LGT Capital Partners LTD. Increases Position in Hubbell Incorporated (NYSE:HUBB)

LGT Capital Partners LTD. grew its stake in Hubbell Incorporated (NYSE:HUBB) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 93,470 shares of the industrial products company’s stock after buying an additional 820 shares during the period. Hubbell accounts for 1.5% of LGT Capital Partners LTD.’s investment portfolio, making the stock its 23rd largest holding. LGT Capital Partners LTD.’s holdings in Hubbell were worth $39,154,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Stonebridge Financial Group LLC acquired a new position in shares of Hubbell in the 4th quarter valued at $30,000. Prospera Private Wealth LLC acquired a new position in shares of Hubbell in the 3rd quarter valued at $33,000. Versant Capital Management Inc boosted its holdings in shares of Hubbell by 64.6% in the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after buying an additional 31 shares in the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Hubbell in the 3rd quarter valued at $41,000. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Hubbell by 69.7% in the 4th quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock valued at $54,000 after buying an additional 53 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Stock Up 2.5 %

Shares of NYSE:HUBB opened at $355.05 on Friday. The stock has a market cap of $19.05 billion, a P/E ratio of 24.73, a P/E/G ratio of 1.34 and a beta of 0.94. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. Hubbell Incorporated has a 1-year low of $337.97 and a 1-year high of $481.35. The firm has a fifty day moving average price of $406.11 and a 200 day moving average price of $423.15.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data 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. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. Hubbell’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.69 EPS. Sell-side analysts predict that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Announces Dividend

The company 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 dividend of $1.32 per share. 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 1.49%. Hubbell’s payout ratio is currently 36.77%.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Wells Fargo & Company lowered their target price 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. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Barclays decreased their price target 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. Finally, Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a “buy” rating to a “hold” rating and decreased their price target for the stock from $493.00 to $473.00 in a research note on Tuesday, November 26th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $464.88.

Insiders Place Their Bets

In other news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction dated 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 owns 4,327 shares in the company, valued at $1,683,462.62. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.66% of the stock is owned by insiders.

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.