Prudential PLC Buys 7,846 Shares of Hubbell Incorporated (NYSE:HUBB)

Prudential PLC boosted its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 45.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,082 shares of the industrial products company’s stock after purchasing an additional 7,846 shares during the period. Prudential PLC’s holdings in Hubbell were worth $10,507,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in HUBB. Creative Financial Designs Inc. ADV lifted its holdings in shares of Hubbell by 85.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock valued at $27,000 after buying an additional 30 shares during the period. Stonebridge Financial Group LLC purchased a new stake in Hubbell during the fourth quarter valued at $30,000. Versant Capital Management Inc lifted its holdings in Hubbell by 64.6% in the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 31 shares during the period. Venturi Wealth Management LLC boosted its position in Hubbell by 69.7% in the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 53 shares during the last quarter. Finally, Golden State Wealth Management LLC bought a new stake in shares of Hubbell during the 4th quarter valued at about $69,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Activity

In related news, insider Alyssa R. Flynn sold 1,164 shares of the firm’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total transaction of $452,865.84. Following the completion of the transaction, the insider now directly owns 4,327 shares of the company’s stock, valued at approximately $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

HUBB has been the topic of several recent research reports. Wells Fargo & Company lowered their price objective on shares of 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 dropped their price target on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. Finally, StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Hubbell currently has an average rating of “Hold” and an average target price of $462.13.

Hubbell Stock Down 1.8 %

HUBB opened at $315.69 on Friday. The stock has a market cap of $16.94 billion, a price-to-earnings ratio of 21.98, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. 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 firm’s fifty day moving average is $367.74 and its 200 day moving average is $416.03. Hubbell Incorporated has a fifty-two week low of $299.43 and a fifty-two week high of $481.35.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 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 the consensus estimate of $1.41 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The business’s revenue was down .9% on a year-over-year basis. During the same period in the previous year, the business earned $3.69 earnings per share. On average, sell-side analysts forecast that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell announced that its board has approved a share repurchase 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 stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.67%. The ex-dividend date was Friday, February 28th. Hubbell’s payout ratio is currently 36.77%.

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.