Cavalier Investments LLC Raises Stake in Hubbell Incorporated (NYSE:HUBB)

Cavalier Investments LLC boosted its position in Hubbell Incorporated (NYSE:HUBB) by 2.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,896 shares of the industrial products company’s stock after purchasing an additional 48 shares during the period. Cavalier Investments LLC’s holdings in Hubbell were worth $794,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Groupama Asset Managment boosted its stake in Hubbell by 17.0% in the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock worth $30,000 after buying an additional 1,010 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in shares of Hubbell during the fourth quarter valued at approximately $30,000. Prospera Private Wealth LLC purchased a new stake in shares of Hubbell during the third quarter valued at approximately $33,000. Versant Capital Management Inc boosted its stake 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 valued at $33,000 after purchasing an additional 31 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Hubbell during the third quarter valued at approximately $41,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insiders Place Their Bets

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction on 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 transaction, the insider now 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 can be accessed through this link. 0.66% of the stock is owned by corporate insiders.

Hubbell Stock Performance

Shares of HUBB stock opened at $372.25 on Wednesday. The stock has a fifty day moving average of $418.28 and a 200 day moving average of $424.41. Hubbell Incorporated has a 52 week low of $346.13 and a 52 week high of $481.35. The firm has a market capitalization of $19.98 billion, a price-to-earnings ratio of 25.92, a PEG 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 posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.02 by $0.08. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.41 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.69 earnings per share. As a group, research analysts expect that Hubbell Incorporated will post 17.63 earnings per share for the current year.

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

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a $1.32 dividend. 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 1.42%. Hubbell’s dividend payout ratio (DPR) is 36.77%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on HUBB. StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Deutsche Bank Aktiengesellschaft lowered Hubbell from a “buy” rating to a “hold” rating and dropped their price objective for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Wells Fargo & Company dropped their price objective 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. Sanford C. Bernstein initiated coverage on Hubbell in a research note on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price objective for the company. Finally, Barclays raised their price target on Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $471.50.

Hubbell 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.