Hubbell Incorporated (NYSE:HUBB) is Bancreek Capital Management LP’s 9th Largest Position

Bancreek Capital Management LP cut its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 27.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,035 shares of the industrial products company’s stock after selling 4,969 shares during the quarter. Hubbell comprises approximately 5.3% of Bancreek Capital Management LP’s portfolio, making the stock its 9th biggest position. Bancreek Capital Management LP’s holdings in Hubbell were worth $5,460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently modified their holdings of the company. Mindset Wealth Management LLC boosted its position in shares of Hubbell by 1.7% during the fourth quarter. Mindset Wealth Management LLC now owns 1,655 shares of the industrial products company’s stock valued at $693,000 after buying an additional 27 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Hubbell in the fourth quarter worth approximately $210,000. Algebris UK Ltd purchased a new position in shares of Hubbell during the fourth quarter valued at approximately $1,066,000. Harvest Fund Management Co. Ltd lifted its position in Hubbell by 27,400.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 275 shares of the industrial products company’s stock valued at $115,000 after purchasing an additional 274 shares during the period. Finally, North Forty Two & Co. bought a new position in Hubbell during the fourth quarter valued at approximately $244,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Trading Down 0.3 %

Shares of Hubbell stock opened at $338.08 on Friday. Hubbell Incorporated has a fifty-two week low of $330.32 and a fifty-two week 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 company has a market capitalization of $18.14 billion, a P/E ratio of 23.54, a P/E/G ratio of 1.34 and a beta of 0.95. The company has a fifty day moving average of $388.41 and a 200 day moving average of $419.45.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, topping 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 return on equity of 28.62% and a net margin of 13.82%. The firm’s revenue was down .9% on a year-over-year basis. During the same quarter last year, the business posted $3.69 earnings per share. On average, sell-side analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend was Friday, February 28th. Hubbell’s dividend payout ratio (DPR) is presently 36.77%.

Hubbell announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 12th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the industrial products company to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on HUBB shares. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and decreased their target price for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Wells Fargo & Company lowered their target price on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Finally, Barclays lowered their price objective 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. Five research 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 stock has a consensus rating of “Hold” and a consensus target price of $464.88.

Insider Buying and Selling

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total value of $452,865.84. Following the sale, the insider now owns 4,327 shares in the company, valued at $1,683,462.62. The trade was a 21.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.78% of the stock is owned by company 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.