Bogart Wealth LLC Has $173,000 Holdings in Hubbell Incorporated (NYSE:HUBB)

Bogart Wealth LLC grew its stake in Hubbell Incorporated (NYSE:HUBB) by 93.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 413 shares of the industrial products company’s stock after purchasing an additional 200 shares during the period. Bogart Wealth LLC’s holdings in Hubbell were worth $173,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Stonebridge Financial Group LLC acquired a new stake in Hubbell in the 4th quarter worth $30,000. Prospera Private Wealth LLC acquired a new stake in Hubbell in the 3rd quarter worth $33,000. Versant Capital Management Inc grew its position in 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 purchasing an additional 31 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in Hubbell in the 3rd quarter worth $41,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Hubbell in the 3rd quarter worth $58,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Hubbell Trading Down 0.8 %

Shares of HUBB stock opened at $389.93 on Friday. Hubbell Incorporated has a 12-month low of $346.13 and a 12-month high of $481.35. The company has a market capitalization of $20.93 billion, a P/E ratio of 27.15, a P/E/G ratio of 1.36 and a beta of 0.92. The firm has a 50-day moving average price of $427.95 and a 200 day moving average price of $423.00. The company has a quick ratio of 1.05, 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 (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.08. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period last year, the firm posted $3.69 EPS. The firm’s quarterly revenue was down .9% on a year-over-year basis. Research analysts forecast that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

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

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders 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 dividend yield of 1.35%. The ex-dividend date is Friday, February 28th. Hubbell’s dividend payout ratio is presently 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.