Grantham Mayo Van Otterloo & Co. LLC Has $19.43 Million Position in Hubbell Incorporated (NYSE:HUBB)

Grantham Mayo Van Otterloo & Co. LLC cut its position in shares of Hubbell Incorporated (NYSE:HUBB) by 35.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 46,376 shares of the industrial products company’s stock after selling 25,300 shares during the period. Grantham Mayo Van Otterloo & Co. LLC owned 0.09% of Hubbell worth $19,426,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of HUBB. Dynamic Technology Lab Private Ltd acquired a new position in Hubbell during the fourth quarter worth approximately $607,000. KCM Investment Advisors LLC boosted its stake in shares of Hubbell by 26.0% during the 4th quarter. KCM Investment Advisors LLC now owns 1,260 shares of the industrial products company’s stock worth $528,000 after acquiring an additional 260 shares during the period. Resona Asset Management Co. Ltd. acquired a new position in shares of Hubbell during the 4th quarter worth approximately $6,667,000. Wells Fargo & Company MN raised its stake in Hubbell by 7.4% in the 4th quarter. Wells Fargo & Company MN now owns 125,775 shares of the industrial products company’s stock valued at $52,686,000 after acquiring an additional 8,662 shares during the period. Finally, Prudential PLC lifted its holdings in Hubbell by 45.5% during the 4th quarter. Prudential PLC now owns 25,082 shares of the industrial products company’s stock valued at $10,507,000 after purchasing an additional 7,846 shares during the last quarter. 88.16% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on HUBB. Barclays decreased their price objective on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 26th. Wells Fargo & Company decreased their price target on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Finally, StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a report on Thursday. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $462.13.

Hubbell Stock Down 1.8 %

NYSE HUBB opened at $315.69 on Friday. 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 cap of $16.94 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 1.34 and a beta of 0.95. The company has a 50 day moving average of $367.74 and a 200-day moving average of $416.07. Hubbell Incorporated has a 1-year low of $299.43 and a 1-year high of $481.35.

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

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.67%. The ex-dividend date was Friday, February 28th. Hubbell’s dividend payout ratio is currently 36.77%.

Hubbell declared that its Board of Directors has approved a stock buyback program on Wednesday, February 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the industrial products company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell 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 transaction, the insider now owns 4,327 shares in the company, valued at approximately $1,683,462.62. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

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.