Pacer Advisors Inc. Grows Holdings in Hubbell Incorporated (NYSE:HUBB)

Pacer Advisors Inc. grew its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 43.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,736 shares of the industrial products company’s stock after buying an additional 1,741 shares during the quarter. Pacer Advisors Inc.’s holdings in Hubbell were worth $2,403,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Groupama Asset Managment raised its position in Hubbell by 17.0% during the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 1,010 shares in the last quarter. Prospera Private Wealth LLC bought a new position in shares of Hubbell during the 3rd quarter valued at about $33,000. Versant Capital Management Inc raised its holdings in shares of Hubbell by 64.6% during the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after buying an additional 31 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Hubbell in the 3rd quarter worth approximately $41,000. Finally, Quarry LP purchased a new stake in Hubbell in the second quarter worth approximately $49,000. 88.16% of the stock is owned by institutional investors.

Hubbell Trading Down 0.9 %

HUBB opened at $422.94 on Friday. Hubbell Incorporated has a one year low of $334.17 and a one year high of $481.35. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. The business has a 50 day simple moving average of $439.29 and a two-hundred day simple moving average of $421.26. The firm has a market capitalization of $22.70 billion, a price-to-earnings ratio of 30.47, a PEG ratio of 1.43 and a beta of 0.93.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating analysts’ consensus estimates of $4.47 by $0.02. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the company earned $3.95 earnings per share. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. Analysts predict that Hubbell Incorporated will post 16.48 EPS for the current year.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.25%. Hubbell’s dividend payout ratio (DPR) is presently 38.04%.

Wall Street Analysts Forecast Growth

Several research firms have commented on HUBB. Morgan Stanley lifted their price target on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Barclays boosted their price target on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. cut Hubbell from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $385.00 to $454.00 in a research note on Thursday, October 10th. Mizuho boosted their target price on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a research report on Tuesday. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Hubbell currently has a consensus rating of “Hold” and an average target price of $471.50.

Insider Transactions at Hubbell

In other news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the transaction, the insider now owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. This represents a 27.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.66% of the company’s stock.

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.