151,942 Shares in Hubbell Incorporated (NYSE:HUBB) Bought by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new position in Hubbell Incorporated (NYSE:HUBB) during the fourth quarter, Holdings Channel reports. The firm acquired 151,942 shares of the industrial products company’s stock, valued at approximately $63,647,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB increased its stake in Hubbell by 12.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company’s stock valued at $96,000 after acquiring an additional 25 shares during the last quarter. JGP Wealth Management LLC increased its stake in Hubbell by 1.2% in the fourth quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company’s stock valued at $884,000 after acquiring an additional 26 shares during the last quarter. Sanctuary Advisors LLC increased its stake in Hubbell by 0.5% in the fourth quarter. Sanctuary Advisors LLC now owns 5,422 shares of the industrial products company’s stock valued at $2,313,000 after acquiring an additional 27 shares during the last quarter. Avestar Capital LLC increased its stake in Hubbell by 5.1% in the third quarter. Avestar Capital LLC now owns 577 shares of the industrial products company’s stock valued at $247,000 after acquiring an additional 28 shares during the last quarter. Finally, BHK Investment Advisors LLC increased its stake in Hubbell by 2.3% in the fourth quarter. BHK Investment Advisors LLC now owns 1,351 shares of the industrial products company’s stock valued at $566,000 after acquiring an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insiders Place Their Bets

In other news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell 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 transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.66% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on HUBB shares. Barclays reduced their target price on Hubbell from $475.00 to $422.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. Wells Fargo & Company reduced their target price on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Finally, 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. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Hubbell currently has an average rating of “Hold” and an average price target of $464.88.

Hubbell Stock Down 4.6 %

NYSE HUBB opened at $338.07 on Tuesday. 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 1 year low of $337.21 and a 1 year high of $481.35. The business’s 50-day moving average is $404.49 and its 200 day moving average is $423.20. The stock has a market capitalization of $18.14 billion, a PE ratio of 23.54, a PEG ratio of 1.34 and a beta of 0.94.

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

Hubbell declared that its board has initiated a stock buyback plan 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 plans are typically a sign that the company’s board believes its shares are undervalued.

Hubbell Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 1.56%. Hubbell’s dividend payout ratio (DPR) is presently 36.77%.

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.