Mizuho Securities USA LLC Grows Stake in Hubbell Incorporated (NYSE:HUBB)

Mizuho Securities USA LLC lifted its stake in Hubbell Incorporated (NYSE:HUBB) by 46.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,087 shares of the industrial products company’s stock after purchasing an additional 1,606 shares during the quarter. Mizuho Securities USA LLC’s holdings in Hubbell were worth $2,131,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Thrivent Financial for Lutherans lifted its position in Hubbell by 286.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 8,381 shares of the industrial products company’s stock valued at $3,590,000 after acquiring an additional 6,215 shares in the last quarter. Nwam LLC purchased a new position in shares of Hubbell in the third quarter worth $318,000. Cerity Partners LLC lifted its holdings in shares of Hubbell by 54.1% during the third quarter. Cerity Partners LLC now owns 9,326 shares of the industrial products company’s stock valued at $3,995,000 after purchasing an additional 3,273 shares in the last quarter. Kingsview Wealth Management LLC boosted its position in shares of Hubbell by 1.0% during the third quarter. Kingsview Wealth Management LLC now owns 3,288 shares of the industrial products company’s stock valued at $1,408,000 after buying an additional 31 shares during the last quarter. Finally, Swedbank AB increased its holdings in Hubbell by 5.1% in the 3rd quarter. Swedbank AB now owns 43,308 shares of the industrial products company’s stock worth $18,551,000 after buying an additional 2,100 shares in the last quarter. Institutional investors own 88.16% of the company’s stock.

Analyst Ratings Changes

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

Hubbell Price Performance

Shares of Hubbell stock opened at $349.55 on Tuesday. The stock’s fifty day moving average is $387.00 and its 200 day moving average is $419.90. Hubbell Incorporated has a one year low of $330.32 and a one year 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 stock has a market cap of $18.76 billion, a P/E ratio of 24.34, a P/E/G ratio of 1.34 and a beta of 0.94.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data 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 analysts’ expectations of $1.41 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The business’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the previous year, the firm earned $3.69 EPS. Sell-side analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date was Friday, February 28th. Hubbell’s dividend payout ratio (DPR) is 36.77%.

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

Insider Activity at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of the firm’s stock in a transaction 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 of the company’s stock, 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 legal filing with the SEC, which is accessible through this link. 0.66% of the stock is owned by corporate insiders.

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.