Postrock Partners LLC Takes $236,000 Position in Hubbell Incorporated (NYSE:HUBB)

Postrock Partners LLC purchased a new position in shares of Hubbell Incorporated (NYSE:HUBB) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 564 shares of the industrial products company’s stock, valued at approximately $236,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Erste Asset Management GmbH boosted its stake in Hubbell by 50.6% in the fourth quarter. Erste Asset Management GmbH now owns 19,205 shares of the industrial products company’s stock valued at $8,107,000 after acquiring an additional 6,455 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position in Hubbell by 6.1% during the fourth quarter. Sequoia Financial Advisors LLC now owns 6,246 shares of the industrial products company’s stock valued at $2,616,000 after buying an additional 357 shares during the period. PFG Advisors boosted its stake in shares of Hubbell by 3.3% during the fourth quarter. PFG Advisors now owns 7,104 shares of the industrial products company’s stock valued at $2,976,000 after purchasing an additional 230 shares during the period. HighTower Advisors LLC grew its holdings in Hubbell by 7.0% in the 4th quarter. HighTower Advisors LLC now owns 29,235 shares of the industrial products company’s stock worth $12,246,000 after acquiring an additional 1,910 shares during the last quarter. Finally, SPX Gestao de Recursos Ltda lifted its holdings in Hubbell by 30.0% in the 4th quarter. SPX Gestao de Recursos Ltda now owns 30,310 shares of the industrial products company’s stock worth $12,697,000 after buying an additional 7,000 shares during the period. Institutional investors own 88.16% of the company’s stock.

Insider Transactions at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total transaction of $452,865.84. Following the completion of the sale, the insider now directly owns 4,327 shares in the company, valued at approximately $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Hubbell Stock Performance

Shares of HUBB stock opened at $331.53 on Friday. Hubbell Incorporated has a 12 month low of $330.32 and a 12 month high of $481.35. The company has a market cap of $17.79 billion, a P/E ratio of 23.09, a PEG ratio of 1.34 and a beta of 0.94. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The firm has a fifty day moving average price of $399.47 and a 200 day moving average price of $421.64.

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. 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%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.69 EPS. Sell-side analysts predict that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell declared that its board has approved a share 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 buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.59%. Hubbell’s payout ratio is currently 36.77%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on HUBB. Wells Fargo & Company cut their target price 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. Barclays dropped their price target on shares of Hubbell from $475.00 to $422.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a “buy” rating to a “hold” rating and lowered their price target for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Finally, StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Five 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, the company presently has a consensus rating of “Hold” and a consensus price target of $464.88.

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.