Rialto Wealth Management LLC Takes $96,000 Position in Hubbell Incorporated (NYSE:HUBB)

Rialto Wealth Management LLC acquired a new position in Hubbell Incorporated (NYSE:HUBB) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 229 shares of the industrial products company’s stock, valued at approximately $96,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in HUBB. HM Payson & Co. raised its position in Hubbell by 6.7% in the fourth quarter. HM Payson & Co. now owns 152,040 shares of the industrial products company’s stock worth $63,688,000 after acquiring an additional 9,528 shares during the period. PNC Financial Services Group Inc. grew its position in shares of Hubbell by 1.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 350,367 shares of the industrial products company’s stock valued at $146,765,000 after acquiring an additional 3,586 shares during the period. Bank Julius Baer & Co. Ltd Zurich increased its stake in shares of Hubbell by 170.7% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 36,067 shares of the industrial products company’s stock worth $15,262,000 after purchasing an additional 22,744 shares in the last quarter. Candriam S.C.A. raised its holdings in Hubbell by 3.2% in the 4th quarter. Candriam S.C.A. now owns 7,622 shares of the industrial products company’s stock worth $3,193,000 after purchasing an additional 236 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Hubbell during the fourth quarter valued at $63,647,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Activity

In other news, insider Alyssa R. Flynn sold 1,164 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $389.06, for a total transaction of $452,865.84. Following the sale, the insider now directly owns 4,327 shares in the company, valued at approximately $1,683,462.62. This represents a 21.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Hubbell Stock Performance

HUBB opened at $355.05 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. The stock has a market capitalization of $19.05 billion, a price-to-earnings ratio of 24.73, a PEG ratio of 1.34 and a beta of 0.94. The company has a fifty day moving average of $406.11 and a 200 day moving average of $423.15. Hubbell Incorporated has a fifty-two week low of $337.97 and a fifty-two week high of $481.35.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data 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. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.41 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The business’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the business posted $3.69 earnings per share. As a group, sell-side analysts forecast that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell announced that its Board of Directors has authorized a stock buyback 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 purchase up to 2.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Hubbell Announces Dividend

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

Analysts Set New Price Targets

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

Hubbell Company 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.