Commerzbank Aktiengesellschaft FI Takes $213,000 Position in Hubbell Incorporated (NYSE:HUBB)

Commerzbank Aktiengesellschaft FI bought a new stake in shares of Hubbell Incorporated (NYSE:HUBB) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 508 shares of the industrial products company’s stock, valued at approximately $213,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mizuho Securities USA LLC boosted its holdings in Hubbell by 192,421.1% during the third quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock valued at $3,418,233,000 after purchasing an additional 7,975,855 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Hubbell by 4.8% in the 4th quarter. Bank of New York Mellon Corp now owns 2,826,327 shares of the industrial products company’s stock valued at $1,183,920,000 after buying an additional 129,490 shares in the last quarter. State Street Corp raised its stake in Hubbell by 1.1% during the third quarter. State Street Corp now owns 2,092,215 shares of the industrial products company’s stock worth $896,200,000 after acquiring an additional 22,507 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Hubbell by 6.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,417,476 shares of the industrial products company’s stock worth $607,176,000 after acquiring an additional 82,258 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Hubbell by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,254,905 shares of the industrial products company’s stock valued at $535,681,000 after acquiring an additional 8,278 shares during the period. Institutional investors own 88.16% of the company’s stock.

Hubbell Stock Performance

HUBB stock opened at $354.38 on Thursday. The company has a 50 day moving average price of $409.16 and a 200 day moving average price of $423.47. Hubbell Incorporated has a fifty-two week low of $340.38 and a fifty-two week high of $481.35. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. The stock has a market capitalization of $19.02 billion, a PE ratio of 24.68, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share 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 company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the previous year, the company posted $3.69 earnings per share. The firm’s quarterly revenue was down .9% on a year-over-year basis. Analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a yield of 1.49%. Hubbell’s payout ratio is presently 36.77%.

Hubbell announced that its Board of Directors has approved a stock repurchase plan on Wednesday, February 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the industrial products company to reacquire up to 2.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company dropped their target price on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. Barclays reduced their target price on Hubbell from $475.00 to $422.00 and set an “equal weight” rating on the stock in a report on Monday. Finally, StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $464.88.

Insider Activity

In related news, insider Alyssa R. Flynn sold 1,164 shares of the 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 $1,683,462.62. This represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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.