Generali Asset Management SPA SGR Invests $2.97 Million in Hubbell Incorporated (NYSE:HUBB)

Generali Asset Management SPA SGR acquired a new position in Hubbell Incorporated (NYSE:HUBB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,090 shares of the industrial products company’s stock, valued at approximately $2,970,000.

A number of other institutional investors have also made changes to their positions in the business. Bank of New York Mellon Corp grew its stake in shares of Hubbell by 4.8% in the fourth quarter. Bank of New York Mellon Corp now owns 2,826,327 shares of the industrial products company’s stock valued at $1,183,920,000 after buying an additional 129,490 shares in the last quarter. State Street Corp grew its stake in shares of Hubbell by 1.1% in 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 buying an additional 22,507 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Hubbell by 6.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,417,476 shares of the industrial products company’s stock valued at $607,176,000 after buying an additional 82,258 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Hubbell by 0.7% in the third quarter. Geode Capital Management LLC now owns 1,254,905 shares of the industrial products company’s stock valued at $535,681,000 after buying an additional 8,278 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of Hubbell by 1.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 350,367 shares of the industrial products company’s stock valued at $146,765,000 after buying an additional 3,586 shares in the last quarter. Institutional investors own 88.16% of the company’s stock.

Hubbell Trading Up 1.8 %

HUBB opened at $342.52 on Thursday. The company’s 50 day moving average is $391.96 and its 200-day moving average is $420.44. The company has a market cap of $18.38 billion, a P/E ratio of 23.85, a PEG ratio of 1.34 and a beta of 0.95. Hubbell Incorporated has a 1-year low of $330.32 and a 1-year high of $481.35. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share 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 analysts’ expectations 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 quarter in the previous year, the firm posted $3.69 earnings per share. Equities research analysts predict 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 repurchase program 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 reacquire up to 2.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date was Friday, February 28th. Hubbell’s payout ratio is 36.77%.

Insider Activity

In other news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total value of $452,865.84. Following the completion of the transaction, the insider now directly owns 4,327 shares in the company, valued at approximately $1,683,462.62. This represents a 21.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.78% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HUBB. Barclays decreased their target price on shares of Hubbell from $475.00 to $422.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. Wells Fargo & Company dropped their price target on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Finally, Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and dropped their price target for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Hubbell currently has an average rating of “Hold” and an average target price of $464.88.

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.