HM Payson & Co. Raises Position in Hubbell Incorporated (NYSE:HUBB)

HM Payson & Co. lifted its holdings in Hubbell Incorporated (NYSE:HUBB) by 6.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 152,040 shares of the industrial products company’s stock after buying an additional 9,528 shares during the quarter. Hubbell makes up about 1.1% of HM Payson & Co.’s portfolio, making the stock its 27th biggest position. HM Payson & Co.’s holdings in Hubbell were worth $63,688,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Salem Investment Counselors Inc. raised its holdings in shares of Hubbell by 26.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 9,144 shares of the industrial products company’s stock worth $3,830,000 after buying an additional 1,886 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of Hubbell by 122.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 28,723 shares of the industrial products company’s stock worth $12,032,000 after buying an additional 15,806 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Hubbell by 7.1% in the third quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company’s stock worth $98,187,000 after buying an additional 15,215 shares during the period. LGT Capital Partners LTD. purchased a new stake in shares of Hubbell in the third quarter worth approximately $39,687,000. Finally, Impax Asset Management Group plc raised its holdings 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 worth $514,377,000 after buying an additional 279,654 shares during the period. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Hubbell Stock Up 2.5 %

Shares of NYSE HUBB opened at $355.05 on Friday. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $19.05 billion, a PE ratio of 24.73, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. The stock’s fifty day simple moving average is $406.11 and its two-hundred day simple moving average is $422.79. Hubbell Incorporated has a 12-month low of $337.97 and a 12-month high of $481.35.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.08. The business 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 revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the firm earned $3.69 EPS. As a group, analysts expect that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a dividend of $1.32 per share. The ex-dividend date is Friday, February 28th. This represents a $5.28 annualized dividend and a yield of 1.49%. Hubbell’s dividend payout ratio (DPR) is presently 36.77%.

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

Analyst Ratings Changes

HUBB has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and reduced their price target for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. Wells Fargo & Company dropped their price objective 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, Barclays dropped their price objective 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. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $464.88.

Insider Buying and Selling at Hubbell

In other 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 owns 4,327 shares of the company’s stock, valued at $1,683,462.62. This trade represents a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.66% of the company’s stock.

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.