Union Bancaire Privee UBP SA Invests $2.88 Million in Hubbell Incorporated (NYSE:HUBB)

Union Bancaire Privee UBP SA bought a new position in Hubbell Incorporated (NYSE:HUBB) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 6,802 shares of the industrial products company’s stock, valued at approximately $2,878,000.

Other hedge funds have also recently modified their holdings of the company. Stonebridge Financial Group LLC purchased a new position in shares of Hubbell in the fourth quarter worth $30,000. Prospera Private Wealth LLC purchased a new stake in Hubbell during the third quarter valued at $33,000. Versant Capital Management Inc raised its stake in Hubbell by 64.6% during the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 31 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Hubbell during the third quarter valued at $41,000. Finally, Venturi Wealth Management LLC raised its stake in Hubbell by 69.7% during the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Trading Down 3.3 %

HUBB stock opened at $376.74 on Monday. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. Hubbell Incorporated has a twelve month low of $346.13 and a twelve month high of $481.35. The stock has a market capitalization of $20.22 billion, a price-to-earnings ratio of 26.24, a price-to-earnings-growth ratio of 1.34 and a beta of 0.92. The firm’s fifty day simple moving average is $420.03 and its two-hundred day simple moving average is $424.45.

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, beating analysts’ consensus estimates of $4.02 by $0.08. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The business’s revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.69 earnings per share. As a group, analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date is Friday, February 28th. Hubbell’s payout ratio is presently 36.77%.

Hubbell declared that its board has approved a share buyback program on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on HUBB shares. 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. Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a “buy” rating to a “hold” rating and decreased their price target for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Sanford C. Bernstein started coverage on shares of Hubbell in a research note on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price target on the stock. Morgan Stanley upped their price target on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Barclays upped their price target on shares of Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, Hubbell presently has a consensus rating of “Hold” and a consensus price target of $471.50.

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.