TCW Group Inc. Invests $6.96 Million in Hubbell Incorporated (NYSE:HUBB)

TCW Group Inc. purchased a new stake in Hubbell Incorporated (NYSE:HUBB) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 16,621 shares of the industrial products company’s stock, valued at approximately $6,962,000.

Other institutional investors have also added to or reduced their stakes in the company. Creative Planning boosted its position in shares of Hubbell by 19.3% in the third quarter. Creative Planning now owns 4,144 shares of the industrial products company’s stock valued at $1,775,000 after acquiring an additional 671 shares during the period. Signaturefd LLC raised its stake in Hubbell by 20.3% in the 3rd quarter. Signaturefd LLC now owns 278 shares of the industrial products company’s stock worth $119,000 after purchasing an additional 47 shares in the last quarter. Private Advisor Group LLC raised its stake in Hubbell by 10.8% in the 3rd quarter. Private Advisor Group LLC now owns 5,196 shares of the industrial products company’s stock worth $2,226,000 after purchasing an additional 508 shares in the last quarter. Greenleaf Trust boosted its holdings in Hubbell by 10.4% in the 3rd quarter. Greenleaf Trust now owns 761 shares of the industrial products company’s stock valued at $326,000 after purchasing an additional 72 shares during the period. Finally, Ballentine Partners LLC grew its position in shares of Hubbell by 3.2% during the 3rd quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company’s stock worth $410,000 after purchasing an additional 30 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company dropped their price target on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Morgan Stanley increased their target price on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and decreased their price target for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. Finally, Sanford C. Bernstein started coverage on shares of Hubbell in a research report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price objective for the company. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Hubbell currently has a consensus rating of “Hold” and an average target price of $471.50.

Hubbell Trading Down 3.3 %

Shares of Hubbell stock opened at $376.74 on Monday. The firm’s 50 day moving average is $420.03 and its 200 day moving average is $424.45. The firm has a market capitalization of $20.22 billion, a PE ratio of 26.24, a price-to-earnings-growth ratio of 1.34 and a beta of 0.92. Hubbell Incorporated has a 1 year low of $346.13 and a 1 year high of $481.35. 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 issued its earnings results 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 firm 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 quarterly revenue was down .9% on a year-over-year basis. During the same quarter last year, the business posted $3.69 earnings per share. Equities research analysts forecast that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

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 issued a $1.32 dividend. The ex-dividend date is Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a yield of 1.40%. Hubbell’s payout ratio is presently 36.77%.

Hubbell announced that its Board of Directors has approved a share buyback plan on Wednesday, February 12th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the industrial products company to repurchase up to 2.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management 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.