Avestar Capital LLC Buys 200 Shares of Hubbell Incorporated (NYSE:HUBB)

Avestar Capital LLC increased its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 34.7% in the 4th quarter, HoldingsChannel reports. The firm owned 777 shares of the industrial products company’s stock after acquiring an additional 200 shares during the period. Avestar Capital LLC’s holdings in Hubbell were worth $325,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Stonebridge Financial Group LLC acquired a new stake in Hubbell during the fourth quarter worth approximately $30,000. Prospera Private Wealth LLC acquired a new stake in Hubbell in the third quarter valued at approximately $33,000. Versant Capital Management Inc grew its stake in Hubbell by 64.6% in the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 31 shares during the period. Ashton Thomas Securities LLC acquired a new stake in Hubbell in the third quarter valued at approximately $41,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Hubbell in the third quarter valued at approximately $58,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Analyst Upgrades and Downgrades

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

Hubbell Stock Performance

Shares of Hubbell stock opened at $389.93 on Friday. The business’s fifty day simple moving average is $427.95 and its 200 day simple moving average is $423.00. The firm has a market capitalization of $20.93 billion, a P/E ratio of 27.15, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92. Hubbell Incorporated has a 12 month low of $346.13 and a 12 month high of $481.35. The company has a current ratio of 1.64, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results 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. The business had revenue of $1.33 billion for 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%. Hubbell’s quarterly revenue was down .9% compared to the same quarter last year. During the same period last year, the company posted $3.69 earnings per share. As a group, analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be paid a $1.32 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $5.28 annualized dividend and a dividend yield of 1.35%. Hubbell’s payout ratio is presently 36.77%.

Hubbell announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the industrial products company to purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.

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.