Algebris UK Ltd Takes $1.07 Million Position in Hubbell Incorporated (NYSE:HUBB)

Algebris UK Ltd bought a new position in shares of Hubbell Incorporated (NYSE:HUBB) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,635 shares of the industrial products company’s stock, valued at approximately $1,066,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB increased its holdings in Hubbell by 12.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company’s stock worth $96,000 after purchasing an additional 25 shares in the last quarter. JGP Wealth Management LLC grew its stake in shares of Hubbell by 1.2% in the 4th quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company’s stock worth $884,000 after acquiring an additional 26 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in shares of Hubbell by 0.5% in the fourth quarter. Sanctuary Advisors LLC now owns 5,422 shares of the industrial products company’s stock valued at $2,313,000 after purchasing an additional 27 shares during the last quarter. Avestar Capital LLC grew its position in Hubbell by 5.1% in the 3rd quarter. Avestar Capital LLC now owns 577 shares of the industrial products company’s stock worth $247,000 after purchasing an additional 28 shares in the last quarter. Finally, BHK Investment Advisors LLC grew its position in Hubbell by 2.3% in the 4th quarter. BHK Investment Advisors LLC now owns 1,351 shares of the industrial products company’s stock worth $566,000 after purchasing an additional 30 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Insider Activity at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell 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 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.78% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

HUBB has been the topic of several recent analyst reports. Wells Fargo & Company dropped 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. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Barclays reduced their price objective on Hubbell from $475.00 to $422.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and lowered their target price for the stock from $493.00 to $473.00 in a research note on Tuesday, November 26th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $464.88.

Hubbell Stock Performance

NYSE:HUBB opened at $335.96 on Wednesday. The company has a market capitalization of $18.03 billion, a P/E ratio of 23.40, a P/E/G ratio of 1.34 and a beta of 0.95. The business has a fifty day simple moving average of $393.80 and a two-hundred day simple moving average of $420.99. 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 $330.32 and a 1 year high of $481.35.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the prior year, the company earned $3.69 EPS. The firm’s quarterly revenue was down .9% compared to the same quarter last year. On average, analysts expect that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell declared that its board has authorized a share buyback 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 buy up to 2.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Hubbell Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Friday, February 28th. Hubbell’s dividend payout ratio (DPR) is currently 36.77%.

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.