Waddell & Associates LLC Purchases 176 Shares of Hubbell Incorporated (NYSE:HUBB)

Waddell & Associates LLC lifted its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 23.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 916 shares of the industrial products company’s stock after acquiring an additional 176 shares during the period. Waddell & Associates LLC’s holdings in Hubbell were worth $384,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HUBB. Janus Henderson Group PLC increased its stake in shares of Hubbell by 11.1% during the 3rd quarter. Janus Henderson Group PLC now owns 7,007 shares of the industrial products company’s stock worth $3,001,000 after purchasing an additional 700 shares during the last quarter. Quantinno Capital Management LP boosted its position in shares of Hubbell by 12.3% in the third quarter. Quantinno Capital Management LP now owns 6,829 shares of the industrial products company’s stock valued at $2,926,000 after acquiring an additional 750 shares during the period. National Bank of Canada FI boosted its stake in shares of Hubbell by 47.8% in the third quarter. National Bank of Canada FI now owns 21,808 shares of the industrial products company’s stock valued at $9,341,000 after buying an additional 7,052 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in shares of Hubbell by 6.4% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 16,001 shares of the industrial products company’s stock valued at $6,854,000 after acquiring an additional 957 shares during the period. Finally, Groupama Asset Managment increased its holdings in Hubbell by 17.0% in the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock valued at $30,000 after buying an additional 1,010 shares during the period. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Stock Up 0.2 %

HUBB opened at $317.48 on Wednesday. Hubbell Incorporated has a twelve month low of $299.43 and a twelve month high of $481.35. 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 company’s 50-day moving average price is $361.86 and its two-hundred day moving average price is $413.91. The stock has a market cap of $17.04 billion, a price-to-earnings ratio of 22.11, a PEG ratio of 1.34 and a beta of 0.95.

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 analysts’ consensus estimates of $4.02 by $0.08. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations 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 period in the prior year, the company posted $3.69 EPS. As a group, equities analysts expect that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a $1.32 dividend. The ex-dividend date was Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a yield of 1.66%. Hubbell’s dividend payout ratio is currently 36.77%.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a report on Thursday, April 3rd. JPMorgan Chase & Co. decreased their price target on Hubbell from $430.00 to $352.00 and set a “neutral” rating for the company in a research note on Tuesday. Barclays reduced their target price on Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 26th. Finally, Wells Fargo & Company lowered their price objective on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $449.38.

Insider Activity at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell 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. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is currently owned by 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.