Versor Investments LP Takes $754,000 Position in Hubbell Incorporated (NYSE:HUBB)

Versor Investments LP bought a new stake in Hubbell Incorporated (NYSE:HUBB) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 1,801 shares of the industrial products company’s stock, valued at approximately $754,000.

Other institutional investors also recently modified their holdings of the company. Stonebridge Financial Group LLC bought a new position in Hubbell during the fourth quarter valued at $30,000. Prospera Private Wealth LLC bought a new position in Hubbell during the third quarter valued at $33,000. Versant Capital Management Inc grew its holdings in 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. Ashton Thomas Securities LLC bought a new position in Hubbell during the third quarter valued at $41,000. Finally, Venturi Wealth Management LLC grew its holdings in Hubbell by 69.7% during the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 53 shares during the period. 88.16% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Hubbell 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 transaction of $452,865.84. Following the sale, the insider now owns 4,327 shares in the company, valued at $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.66% of the stock is currently owned by company insiders.

Hubbell Trading Up 0.6 %

NYSE:HUBB opened at $371.51 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. Hubbell Incorporated has a 1 year low of $346.13 and a 1 year high of $481.35. The company has a market cap of $19.94 billion, a P/E ratio of 25.87, a P/E/G ratio of 1.34 and a beta of 0.92. The stock’s fifty day moving average price is $414.87 and its two-hundred day moving average price is $423.67.

Hubbell (NYSE:HUBB) last issued 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. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter last year, the business posted $3.69 earnings per share. The firm’s revenue was down .9% compared to the same quarter last year. As a group, analysts expect that Hubbell Incorporated will post 17.63 EPS for the current year.

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

Hubbell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be given a $1.32 dividend. The ex-dividend date is Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.42%. Hubbell’s dividend payout ratio (DPR) is presently 36.77%.

Analyst Ratings Changes

Several equities analysts have weighed in on HUBB shares. Deutsche Bank Aktiengesellschaft lowered Hubbell from a “buy” rating to a “hold” rating and reduced their price objective for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Barclays increased their price objective on Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Sanford C. Bernstein assumed coverage on Hubbell in a research report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 target price on the stock. Finally, Wells Fargo & Company dropped their target price on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Hubbell has a consensus rating of “Hold” and an average price target 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.