Headlands Technologies LLC Takes Position in Hubbell Incorporated (NYSE:HUBB)

Headlands Technologies LLC acquired a new position in Hubbell Incorporated (NYSE:HUBB) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 300 shares of the industrial products company’s stock, valued at approximately $126,000.

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

Hubbell Stock Down 1.8 %

HUBB stock opened at $315.69 on Friday. The business’s 50-day moving average price is $367.74 and its 200-day moving average price is $416.07. The stock has a market cap of $16.94 billion, a P/E ratio of 21.98, a PEG ratio of 1.34 and a beta of 0.95. Hubbell Incorporated has a twelve month low of $299.43 and a twelve month high of $481.35. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44.

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

Hubbell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date of this dividend was Friday, February 28th. Hubbell’s dividend payout ratio (DPR) is 36.77%.

Hubbell declared that its board has authorized a stock buyback plan on Wednesday, February 12th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the industrial products company to purchase up to 2.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. 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 report on Tuesday, January 7th. StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Barclays lowered their target price on Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 26th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $462.13.

Insider Buying and Selling

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the company’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 value of $452,865.84. Following the completion of the transaction, the insider now directly owns 4,327 shares in the company, valued at $1,683,462.62. This represents a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.66% of the stock is currently owned by company insiders.

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.