National Bank of Canada FI Increases Stock Position in Hubbell Incorporated (NYSE:HUBB)

National Bank of Canada FI lifted its holdings in Hubbell Incorporated (NYSE:HUBB) by 15.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 25,133 shares of the industrial products company’s stock after acquiring an additional 3,325 shares during the quarter. National Bank of Canada FI’s holdings in Hubbell were worth $10,528,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Public Sector Pension Investment Board grew its holdings in Hubbell by 14.6% in the third quarter. Public Sector Pension Investment Board now owns 2,348 shares of the industrial products company’s stock worth $1,006,000 after purchasing an additional 300 shares during the period. Benjamin Edwards Inc. purchased a new stake in shares of Hubbell in the 3rd quarter worth approximately $426,000. Janus Henderson Group PLC increased its position in Hubbell by 11.1% during the 3rd quarter. Janus Henderson Group PLC now owns 7,007 shares of the industrial products company’s stock valued at $3,001,000 after buying an additional 700 shares in the last quarter. Investment Management Corp of Ontario raised its stake in Hubbell by 50.7% during the third quarter. Investment Management Corp of Ontario now owns 1,784 shares of the industrial products company’s stock valued at $764,000 after buying an additional 600 shares during the last quarter. Finally, Integrated Wealth Concepts LLC boosted its holdings in Hubbell by 165.7% in the third quarter. Integrated Wealth Concepts LLC now owns 3,175 shares of the industrial products company’s stock worth $1,360,000 after acquiring an additional 1,980 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

HUBB has been the subject of several analyst reports. Wells Fargo & Company reduced their price target on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Barclays decreased their target price on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. Finally, StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a report on Thursday. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, Hubbell has an average rating of “Hold” and a consensus price target of $462.13.

Hubbell Stock Down 1.8 %

Shares of Hubbell stock opened at $315.69 on Friday. 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 Incorporated has a twelve month low of $299.43 and a twelve month high of $481.35. The company 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’s 50 day moving average is $367.74 and its 200 day moving average is $416.07.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.02 by $0.08. The firm 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 company’s revenue for the quarter was down .9% on a year-over-year basis. During the same period last year, the business posted $3.69 EPS. Research analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell announced that its board has approved a stock repurchase program on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Hubbell Dividend Announcement

The firm also recently declared 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 of this dividend was Friday, February 28th. Hubbell’s payout ratio is currently 36.77%.

Insider Buying and Selling

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 4,327 shares in the company, 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 Securities & Exchange Commission, which is accessible through this hyperlink. 0.66% of the stock is currently owned by insiders.

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.