Quaero Capital S.A. Buys 223 Shares of Hubbell Incorporated (NYSE:HUBB)

Quaero Capital S.A. boosted its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 4.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,371 shares of the industrial products company’s stock after purchasing an additional 223 shares during the quarter. Hubbell makes up approximately 2.9% of Quaero Capital S.A.’s holdings, making the stock its 7th largest position. Quaero Capital S.A.’s holdings in Hubbell were worth $2,250,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in HUBB. Creative Planning grew its position in shares of Hubbell by 19.3% during the third quarter. Creative Planning now owns 4,144 shares of the industrial products company’s stock worth $1,775,000 after acquiring an additional 671 shares during the last quarter. Swedbank AB raised its holdings in shares of Hubbell by 5.1% during the third quarter. Swedbank AB now owns 43,308 shares of the industrial products company’s stock valued at $18,551,000 after buying an additional 2,100 shares during the last quarter. TruWealth Advisors LLC boosted its position in shares of Hubbell by 15.5% during the third quarter. TruWealth Advisors LLC now owns 880 shares of the industrial products company’s stock worth $377,000 after buying an additional 118 shares during the period. CHB Investment Group LLC bought a new position in Hubbell in the 3rd quarter worth approximately $3,007,000. Finally, Blue Trust Inc. increased its position in Hubbell by 61.9% in the 3rd quarter. Blue Trust Inc. now owns 518 shares of the industrial products company’s stock valued at $222,000 after acquiring an additional 198 shares during the period. 88.16% of the stock is currently owned by institutional investors.

Hubbell Stock Performance

HUBB opened at $389.93 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. The firm has a market cap of $20.93 billion, a PE ratio of 27.15, a P/E/G ratio of 1.36 and a beta of 0.92. The business has a fifty day simple moving average of $427.95 and a 200-day simple moving average of $423.00. Hubbell Incorporated has a fifty-two week low of $346.13 and a fifty-two week high of $481.35.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share 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 business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter last year, the company posted $3.69 EPS. Hubbell’s revenue for the quarter was down .9% on a year-over-year basis. As a group, equities analysts predict that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

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

Hubbell Announces Dividend

The company also recently disclosed 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 dividend payout ratio is 36.77%.

Analyst Ratings Changes

Several research analysts have recently issued reports on HUBB shares. Wells Fargo & Company decreased their price target on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Morgan Stanley raised their target price on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Barclays upped their price target on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Finally, Sanford C. Bernstein initiated coverage on Hubbell in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price for the company. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $471.50.

About Hubbell

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.