Algebris UK Ltd Acquires New Shares in Hubbell Incorporated (NYSE:HUBB)

Algebris UK Ltd bought a new position in shares of Hubbell Incorporated (NYSE:HUBB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,635 shares of the industrial products company’s stock, valued at approximately $1,066,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in HUBB. Creative Financial Designs Inc. ADV boosted its holdings in shares of Hubbell by 85.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 30 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of Hubbell during the fourth quarter valued at about $30,000. Prospera Private Wealth LLC bought a new stake in shares of Hubbell during the third quarter worth about $33,000. Versant Capital Management Inc grew its holdings in shares of Hubbell by 64.6% during the fourth 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 last quarter. Finally, Venturi Wealth Management LLC increased its stake in shares of Hubbell by 69.7% in the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock valued at $54,000 after buying an additional 53 shares during the period. Institutional investors own 88.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on HUBB shares. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and reduced their target price for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. Wells Fargo & Company reduced their price objective on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Finally, Barclays cut 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, March 3rd. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Hubbell currently has an average rating of “Hold” and a consensus price target of $464.88.

Insider Activity at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $389.06, for a total value of $452,865.84. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which is available at this link. 0.78% of the stock is owned by corporate insiders.

Hubbell Stock Performance

Shares of HUBB opened at $335.96 on Wednesday. The firm’s fifty day simple moving average is $393.80 and its two-hundred day simple moving average is $420.99. Hubbell Incorporated has a 12 month low of $330.32 and a 12 month high of $481.35. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $18.03 billion, a P/E ratio of 23.40, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 EPS for the quarter, beating the consensus estimate of $4.02 by $0.08. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.41 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.69 EPS. As a group, analysts predict that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a $1.32 dividend. The ex-dividend date was Friday, February 28th. This represents a $5.28 annualized dividend and a dividend yield of 1.57%. Hubbell’s dividend payout ratio is currently 36.77%.

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

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.