Impax Asset Management Group plc Has $428.30 Million Stock Position in Hubbell Incorporated (NYSE:HUBB)

Impax Asset Management Group plc lowered its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 14.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,024,120 shares of the industrial products company’s stock after selling 178,335 shares during the period. Hubbell makes up approximately 1.9% of Impax Asset Management Group plc’s holdings, making the stock its 10th biggest position. Impax Asset Management Group plc owned approximately 1.91% of Hubbell worth $428,301,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. RWC Asset Management LLP bought a new position in shares of Hubbell during the 4th quarter valued at $22,375,000. Y Intercept Hong Kong Ltd purchased a new stake in Hubbell during the fourth quarter valued at $1,130,000. Union Bancaire Privee UBP SA purchased a new stake in Hubbell during the fourth quarter valued at $2,878,000. MONECO Advisors LLC bought a new position in Hubbell in the fourth quarter valued at about $281,000. Finally, TCW Group Inc. purchased a new position in Hubbell in the fourth quarter worth about $6,962,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Trading Down 3.3 %

Shares of HUBB stock opened at $376.74 on Monday. 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 fifty day simple moving average of $420.03 and a two-hundred day simple moving average of $424.45. The firm has a market capitalization of $20.22 billion, a PE ratio of 26.24, a PEG ratio of 1.34 and a beta of 0.92. Hubbell Incorporated has a 52-week low of $346.13 and a 52-week high of $481.35.

Hubbell (NYSE:HUBB) last released its 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. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter last year, the business posted $3.69 earnings per share. The firm’s revenue was down .9% on a year-over-year basis. On average, analysts predict that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Friday, February 28th. Hubbell’s dividend payout ratio (DPR) is presently 36.77%.

Hubbell announced that its Board of Directors has initiated a share repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Sanford C. Bernstein started coverage on shares of Hubbell in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price objective on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a “buy” rating to a “hold” rating and decreased their price target for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Barclays raised their target price on Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Finally, Wells Fargo & Company cut their price target on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus 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.