Hubbell Incorporated (NYSE:HUBB) Stock Position Raised by BHK Investment Advisors LLC

BHK Investment Advisors LLC boosted its holdings in Hubbell Incorporated (NYSE:HUBB) by 2.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,351 shares of the industrial products company’s stock after acquiring an additional 30 shares during the period. BHK Investment Advisors LLC’s holdings in Hubbell were worth $566,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of HUBB. Janney Montgomery Scott LLC lifted its holdings in shares of Hubbell by 122.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 28,723 shares of the industrial products company’s stock worth $12,032,000 after purchasing an additional 15,806 shares during the last quarter. Salem Investment Counselors Inc. increased its position in Hubbell by 26.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 9,144 shares of the industrial products company’s stock worth $3,830,000 after buying an additional 1,886 shares during the period. Principal Financial Group Inc. lifted its stake in 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 last quarter. LGT Capital Partners LTD. acquired a new position in shares of Hubbell during the third quarter valued at $39,687,000. Finally, Impax Asset Management Group plc grew its position in shares of Hubbell by 30.3% during 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 acquiring an additional 279,654 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total value of $452,865.84. Following the transaction, the insider now owns 4,327 shares of the company’s stock, valued at approximately $1,683,462.62. This represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on HUBB. Sanford C. Bernstein initiated 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. Wells Fargo & Company cut their price target on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. Barclays raised their target price on Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Finally, StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $471.50.

Hubbell Price Performance

Shares of NYSE:HUBB opened at $368.20 on Tuesday. The stock has a market cap of $19.76 billion, a price-to-earnings ratio of 25.64, a PEG ratio of 1.34 and a beta of 0.92. 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 Incorporated has a 12 month low of $346.13 and a 12 month high of $481.35. The stock’s 50 day moving average price is $418.28 and its 200 day moving average price is $424.41.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $4.02 by $0.08. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the previous year, the business earned $3.69 EPS. The company’s quarterly revenue was down .9% compared to the same quarter last year. Equities research analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell announced that its Board of Directors has initiated a share repurchase 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 repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Hubbell Announces Dividend

The firm 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 dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $5.28 annualized dividend and a dividend yield of 1.43%. Hubbell’s dividend payout ratio (DPR) is 36.77%.

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.