Groupama Asset Managment Purchases 3,877 Shares of Hubbell Incorporated (NYSE:HUBB)

Groupama Asset Managment raised its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 55.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,832 shares of the industrial products company’s stock after acquiring an additional 3,877 shares during the quarter. Groupama Asset Managment’s holdings in Hubbell were worth $4,541,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank bought a new position in shares of Hubbell in the 4th quarter valued at about $195,218,000. Raymond James Financial Inc. acquired a new position in Hubbell during the fourth quarter valued at approximately $63,647,000. Bank of New York Mellon Corp boosted its position in Hubbell by 4.8% during the fourth 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 purchasing an additional 129,490 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Hubbell during the 4th quarter worth approximately $40,533,000. Finally, Vontobel Holding Ltd. increased its position in shares of Hubbell by 9,720.7% during the 4th quarter. Vontobel Holding Ltd. now owns 74,048 shares of the industrial products company’s stock worth $31,018,000 after purchasing an additional 73,294 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

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 transaction, the insider now owns 4,327 shares in the company, valued at $1,683,462.62. This trade represents a 21.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Barclays decreased their target price on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 26th. Wells Fargo & Company cut their price target on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Finally, StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Wednesday, March 26th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Hubbell currently has a consensus rating of “Hold” and an average target price of $462.13.

Hubbell Price Performance

NYSE:HUBB opened at $332.53 on Wednesday. The company has a market cap of $17.85 billion, a P/E ratio of 23.16, a P/E/G ratio of 1.34 and a beta of 0.94. The firm’s fifty day moving average price is $375.48 and its two-hundred day moving average price is $417.88. Hubbell Incorporated has a one year low of $316.34 and a one year high of $481.35. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $4.02 by $0.08. The business had revenue of $1.33 billion for 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 quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.69 EPS. Equities analysts expect that Hubbell Incorporated will post 17.63 earnings per share for the current year.

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

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a dividend of $1.32 per share. The ex-dividend date was Friday, February 28th. This represents a $5.28 annualized dividend and a yield of 1.59%. Hubbell’s payout ratio is currently 36.77%.

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.