Cavalier Investments LLC Boosts Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Cavalier Investments LLC grew its position in shares of Hubbell Incorporated (NYSE:HUBB) by 2.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,896 shares of the industrial products company’s stock after acquiring an additional 48 shares during the quarter. Cavalier Investments LLC’s holdings in Hubbell were worth $794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Stonebridge Financial Group LLC purchased a new position in shares of Hubbell in the 4th quarter worth about $30,000. Prospera Private Wealth LLC purchased a new position in shares of Hubbell in the 3rd quarter worth about $33,000. Versant Capital Management Inc boosted its holdings in shares of Hubbell by 64.6% in the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after buying an additional 31 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Hubbell in the 3rd quarter worth about $41,000. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Hubbell by 69.7% in the 4th quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock worth $54,000 after buying an additional 53 shares during the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Trading Up 0.8 %

Shares of HUBB opened at $372.25 on Wednesday. The business’s 50-day moving average price is $418.28 and its 200-day moving average price is $424.41. Hubbell Incorporated has a twelve month low of $346.13 and a twelve month high of $481.35. The stock has a market cap of $19.98 billion, a PE ratio of 25.92, a P/E/G ratio of 1.34 and a beta of 0.92. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44.

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

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Friday, February 28th. Hubbell’s dividend payout ratio is presently 36.77%.

Hubbell declared that its board has authorized a stock buyback program on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

HUBB has been the topic of a number of research analyst reports. Wells Fargo & Company cut their price target 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. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Morgan Stanley upped their price objective on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Barclays upped their price objective on shares of Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Finally, Sanford C. Bernstein initiated coverage on shares of Hubbell in a report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $471.50.

Insider Activity

In related news, insider Alyssa R. Flynn sold 1,164 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total value of $452,865.84. Following the transaction, the insider now directly owns 4,327 shares in the company, valued at approximately $1,683,462.62. This represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.66% of the company’s stock.

Hubbell Company 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.