Engine NO. 1 LLC Has $8.28 Million Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Engine NO. 1 LLC increased its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 27.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,763 shares of the industrial products company’s stock after acquiring an additional 4,200 shares during the quarter. Hubbell makes up about 22.0% of Engine NO. 1 LLC’s portfolio, making the stock its 3rd largest position. Engine NO. 1 LLC’s holdings in Hubbell were worth $8,279,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of HUBB. Creative Financial Designs Inc. ADV raised its position 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. Stonebridge Financial Group LLC bought a new stake in Hubbell during the 4th quarter valued at $30,000. Versant Capital Management Inc raised its holdings in Hubbell by 64.6% during the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after buying an additional 31 shares during the last quarter. Venturi Wealth Management LLC lifted 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 in the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in shares of Hubbell during the fourth quarter valued at about $69,000. 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 Hubbell stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $389.06, for a total value of $452,865.84. Following the completion of the sale, 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 SEC, which can be accessed through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Hubbell Trading Up 3.5 %

NYSE HUBB opened at $340.73 on Wednesday. The stock has a market capitalization of $18.29 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 1.34 and a beta of 0.95. The business’s fifty day moving average is $348.81 and its 200-day moving average is $407.65. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. Hubbell Incorporated has a one year low of $299.43 and a one year high of $481.35.

Hubbell (NYSE:HUBB) last released its earnings results 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. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the previous year, the company earned $3.69 earnings per share. The company’s quarterly revenue was down .9% on a year-over-year basis. Equities research analysts predict that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell declared that its board has authorized a stock repurchase program on Wednesday, February 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the industrial products company to buy up to 2.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 1.55%. The ex-dividend date was Friday, February 28th. Hubbell’s dividend payout ratio is currently 36.77%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. StockNews.com cut shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, April 11th. JPMorgan Chase & Co. cut their target price on Hubbell from $430.00 to $352.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Barclays lowered their price target on Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. Finally, Wells Fargo & Company cut 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. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $449.38.

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.