Walter Public Investments Inc. Takes $5.82 Million Position in Hubbell Incorporated (NYSE:HUBB)

Walter Public Investments Inc. bought a new stake in Hubbell Incorporated (NYSE:HUBB) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 13,900 shares of the industrial products company’s stock, valued at approximately $5,823,000.

Other institutional investors have also modified their holdings of the company. Groupama Asset Managment raised its stake in shares of Hubbell by 17.0% in the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 1,010 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in Hubbell during the fourth quarter worth about $30,000. Prospera Private Wealth LLC acquired a new stake in Hubbell during the third quarter worth about $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 worth $33,000 after acquiring an additional 31 shares during the period. Finally, Ashton Thomas Securities LLC acquired a new stake in Hubbell during the third quarter worth about $41,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on HUBB. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Morgan Stanley increased their price objective on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Barclays increased their price objective on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Sanford C. Bernstein began coverage on shares of Hubbell in a research note on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and dropped their price target for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Hubbell currently has an average rating of “Hold” and a consensus price target of $471.50.

Insider Activity

In related news, insider Alyssa R. Flynn sold 1,164 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total transaction of $452,865.84. Following the completion of the sale, the insider now directly owns 4,327 shares in the company, valued at approximately $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.66% of the company’s stock.

Hubbell Price Performance

Shares of NYSE:HUBB opened at $377.81 on Thursday. The firm’s 50 day moving average is $416.93 and its two-hundred day moving average is $424.37. Hubbell Incorporated has a 52 week low of $346.13 and a 52 week high of $481.35. The firm has a market capitalization of $20.28 billion, a P/E ratio of 26.31, a PEG ratio of 1.34 and a beta of 0.92. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.08. The business had revenue of $1.33 billion during 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% on a year-over-year basis. During the same period last year, the firm posted $3.69 earnings per share. Analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

The business 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 $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Friday, February 28th. Hubbell’s dividend payout ratio (DPR) is presently 36.77%.

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

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.