Arizona State Retirement System Purchases 210 Shares of Hubbell Incorporated (NYSE:HUBB)

Arizona State Retirement System boosted its position in Hubbell Incorporated (NYSE:HUBB) by 1.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,591 shares of the industrial products company’s stock after buying an additional 210 shares during the period. Arizona State Retirement System’s holdings in Hubbell were worth $6,531,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Groupama Asset Managment increased its position in Hubbell by 17.0% in the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock valued at $30,000 after buying an additional 1,010 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in Hubbell during the 4th quarter worth approximately $30,000. Prospera Private Wealth LLC bought a new stake in Hubbell during the 3rd quarter worth approximately $33,000. Versant Capital Management Inc increased its holdings in Hubbell by 64.6% during the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 31 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in Hubbell during the 3rd quarter worth approximately $41,000. 88.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

HUBB has been the subject of a number of recent research reports. Wells Fargo & Company decreased their price objective on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft lowered Hubbell from a “buy” rating to a “hold” rating and reduced their target price for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Barclays reduced their target price on Hubbell from $475.00 to $422.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Finally, StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Hubbell has a consensus rating of “Hold” and an average price target of $464.88.

Insider Activity at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total transaction of $452,865.84. Following the sale, the insider now owns 4,327 shares in the company, valued at $1,683,462.62. This represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.66% of the stock is owned by company insiders.

Hubbell Price Performance

Hubbell stock opened at $355.05 on Friday. Hubbell Incorporated has a 12 month low of $337.97 and a 12 month high of $481.35. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The business’s 50 day simple moving average is $406.11 and its 200 day simple moving average is $422.79. The company has a market cap of $19.05 billion, a price-to-earnings ratio of 24.73, a PEG ratio of 1.34 and a beta of 0.95.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 EPS for the quarter, beating 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 the consensus estimate of $1.41 billion. During the same quarter in the prior year, the business earned $3.69 earnings per share. Hubbell’s revenue for the quarter was down .9% on a year-over-year basis. Sell-side analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Dividend Announcement

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

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

Hubbell 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.