1,699 Shares in Hubbell Incorporated (NYSE:HUBB) Acquired by Ninepoint Partners LP

Ninepoint Partners LP acquired a new stake in Hubbell Incorporated (NYSE:HUBB) in the fourth quarter, Holdings Channel reports. The fund acquired 1,699 shares of the industrial products company’s stock, valued at approximately $712,000.

A number of other hedge funds have also recently added to or reduced their stakes in HUBB. Atria Investments Inc grew its stake in Hubbell by 2.2% in the third quarter. Atria Investments Inc now owns 2,689 shares of the industrial products company’s stock valued at $1,152,000 after acquiring an additional 59 shares during the period. Oppenheimer Asset Management Inc. boosted its position in shares of Hubbell by 37.0% during the third quarter. Oppenheimer Asset Management Inc. now owns 1,321 shares of the industrial products company’s stock valued at $566,000 after buying an additional 357 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in Hubbell in the third quarter worth $255,000. Huntington National Bank boosted its position in Hubbell by 11.4% in the third quarter. Huntington National Bank now owns 860 shares of the industrial products company’s stock worth $368,000 after purchasing an additional 88 shares during the last quarter. Finally, Metis Global Partners LLC boosted its position in Hubbell by 52.7% in the third quarter. Metis Global Partners LLC now owns 2,578 shares of the industrial products company’s stock worth $1,104,000 after purchasing an additional 890 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on HUBB shares. Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and dropped their price target for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. Wells Fargo & Company decreased their target price 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. Barclays reduced their price objective on Hubbell from $475.00 to $422.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. Finally, StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $464.88.

Hubbell Stock Up 2.9 %

Hubbell stock opened at $341.52 on Friday. The firm has a market cap of $18.33 billion, a price-to-earnings ratio of 23.78, a PEG ratio of 1.34 and a beta of 0.94. The stock has a fifty day simple moving average of $397.69 and a two-hundred day simple moving average of $421.57. Hubbell Incorporated has a 12 month low of $330.32 and a 12 month high of $481.35. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 EPS for the quarter, topping the consensus estimate of $4.02 by $0.08. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The company 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 company posted $3.69 earnings per share. Hubbell’s revenue was down .9% compared to the same quarter last year. Equities analysts predict 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. Investors 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 1.55%. Hubbell’s dividend payout ratio (DPR) is presently 36.77%.

Hubbell declared that its board has authorized a stock buyback plan on Wednesday, February 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to repurchase up to 2.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Insider Activity at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total transaction of $452,865.84. Following the transaction, the insider now directly owns 4,327 shares in the company, valued at approximately $1,683,462.62. The trade was a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.66% of the stock is owned by company 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.