares of the industrial products company’s stock valued at $566,000 after buying an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.
Insider Buying and Selling
In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total transaction of $452,865.84. Following the transaction, the insider now directly owns 4,327 shares in the company, valued at $1,683,462.62. This trade represents a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.66% of the stock is owned by corporate insiders.
Hubbell Price Performance
NYSE:HUBB opened at $345.92 on Friday. The firm has a market capitalization of $18.57 billion, a price-to-earnings ratio of 24.09, a PEG ratio of 1.34 and a beta of 0.95. Hubbell Incorporated has a 1 year low of $337.97 and a 1 year high of $481.35. The business has a 50 day simple moving average of $407.47 and a 200-day simple moving average of $422.93. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98.
Hubbell (NYSE:HUBB – Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.41 billion. During the same period last year, the company earned $3.69 EPS. Hubbell’s quarterly revenue was down .9% compared to the same quarter last year. Equities analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current year.
Hubbell declared that its Board of Directors has authorized a stock buyback 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 purchase up to 2.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
Hubbell Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date is Friday, February 28th. Hubbell’s dividend payout ratio is currently 36.77%.
Wall Street Analysts Forecast Growth
Several research firms have weighed in on HUBB. Wells Fargo & Company cut their price target on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Barclays cut their price target on Hubbell from $475.00 to $422.00 and set an “equal weight” rating for the company in a report on Monday. Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and cut their price target for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Finally, StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Hubbell currently has an average rating of “Hold” and a consensus target price of $464.88.
View Our Latest Stock Report on HUBB
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.
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