Hubbell Incorporated (NYSE:HUBB) Shares Purchased by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd raised its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 12.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,761 shares of the industrial products company’s stock after acquiring an additional 637 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Hubbell were worth $2,413,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HUBB. Raymond James Financial Inc. purchased a new stake in shares of Hubbell in the fourth quarter valued at $63,647,000. Bank of New York Mellon Corp raised 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 purchasing an additional 129,490 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in Hubbell in the 4th quarter valued at about $40,533,000. Vontobel Holding Ltd. boosted its stake in shares of Hubbell by 9,720.7% during the 4th quarter. Vontobel Holding Ltd. now owns 74,048 shares of the industrial products company’s stock worth $31,018,000 after purchasing an additional 73,294 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Hubbell by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 6,634,705 shares of the industrial products company’s stock worth $2,779,212,000 after buying an additional 65,033 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Insider Transactions at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 4,327 shares in the company, valued at approximately $1,683,462.62. The trade was a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on HUBB shares. Barclays reduced their price target on Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a research note on Wednesday. StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Wells Fargo & Company dropped 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. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $462.13.

Hubbell Trading Down 3.0 %

NYSE:HUBB opened at $331.68 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. The business’s 50-day simple moving average is $379.97 and its 200 day simple moving average is $418.68. The stock has a market cap of $17.80 billion, a price-to-earnings ratio of 23.10, a price-to-earnings-growth ratio of 1.34 and a beta of 0.94. Hubbell Incorporated has a one year low of $330.32 and a one year high of $481.35.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data 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 net margin of 13.82% and a return on equity of 28.62%. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the prior year, the firm earned $3.69 EPS. The company’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, sell-side analysts predict that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell declared that its Board of Directors has initiated a share buyback program on Wednesday, February 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the industrial products company to buy up to 2.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board believes its stock is undervalued.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend was Friday, February 28th. Hubbell’s dividend payout ratio (DPR) is 36.77%.

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.