Nations Financial Group Inc. IA ADV Acquires 168 Shares of Hubbell Incorporated (NYSE:HUBB)

Nations Financial Group Inc. IA ADV boosted its holdings in Hubbell Incorporated (NYSE:HUBB) by 3.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 5,652 shares of the industrial products company’s stock after purchasing an additional 168 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Hubbell were worth $2,368,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in HUBB. Groupama Asset Managment boosted its position in Hubbell by 17.0% in the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock valued at $30,000 after buying an additional 1,010 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in Hubbell in the fourth quarter valued at about $30,000. Prospera Private Wealth LLC acquired a new position in Hubbell in the third quarter valued at about $33,000. Versant Capital Management Inc boosted its position in Hubbell by 64.6% in the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after buying an additional 31 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in Hubbell in the third quarter valued at about $41,000. Institutional investors own 88.16% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company reduced their target price on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Morgan Stanley upped their target price on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Barclays upped their target price on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and cut their price objective for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Finally, StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $471.50.

Hubbell Stock Down 0.8 %

Shares of NYSE:HUBB opened at $389.93 on Friday. Hubbell Incorporated has a 52 week low of $346.13 and a 52 week high of $481.35. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.64. The company has a market capitalization of $20.93 billion, a PE ratio of 27.15, a PEG ratio of 1.36 and a beta of 0.92. The company has a 50 day moving average price of $426.51 and a two-hundred day moving average price of $423.46.

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

Hubbell declared that its Board of Directors has approved a stock buyback program on Wednesday, February 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the industrial products company to reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Hubbell Announces Dividend

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

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.