Assetmark Inc. Increases Holdings in Hubbell Incorporated (NYSE:HUBB)

Assetmark Inc. increased its stake in Hubbell Incorporated (NYSE:HUBB) by 7.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,888 shares of the industrial products company’s stock after acquiring an additional 453 shares during the period. Assetmark Inc.’s holdings in Hubbell were worth $2,885,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in HUBB. Impax Asset Management Group plc lifted its stake in Hubbell by 30.3% in the third 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. Concurrent Investment Advisors LLC raised its holdings in shares of Hubbell by 3.1% in the third quarter. Concurrent Investment Advisors LLC now owns 1,280 shares of the industrial products company’s stock worth $548,000 after buying an additional 38 shares during the period. Verdence Capital Advisors LLC lifted its stake in shares of Hubbell by 7.0% during the 3rd quarter. Verdence Capital Advisors LLC now owns 2,157 shares of the industrial products company’s stock worth $924,000 after acquiring an additional 142 shares during the last quarter. Atria Investments Inc boosted its holdings in Hubbell by 2.2% during the 3rd quarter. Atria Investments Inc now owns 2,689 shares of the industrial products company’s stock valued at $1,152,000 after acquiring an additional 59 shares during the period. Finally, Sustainable Insight Capital Management LLC boosted its holdings in Hubbell by 18.1% during the 3rd quarter. Sustainable Insight Capital Management LLC now owns 8,500 shares of the industrial products company’s stock valued at $3,641,000 after acquiring an additional 1,300 shares during the period. 88.16% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

HUBB has been the subject of a number of research analyst reports. Wells Fargo & Company decreased their price objective on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a report 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. Barclays dropped their price objective on Hubbell from $475.00 to $422.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft lowered Hubbell from a “buy” rating to a “hold” rating and decreased their target price for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. Five 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 an average rating of “Hold” and an average price target of $464.88.

Hubbell Trading Up 2.5 %

Shares of NYSE:HUBB opened at $355.05 on Monday. 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 company has a market capitalization of $19.05 billion, a PE ratio of 24.73, a P/E/G ratio of 1.34 and a beta of 0.94. Hubbell Incorporated has a 12-month low of $337.97 and a 12-month high of $481.35. The business’s fifty day simple moving average is $406.11 and its 200-day simple moving average is $423.49.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 EPS 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 the consensus estimate of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. During the same period in the previous year, the company posted $3.69 earnings per share. The firm’s revenue was down .9% on a year-over-year basis. As a group, equities research analysts predict that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders 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 dividend payout ratio (DPR) is 36.77%.

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

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction dated 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 sale, the insider now directly owns 4,327 shares in the company, valued at approximately $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.66% of the stock is owned by 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.