ExodusPoint Capital Management LP Takes $5.02 Million Position in Hubbell Incorporated (NYSE:HUBB)

ExodusPoint Capital Management LP acquired a new position in shares of Hubbell Incorporated (NYSE:HUBB) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 11,978 shares of the industrial products company’s stock, valued at approximately $5,017,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Hubbell by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 6,634,705 shares of the industrial products company’s stock valued at $2,779,212,000 after purchasing an additional 65,033 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Hubbell by 4.8% during the fourth quarter. Bank of New York Mellon Corp now owns 2,826,327 shares of the industrial products company’s stock worth $1,183,920,000 after buying an additional 129,490 shares during the period. State Street Corp increased its position in Hubbell by 1.1% during the third quarter. State Street Corp now owns 2,092,215 shares of the industrial products company’s stock valued at $896,200,000 after acquiring an additional 22,507 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Hubbell by 6.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,510,430 shares of the industrial products company’s stock valued at $632,704,000 after acquiring an additional 92,954 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Hubbell by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 1,284,506 shares of the industrial products company’s stock worth $536,641,000 after acquiring an additional 29,601 shares during the last quarter. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Hubbell Trading Down 1.8 %

Shares of NYSE HUBB opened at $315.69 on Friday. Hubbell Incorporated has a twelve month low of $299.43 and a twelve month high of $481.35. The firm has a market cap of $16.94 billion, a PE ratio of 21.98, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. The business has a fifty day simple moving average of $367.74 and a two-hundred day simple moving average of $416.07. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, beating 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 firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the company posted $3.69 earnings per share. The firm’s quarterly revenue was down .9% on a year-over-year basis. Analysts expect that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the industrial products company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Hubbell Announces Dividend

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

Insider Buying and Selling

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $389.06, for a total value of $452,865.84. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages recently commented on HUBB. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a report on Thursday. Barclays reduced their price target on Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 26th. Finally, Wells Fargo & Company dropped their price objective on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $462.13.

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.