Hubbell Incorporated (NYSE:HUBB) Shares Purchased by Suncoast Equity Management

Suncoast Equity Management boosted its position in shares of Hubbell Incorporated (NYSE:HUBB) by 8.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,676 shares of the industrial products company’s stock after buying an additional 215 shares during the quarter. Suncoast Equity Management’s holdings in Hubbell were worth $1,121,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Groupama Asset Managment grew its position in shares of Hubbell by 17.0% during the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 1,010 shares during the period. Stonebridge Financial Group LLC purchased a new position in Hubbell during the fourth quarter worth approximately $30,000. Prospera Private Wealth LLC acquired a new stake in Hubbell in the third quarter valued at approximately $33,000. Versant Capital Management Inc increased its position in shares of Hubbell by 64.6% in the fourth 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. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Hubbell during the 3rd quarter worth approximately $41,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Stock Performance

HUBB opened at $389.04 on Friday. The firm has a market capitalization of $20.88 billion, a PE ratio of 27.09, a PEG ratio of 1.35 and a beta of 0.92. 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 Incorporated has a twelve month low of $346.13 and a twelve month high of $481.35. The firm’s 50-day moving average price is $421.57 and its 200 day moving average price is $423.47.

Hubbell (NYSE:HUBB) last issued its 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 business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the previous year, the firm posted $3.69 EPS. The business’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, sell-side analysts expect that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 12th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the industrial products company to buy up to 2.4% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Hubbell Announces Dividend

The business also recently announced 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. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend is Friday, February 28th. Hubbell’s dividend payout ratio (DPR) is presently 36.77%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Sanford C. Bernstein assumed coverage on shares of Hubbell in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price target on the stock. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Monday. Wells Fargo & Company cut their target price on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Barclays raised their price target on shares of Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Finally, Deutsche Bank Aktiengesellschaft lowered Hubbell from a “buy” rating to a “hold” rating and cut their price objective for the stock from $493.00 to $473.00 in a research note on Tuesday, November 26th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $471.50.

Hubbell Company 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.