Hubbell Incorporated (NYSE:HUBB) Shares Acquired by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd raised its position in shares of Hubbell Incorporated (NYSE:HUBB) by 12.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,761 shares of the industrial products company’s stock after purchasing an additional 637 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Hubbell were worth $2,413,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Hubbell by 12.3% in 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 position in Hubbell by 1.2% in the fourth quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company’s stock worth $884,000 after buying an additional 26 shares during the last quarter. Sanctuary Advisors LLC increased 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 buying an additional 27 shares in the last quarter. Mindset Wealth Management LLC lifted its position in shares of Hubbell by 1.7% during the 4th quarter. Mindset Wealth Management LLC now owns 1,655 shares of the industrial products company’s stock valued at $693,000 after acquiring an additional 27 shares during the last quarter. Finally, BHK Investment Advisors LLC boosted its stake in shares of Hubbell by 2.3% during the 4th quarter. BHK Investment Advisors LLC now owns 1,351 shares of the industrial products company’s stock worth $566,000 after acquiring an additional 30 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other 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 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Hubbell Trading Down 3.0 %

Shares of Hubbell stock opened at $331.68 on Friday. Hubbell Incorporated has a 1 year low of $330.32 and a 1 year high of $481.35. The company’s fifty day simple moving average is $379.97 and its 200-day simple moving average is $418.68. The company has a market cap of $17.80 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 1.34 and a beta of 0.94. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.02 by $0.08. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The business’s quarterly revenue was down .9% on a year-over-year basis. During the same period last year, the business posted $3.69 EPS. As a group, sell-side 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 allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a $1.32 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $5.28 annualized dividend and a yield of 1.59%. Hubbell’s dividend payout ratio (DPR) is 36.77%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Barclays reduced their target price on Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a report on Wednesday. StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Wells Fargo & Company reduced their price target on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Hubbell presently has an average rating of “Hold” and a consensus price target of $462.13.

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.