Portfolio Design Labs LLC Purchases Shares of 731 Hubbell Incorporated (NYSE:HUBB)

Portfolio Design Labs LLC acquired a new position in shares of Hubbell Incorporated (NYSE:HUBB) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 731 shares of the industrial products company’s stock, valued at approximately $306,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HUBB. Groupama Asset Managment lifted its holdings in shares of 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 position in shares of Hubbell during the 4th quarter worth about $30,000. Prospera Private Wealth LLC bought a new position in shares of Hubbell during the 3rd quarter worth about $33,000. Versant Capital Management Inc lifted its holdings in shares of 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 bought a new position in shares of Hubbell during the 3rd quarter worth about $41,000. 88.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on HUBB. Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. Barclays increased their target price on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. StockNews.com cut shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Mizuho increased their target price on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, Wells Fargo & Company dropped 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 report on Tuesday, January 7th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $471.50.

Hubbell Trading Down 1.5 %

HUBB opened at $391.07 on Thursday. The company has a current ratio of 1.64, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $20.99 billion, a PE ratio of 27.23, a PEG ratio of 1.36 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 firm has a 50-day moving average price of $430.98 and a two-hundred day moving average price of $423.43.

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 the consensus estimate of $4.02 by $0.08. The firm had revenue of $1.33 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company posted $3.69 EPS. As a group, equities analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

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 given a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Friday, February 28th. Hubbell’s payout ratio is presently 36.77%.

Hubbell declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Hubbell Company 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.