Aigen Investment Management LP Buys New Stake in Hubbell Incorporated (NYSE:HUBB)

Aigen Investment Management LP bought a new stake in shares of Hubbell Incorporated (NYSE:HUBB) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 1,047 shares of the industrial products company’s stock, valued at approximately $439,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Salem Investment Counselors Inc. increased its stake in Hubbell by 26.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 9,144 shares of the industrial products company’s stock worth $3,830,000 after buying an additional 1,886 shares during the period. Janney Montgomery Scott LLC increased its stake in Hubbell by 122.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 28,723 shares of the industrial products company’s stock worth $12,032,000 after buying an additional 15,806 shares during the period. Principal Financial Group Inc. increased its stake in Hubbell by 7.1% during the 3rd quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company’s stock worth $98,187,000 after buying an additional 15,215 shares during the period. LGT Capital Partners LTD. purchased a new stake in Hubbell during the 3rd quarter worth $39,687,000. Finally, Impax Asset Management Group plc increased its position in shares of Hubbell by 30.3% in the 3rd quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock worth $514,377,000 after purchasing an additional 279,654 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Price Performance

Shares of NYSE:HUBB opened at $355.05 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 firm has a 50-day simple moving average of $406.11 and a 200 day simple moving average of $422.79. The company has a market cap of $19.05 billion, a PE ratio of 24.73, a P/E/G ratio of 1.34 and a beta of 0.95. Hubbell Incorporated has a fifty-two week low of $337.97 and a fifty-two week high of $481.35.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.02 by $0.08. The firm 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%. Hubbell’s revenue was down .9% on a year-over-year basis. During the same period in the previous year, the business posted $3.69 EPS. On average, sell-side analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a $1.32 dividend. The ex-dividend date is Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.49%. Hubbell’s payout ratio is currently 36.77%.

Hubbell announced that its board has initiated a stock buyback program on Wednesday, February 12th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the industrial products company to repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

HUBB has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a “buy” rating to a “hold” rating and dropped their target price for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. Barclays dropped their target price on shares of Hubbell from $475.00 to $422.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Finally, Wells Fargo & Company dropped 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. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Hubbell has a consensus rating of “Hold” and an average target price of $464.88.

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 shares were sold at an average price of $389.06, for a total value of $452,865.84. Following the transaction, the insider now owns 4,327 shares in the company, valued at approximately $1,683,462.62. This represents a 21.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.66% of the company’s stock.

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.