ING Groep NV Raises Stake in Hubbell Incorporated (NYSE:HUBB)

ING Groep NV increased its position in Hubbell Incorporated (NYSE:HUBB) by 32.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,855 shares of the industrial products company’s stock after acquiring an additional 1,676 shares during the period. ING Groep NV’s holdings in Hubbell were worth $2,871,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Creative Planning grew its position in shares of Hubbell by 19.3% in the third quarter. Creative Planning now owns 4,144 shares of the industrial products company’s stock valued at $1,775,000 after purchasing an additional 671 shares during the last quarter. Blue Trust Inc. increased its position in Hubbell by 61.9% during the third quarter. Blue Trust Inc. now owns 518 shares of the industrial products company’s stock worth $222,000 after buying an additional 198 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Hubbell by 20.3% in the third quarter. Signaturefd LLC now owns 278 shares of the industrial products company’s stock worth $119,000 after acquiring an additional 47 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of Hubbell by 10.8% in the third quarter. Private Advisor Group LLC now owns 5,196 shares of the industrial products company’s stock worth $2,226,000 after acquiring an additional 508 shares during the last quarter. Finally, Greenleaf Trust lifted its position in shares of Hubbell by 10.4% in the third quarter. Greenleaf Trust now owns 761 shares of the industrial products company’s stock valued at $326,000 after acquiring an additional 72 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Trading Down 3.3 %

HUBB stock opened at $376.74 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. The company has a market cap of $20.22 billion, a price-to-earnings ratio of 26.24, a PEG ratio of 1.34 and a beta of 0.92. The business has a fifty day simple moving average of $420.03 and a 200-day simple moving average of $423.99. Hubbell Incorporated has a 52 week low of $346.13 and a 52 week high of $481.35.

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

Hubbell Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a dividend of $1.32 per share. The ex-dividend date is Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a yield of 1.40%. Hubbell’s dividend payout ratio (DPR) is 36.77%.

Hubbell declared that its Board of Directors has approved 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 reacquire up to 2.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Morgan Stanley lifted their price objective on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a “buy” rating to a “hold” rating and lowered their price target for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. Wells Fargo & Company reduced their price objective on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Finally, Sanford C. Bernstein assumed coverage on Hubbell in a research note on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $471.50.

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.