Wealth Management Nebraska Takes $252,000 Position in Hubbell Incorporated (NYSE:HUBB)

Wealth Management Nebraska acquired a new position in Hubbell Incorporated (NYSE:HUBB) in the fourth quarter, Holdings Channel reports. The fund acquired 602 shares of the industrial products company’s stock, valued at approximately $252,000.

A number of other hedge funds also recently bought and sold shares of HUBB. Suncoast Equity Management raised its position in shares of Hubbell by 8.7% in the 4th quarter. Suncoast Equity Management now owns 2,676 shares of the industrial products company’s stock worth $1,121,000 after acquiring an additional 215 shares in the last quarter. ING Groep NV raised its holdings in Hubbell by 32.4% in the fourth quarter. ING Groep NV now owns 6,855 shares of the industrial products company’s stock worth $2,871,000 after purchasing an additional 1,676 shares in the last quarter. Handelsbanken Fonder AB lifted its position in shares of Hubbell by 41.2% during the fourth quarter. Handelsbanken Fonder AB now owns 53,858 shares of the industrial products company’s stock valued at $22,561,000 after buying an additional 15,719 shares during the last quarter. Atria Wealth Solutions Inc. boosted its holdings in shares of Hubbell by 4.7% in the 4th quarter. Atria Wealth Solutions Inc. now owns 1,838 shares of the industrial products company’s stock valued at $770,000 after buying an additional 82 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its position in shares of Hubbell by 69.7% in the 4th quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock worth $54,000 after buying an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on HUBB shares. Wells Fargo & Company reduced their price objective on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Morgan Stanley upped their price target on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Barclays raised their price objective on 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 Hubbell from a “buy” rating to a “hold” rating and reduced their target price for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. Finally, StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $471.50.

Hubbell Price Performance

NYSE HUBB opened at $376.74 on Friday. The company has a market cap of $20.22 billion, a price-to-earnings ratio of 26.24, a PEG ratio of 1.35 and a beta of 0.92. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. The stock’s fifty day moving average price is $421.57 and its 200 day moving average price is $423.47. Hubbell Incorporated has a 1 year low of $346.13 and a 1 year 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, beating analysts’ consensus estimates of $4.02 by $0.08. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the prior year, the company earned $3.69 earnings per share. The company’s revenue was down .9% on a year-over-year basis. As a group, equities research analysts forecast that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.40%. 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 has approved a stock repurchase 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 purchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

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.