Beacon Pointe Advisors LLC Acquires 1,032 Shares of Hubbell Incorporated (NYSE:HUBB)

Beacon Pointe Advisors LLC raised its holdings in Hubbell Incorporated (NYSE:HUBB) by 29.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,592 shares of the industrial products company’s stock after purchasing an additional 1,032 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in Hubbell were worth $1,924,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Salem Investment Counselors Inc. raised its position in Hubbell by 26.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 9,144 shares of the industrial products company’s stock valued at $3,830,000 after purchasing an additional 1,886 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Hubbell by 122.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 28,723 shares of the industrial products company’s stock valued at $12,032,000 after purchasing an additional 15,806 shares during the last quarter. Principal Financial Group Inc. raised its position in Hubbell by 7.1% in the 3rd quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company’s stock valued at $98,187,000 after purchasing an additional 15,215 shares during the last quarter. Nordea Investment Management AB raised its position in Hubbell by 29.6% in the 4th quarter. Nordea Investment Management AB now owns 160,630 shares of the industrial products company’s stock valued at $67,503,000 after purchasing an additional 36,643 shares during the last quarter. Finally, Smith Group Asset Management LLC raised its position in Hubbell by 1.6% in the 4th quarter. Smith Group Asset Management LLC now owns 67,042 shares of the industrial products company’s stock valued at $28,083,000 after purchasing an additional 1,049 shares during the last quarter. Institutional investors own 88.16% of the company’s stock.

Insider Activity

In other news, insider Alyssa R. Flynn sold 1,164 shares of the company’s 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 directly owns 4,327 shares of the company’s stock, valued at $1,683,462.62. This represents a 21.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.66% of the stock is currently owned by company insiders.

Hubbell Trading Down 5.6 %

NYSE HUBB opened at $342.97 on Friday. 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 12 month low of $299.43 and a 12 month high of $481.35. The company has a market capitalization of $18.41 billion, a PE ratio of 23.88, a P/E/G ratio of 1.34 and a beta of 0.95. The stock has a 50-day simple moving average of $344.61 and a 200 day simple moving average of $403.47.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $3.50 EPS for the quarter, missing analysts’ consensus estimates of $3.77 by ($0.27). The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.39 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The business’s revenue was down 2.4% compared to the same quarter last year. During the same period last year, the company earned $3.60 earnings per share. Research analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell announced that its board has initiated a share repurchase program on Wednesday, February 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the industrial products company to repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a $1.32 dividend. The ex-dividend date is Friday, May 30th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.54%. Hubbell’s dividend payout ratio (DPR) is presently 36.77%.

Analyst Ratings Changes

Several equities analysts have issued reports on HUBB shares. Wells Fargo & Company cut their price objective on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. StockNews.com downgraded Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, April 11th. JPMorgan Chase & Co. dropped their target price on Hubbell from $430.00 to $352.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Finally, Barclays dropped their target price 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. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company 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.