Amundi Purchases 10,316 Shares of Hubbell Incorporated (NYSE:HUBB)

Amundi boosted its position in shares of Hubbell Incorporated (NYSE:HUBB) by 4.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 253,323 shares of the industrial products company’s stock after acquiring an additional 10,316 shares during the quarter. Amundi’s holdings in Hubbell were worth $108,766,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Groupama Asset Managment raised its stake in Hubbell by 17.0% during the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 1,010 shares during the period. Stonebridge Financial Group LLC bought a new stake in Hubbell during the 4th quarter worth approximately $30,000. Prospera Private Wealth LLC bought a new stake in Hubbell during the 3rd quarter worth approximately $33,000. Versant Capital Management Inc raised its stake in Hubbell by 64.6% during the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 31 shares during the period. Finally, Ashton Thomas Securities LLC purchased a new stake in Hubbell during the 3rd quarter valued at approximately $41,000. Institutional investors own 88.16% of the company’s stock.

Insider Buying and Selling

In related news, insider Alyssa R. Flynn sold 1,164 shares of the firm’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 completion of the sale, the insider now directly owns 4,327 shares in the company, valued at $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.66% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on HUBB shares. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Wells Fargo & Company cut their price objective on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Barclays cut their price objective on shares of Hubbell from $475.00 to $422.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and cut their price objective for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $464.88.

Hubbell Trading Down 4.6 %

HUBB stock opened at $338.07 on Tuesday. The firm has a fifty day moving average price of $404.49 and a 200 day moving average price of $423.20. Hubbell Incorporated has a fifty-two week low of $337.21 and a fifty-two week high of $481.35. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. The firm has a market cap of $18.14 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 1.34 and a beta of 0.94.

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

Hubbell announced that its board has authorized a stock repurchase program 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 programs are usually an indication that the company’s management believes its shares are undervalued.

Hubbell Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be given a $1.32 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a yield of 1.56%. Hubbell’s dividend payout ratio is presently 36.77%.

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.