885 Shares in Hubbell Incorporated (NYSE:HUBB) Bought by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. bought a new position in shares of Hubbell Incorporated (NYSE:HUBB) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 885 shares of the industrial products company’s stock, valued at approximately $371,000.

Other institutional investors have also added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV grew its holdings in shares of Hubbell by 85.7% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 30 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in Hubbell in the 4th quarter worth approximately $30,000. Versant Capital Management Inc increased its holdings in shares of Hubbell by 64.6% in the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after buying an additional 31 shares during the last quarter. Venturi Wealth Management LLC raised its position in shares of Hubbell by 69.7% during the 4th quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock valued at $54,000 after buying an additional 53 shares in the last quarter. Finally, Golden State Wealth Management LLC bought a new stake in shares of Hubbell during the 4th quarter worth $69,000. 88.16% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total transaction of $452,865.84. Following the transaction, the insider now directly owns 4,327 shares of the company’s stock, valued at approximately $1,683,462.62. The trade was a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

Hubbell Stock Performance

Shares of HUBB stock opened at $331.68 on Friday. The company has a market capitalization of $17.80 billion, a P/E ratio of 23.10, a PEG ratio of 1.34 and a beta of 0.94. Hubbell Incorporated has a fifty-two week low of $330.32 and a fifty-two week high of $481.35. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. The stock has a 50 day moving average price of $379.97 and a two-hundred day moving average price of $418.41.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, beating the consensus estimate of $4.02 by $0.08. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the prior year, the company posted $3.69 EPS. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. Analysts expect that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell declared that its Board of Directors has approved a stock buyback program on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the industrial products company to purchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Hubbell Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a dividend of $1.32 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a yield of 1.59%. Hubbell’s dividend payout ratio is presently 36.77%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a research note on Wednesday. Wells Fargo & Company decreased their price objective on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Finally, Barclays cut their target price on Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a research note on Wednesday. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $462.13.

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.