RWC Asset Management LLP Makes New Investment in Hubbell Incorporated (NYSE:HUBB)

RWC Asset Management LLP purchased a new stake in shares of Hubbell Incorporated (NYSE:HUBB) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 53,414 shares of the industrial products company’s stock, valued at approximately $22,375,000. RWC Asset Management LLP owned about 0.10% of Hubbell at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Mizuho Securities USA LLC raised its holdings in Hubbell by 192,421.1% during the third quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock valued at $3,418,233,000 after buying an additional 7,975,855 shares in the last quarter. Impax Asset Management Group plc increased its holdings in shares of Hubbell by 30.3% during the 3rd quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock valued at $514,377,000 after acquiring an additional 279,654 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Hubbell by 268.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 231,130 shares of the industrial products company’s stock valued at $99,005,000 after acquiring an additional 168,380 shares during the last quarter. LGT Capital Partners LTD. bought a new position in shares of Hubbell in the 3rd quarter valued at approximately $39,687,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Hubbell by 6.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,417,476 shares of the industrial products company’s stock worth $607,176,000 after purchasing an additional 82,258 shares during the last quarter. Institutional investors own 88.16% of the company’s stock.

Hubbell Stock Down 3.3 %

HUBB stock opened at $376.74 on Monday. The business’s 50-day simple moving average is $420.03 and its 200 day simple moving average is $424.45. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. The company has a market cap of $20.22 billion, a PE ratio of 26.24, a price-to-earnings-growth ratio of 1.34 and a beta of 0.92. Hubbell Incorporated has a twelve month low of $346.13 and a twelve month high of $481.35.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, topping the consensus estimate of $4.02 by $0.08. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.41 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. Hubbell’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.69 EPS. On average, research analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell announced that its board has authorized a share buyback plan on Wednesday, February 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Hubbell Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date is Friday, February 28th. Hubbell’s dividend payout ratio is 36.77%.

Analysts Set New Price Targets

HUBB has been the topic of a number of recent analyst reports. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a “buy” rating to a “hold” rating and dropped their target price for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. Wells Fargo & Company decreased their price target on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Sanford C. Bernstein initiated coverage on Hubbell in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price objective on the stock. Finally, Morgan Stanley boosted their price objective on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Hubbell presently has a consensus rating of “Hold” and an average target price of $471.50.

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.