Harvest Fund Management Co. Ltd Acquires 274 Shares of Hubbell Incorporated (NYSE:HUBB)

Harvest Fund Management Co. Ltd lifted its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 27,400.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 275 shares of the industrial products company’s stock after purchasing an additional 274 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Hubbell were worth $115,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV increased its stake in Hubbell by 85.7% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 30 shares during the last quarter. Groupama Asset Managment increased its stake 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 acquiring an additional 1,010 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in Hubbell in the fourth quarter valued at approximately $30,000. Prospera Private Wealth LLC bought a new position in Hubbell in the third quarter valued at approximately $33,000. Finally, Versant Capital Management Inc increased its stake 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 acquiring an additional 31 shares during the last quarter. 88.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on HUBB shares. Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a “buy” rating to a “hold” rating and decreased their price objective for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Barclays decreased their target price 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. Finally, Wells Fargo & Company decreased 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 note on Tuesday, January 7th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Hubbell has an average rating of “Hold” and a consensus price target of $464.88.

Hubbell Price Performance

Shares of NYSE:HUBB opened at $338.08 on Friday. The firm has a market cap of $18.14 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. The firm’s fifty day moving average is $388.41 and its 200-day moving average is $419.73. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. Hubbell Incorporated has a 52 week low of $330.32 and a 52 week high of $481.35.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 EPS for the quarter, topping 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 net margin of 13.82% and a return on equity of 28.62%. Hubbell’s revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.69 earnings per share. Sell-side analysts predict that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors 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 yield of 1.56%. Hubbell’s payout ratio is 36.77%.

Hubbell declared that its board has initiated a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the industrial products company to buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total value of $452,865.84. Following the transaction, the insider now owns 4,327 shares in the company, valued at $1,683,462.62. The trade was a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.78% of the stock is owned by company insiders.

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.