Financiere des Professionnels Fonds d investissement inc. Has $7 Million Position in Hubbell Incorporated (NYSE:HUBB)

Financiere des Professionnels Fonds d investissement inc. lowered its position in shares of Hubbell Incorporated (NYSE:HUBB) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,701 shares of the industrial products company’s stock after selling 297 shares during the quarter. Financiere des Professionnels Fonds d investissement inc.’s holdings in Hubbell were worth $6,996,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Janney Montgomery Scott LLC boosted its holdings in shares of Hubbell by 122.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 28,723 shares of the industrial products company’s stock valued at $12,032,000 after buying an additional 15,806 shares during the period. Salem Investment Counselors Inc. boosted its holdings in shares of Hubbell by 26.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 9,144 shares of the industrial products company’s stock valued at $3,830,000 after buying an additional 1,886 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Hubbell by 7.1% in the third quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company’s stock valued at $98,187,000 after buying an additional 15,215 shares during the period. LGT Capital Partners LTD. bought a new stake in shares of Hubbell in the third quarter worth $39,687,000. Finally, Impax Asset Management Group plc lifted its position in shares of Hubbell by 30.3% in the third quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock worth $514,377,000 after purchasing an additional 279,654 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on HUBB. Sanford C. Bernstein began coverage on shares of Hubbell in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price objective on the stock. Morgan Stanley boosted their price objective on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Wells Fargo & Company cut their price objective on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Barclays upped their price target on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and dropped their price target for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $471.50.

Hubbell Price Performance

Shares of HUBB opened at $389.93 on Monday. The firm has a market capitalization of $20.93 billion, a PE ratio of 27.15, a PEG ratio of 1.36 and a beta of 0.92. The company’s 50-day moving average is $426.51 and its 200-day moving average is $423.65. Hubbell Incorporated has a fifty-two week low of $346.13 and a fifty-two week 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 1.05.

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 the consensus estimate of $4.02 by $0.08. The company 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%. The company’s revenue was down .9% on a year-over-year basis. During the same period in the prior year, the firm earned $3.69 earnings per share. Equities analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Dividend Announcement

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 given a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Friday, February 28th. Hubbell’s payout ratio is presently 36.77%.

Hubbell declared that its Board of Directors has authorized a stock buyback plan 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 shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its shares are 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.