71 Shares in Hubbell Incorporated (NYSE:HUBB) Purchased by Stonebridge Financial Group LLC

Stonebridge Financial Group LLC acquired a new stake in Hubbell Incorporated (NYSE:HUBB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 71 shares of the industrial products company’s stock, valued at approximately $30,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Groupama Asset Managment raised its stake in Hubbell by 17.0% in the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 1,010 shares during the period. Prospera Private Wealth LLC bought a new position in shares of Hubbell in the third quarter valued at about $33,000. Versant Capital Management Inc lifted its stake in shares of Hubbell by 64.6% during the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after buying an additional 31 shares during the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Hubbell during the 3rd quarter worth about $41,000. Finally, Northwest Investment Counselors LLC acquired a new position in Hubbell in the 3rd quarter valued at about $58,000. Institutional investors own 88.16% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Sanford C. Bernstein assumed coverage on shares of Hubbell in a research report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price objective for the company. Barclays upped their price objective on Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Morgan Stanley lifted their target price on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Wells Fargo & Company decreased their price target 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. Finally, StockNews.com cut shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $471.50.

Hubbell Price Performance

HUBB stock opened at $389.93 on Friday. The company’s 50-day moving average price is $427.95 and its two-hundred day moving average price is $423.00. Hubbell Incorporated has a 12 month low of $346.13 and a 12 month high of $481.35. The company has a quick ratio of 1.05, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. The firm has a market cap of $20.93 billion, a P/E ratio of 27.15, a P/E/G ratio of 1.36 and a beta of 0.92.

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 during the quarter, compared to the consensus estimate of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The company’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, analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date of this dividend is Friday, February 28th. Hubbell’s dividend payout ratio is presently 36.77%.

Hubbell announced that its Board of Directors has initiated a stock repurchase 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 shares through open market purchases. Shares buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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.