Ausdal Financial Partners Inc. Acquires New Holdings in Hubbell Incorporated (NYSE:HUBB)

Ausdal Financial Partners Inc. bought a new position in shares of Hubbell Incorporated (NYSE:HUBB) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,482 shares of the industrial products company’s stock, valued at approximately $621,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Creative Financial Designs Inc. ADV lifted its holdings in shares of Hubbell by 85.7% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 30 shares during the period. Groupama Asset Managment raised its position in Hubbell by 17.0% during the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 1,010 shares during the last quarter. Stonebridge Financial Group LLC acquired a new position in Hubbell during the 4th quarter worth about $30,000. Versant Capital Management Inc grew its position 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 valued at $33,000 after buying an additional 31 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its stake in shares of Hubbell by 69.7% in the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock valued at $54,000 after buying an additional 53 shares during the period. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,683,462.62. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Wells Fargo & Company cut their price objective 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. StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Barclays lowered their target price on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $462.13.

Hubbell Trading Down 1.3 %

HUBB opened at $342.04 on Friday. The company has a market cap of $18.36 billion, a P/E ratio of 23.82, a price-to-earnings-growth ratio of 1.34 and a beta of 0.94. The company has a fifty day moving average price of $382.09 and a two-hundred day moving average price of $418.74. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. Hubbell Incorporated has a 1-year low of $330.32 and a 1-year high of $481.35.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $4.02 by $0.08. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the business earned $3.69 EPS. Analysts predict that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell declared that its Board of Directors has initiated a stock buyback 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 typically an indication that the company’s leadership believes its shares are undervalued.

Hubbell Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were given a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend was Friday, February 28th. Hubbell’s payout ratio is currently 36.77%.

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.