Commerzbank Aktiengesellschaft FI Takes Position in Hubbell Incorporated (NYSE:HUBB)

Commerzbank Aktiengesellschaft FI purchased a new stake in Hubbell Incorporated (NYSE:HUBB) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 508 shares of the industrial products company’s stock, valued at approximately $213,000.

Several other hedge funds and other institutional investors have also bought and sold shares of HUBB. Groupama Asset Managment raised its holdings 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 purchasing an additional 1,010 shares during the period. Stonebridge Financial Group LLC bought a new stake in shares of Hubbell in the 4th quarter valued at $30,000. Prospera Private Wealth LLC acquired a new stake in Hubbell during the 3rd quarter worth $33,000. Versant Capital Management Inc lifted 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 worth $33,000 after acquiring an additional 31 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in Hubbell in the third quarter valued at about $41,000. 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 shares were 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 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.66% of the company’s stock.

Hubbell Stock Performance

Shares of HUBB stock opened at $354.38 on Thursday. Hubbell Incorporated has a 12 month low of $340.38 and a 12 month high of $481.35. The company’s fifty day simple moving average is $409.16 and its 200-day simple moving average is $423.47. The firm has a market cap of $19.02 billion, a PE ratio of 24.68, a P/E/G ratio of 1.34 and a beta of 0.95. 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 issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 EPS for the quarter, topping the consensus estimate of $4.02 by $0.08. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The company’s revenue for the quarter was down .9% on a year-over-year basis. During the same period in the previous year, the firm posted $3.69 EPS. Equities research analysts expect that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell announced that its Board of Directors has initiated a stock 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 purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Hubbell Announces Dividend

The business also recently declared 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. The ex-dividend date is Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a yield of 1.49%. Hubbell’s dividend payout ratio is 36.77%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on HUBB shares. Wells Fargo & Company dropped their price target 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. Barclays dropped their target price on shares of Hubbell from $475.00 to $422.00 and set an “equal weight” rating on the stock in a report on Monday. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $464.88.

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.