Hubbell Incorporated (NYSE:HUBB) is Bancreek Capital Management LP’s 9th Largest Position

Bancreek Capital Management LP decreased its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 27.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,035 shares of the industrial products company’s stock after selling 4,969 shares during the quarter. Hubbell comprises about 5.3% of Bancreek Capital Management LP’s investment portfolio, making the stock its 9th largest position. Bancreek Capital Management LP’s holdings in Hubbell were worth $5,460,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Creative Financial Designs Inc. ADV raised its holdings in Hubbell by 85.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock valued at $27,000 after buying an additional 30 shares during the period. Stonebridge Financial Group LLC purchased a new stake in shares of Hubbell in the fourth quarter valued at $30,000. Prospera Private Wealth LLC purchased a new stake in shares of Hubbell in the third quarter valued at $33,000. Versant Capital Management Inc lifted its holdings in shares of Hubbell by 64.6% in the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 31 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in shares of Hubbell by 69.7% during the 4th quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 53 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 Hubbell 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 transaction, the insider now directly owns 4,327 shares of the company’s stock, valued at $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.78% of the company’s stock.

Analysts Set New Price Targets

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

Hubbell Trading Down 0.3 %

HUBB opened at $338.08 on Friday. 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 stock’s fifty day moving average is $388.41 and its two-hundred day moving average is $419.45. The company has a market capitalization of $18.14 billion, a P/E ratio of 23.54, a PEG ratio of 1.34 and a beta of 0.95. Hubbell Incorporated has a 52 week low of $330.32 and a 52 week high of $481.35.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 EPS for the quarter, beating the consensus estimate of $4.02 by $0.08. The firm 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 business’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the firm posted $3.69 earnings per share. Analysts forecast that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its shares are undervalued.

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a $1.32 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $5.28 annualized dividend and a dividend yield of 1.56%. Hubbell’s dividend payout ratio is currently 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.