Grant Private Wealth Management Inc Purchases New Stake in Hubbell Incorporated (NYSE:HUBB)

Grant Private Wealth Management Inc bought a new position in shares of Hubbell Incorporated (NYSE:HUBB) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,872 shares of the industrial products company’s stock, valued at approximately $784,000.

Several other hedge funds and other institutional investors also recently modified their holdings of HUBB. Vanguard Group Inc. increased its position in Hubbell by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 6,634,705 shares of the industrial products company’s stock worth $2,779,212,000 after purchasing an additional 65,033 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Hubbell by 4.8% during the 4th quarter. Bank of New York Mellon Corp now owns 2,826,327 shares of the industrial products company’s stock valued at $1,183,920,000 after acquiring an additional 129,490 shares in the last quarter. State Street Corp grew its position in Hubbell by 1.1% during the 3rd quarter. State Street Corp now owns 2,092,215 shares of the industrial products company’s stock worth $896,200,000 after acquiring an additional 22,507 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Hubbell by 6.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,510,430 shares of the industrial products company’s stock worth $632,704,000 after purchasing an additional 92,954 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in Hubbell by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 1,284,506 shares of the industrial products company’s stock valued at $536,641,000 after purchasing an additional 29,601 shares during the last quarter. Institutional investors own 88.16% of the company’s stock.

Insider Buying and Selling

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 4,327 shares of the company’s stock, valued at $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 is available through this link. 0.66% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Wells Fargo & Company dropped 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. Barclays decreased their price objective on Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. Finally, StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Hubbell currently has an average rating of “Hold” and an average target price of $462.13.

Hubbell Stock Performance

Shares of HUBB stock opened at $341.89 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. The firm has a 50-day moving average of $373.18 and a 200-day moving average of $417.35. Hubbell Incorporated has a one year low of $316.34 and a one year high of $481.35. The company has a market cap of $18.35 billion, a P/E ratio of 23.81, a P/E/G 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 earnings per share 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 business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the firm earned $3.69 earnings per share. The business’s revenue was down .9% on a year-over-year basis. Equities research analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

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

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a dividend of $1.32 per share. The ex-dividend date was Friday, February 28th. This represents a $5.28 annualized dividend and a dividend yield of 1.54%. Hubbell’s payout ratio is currently 36.77%.

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.