SPX Gestao de Recursos Ltda Acquires 7,000 Shares of Hubbell Incorporated (NYSE:HUBB)

SPX Gestao de Recursos Ltda boosted its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 30.0% in the fourth quarter, Holdings Channel reports. The firm owned 30,310 shares of the industrial products company’s stock after purchasing an additional 7,000 shares during the quarter. Hubbell comprises about 1.9% of SPX Gestao de Recursos Ltda’s portfolio, making the stock its 18th biggest holding. SPX Gestao de Recursos Ltda’s holdings in Hubbell were worth $12,697,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. lifted its stake in Hubbell by 26.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 9,144 shares of the industrial products company’s stock worth $3,830,000 after purchasing an additional 1,886 shares during the period. Janney Montgomery Scott LLC lifted its stake in Hubbell by 122.4% during the fourth 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 period. Principal Financial Group Inc. lifted its stake in Hubbell by 7.1% during the third quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company’s stock worth $98,187,000 after purchasing an additional 15,215 shares during the period. LGT Capital Partners LTD. bought a new position in shares of Hubbell in the third quarter valued at approximately $39,687,000. Finally, Impax Asset Management Group plc raised its stake in shares of Hubbell by 30.3% in the third quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock valued at $514,377,000 after acquiring an additional 279,654 shares during the last quarter. Institutional investors own 88.16% of the company’s stock.

Hubbell Stock Performance

HUBB stock 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. The company has a 50 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 stock has a market capitalization 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 released its 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. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the previous year, the business earned $3.69 EPS. The business’s quarterly revenue was down .9% compared to the same quarter last year. Analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 12th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the industrial products company to repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Friday, February 28th. Hubbell’s dividend payout ratio (DPR) is 36.77%.

Insider Activity

In related news, insider Alyssa R. Flynn sold 1,164 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total value of $452,865.84. Following the completion of the transaction, the insider now directly owns 4,327 shares of the company’s stock, valued at approximately $1,683,462.62. This represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.66% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.