Hubbell Incorporated (NYSE:HUBB) Shares Bought by Utah Retirement Systems

Utah Retirement Systems boosted its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 0.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 8,857 shares of the industrial products company’s stock after purchasing an additional 48 shares during the period. Utah Retirement Systems’ holdings in Hubbell were worth $3,710,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Creative Financial Designs Inc. ADV raised its position in Hubbell by 85.7% during 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 in the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of Hubbell during the 4th quarter valued at approximately $30,000. Versant Capital Management Inc increased its holdings in shares of Hubbell by 64.6% during the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 31 shares in the last quarter. Johnson Financial Group Inc. lifted its stake in shares of Hubbell by 166.7% in the 4th quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company’s stock valued at $44,000 after purchasing an additional 65 shares during the period. Finally, Venturi Wealth Management LLC boosted its holdings in Hubbell by 69.7% during the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock worth $54,000 after buying an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Hubbell from $430.00 to $352.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Barclays reduced their price target on Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a report on Friday, April 11th. Finally, Wells Fargo & Company decreased their target price on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $449.38.

Hubbell Price Performance

Hubbell stock opened at $342.97 on Friday. The company has a fifty day simple moving average of $344.61 and a 200-day simple moving average of $403.47. 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 firm has a market capitalization of $18.41 billion, a price-to-earnings ratio of 23.88, a PEG ratio of 1.34 and a beta of 0.95. Hubbell Incorporated has a 52-week low of $299.43 and a 52-week high of $481.35.

Hubbell (NYSE:HUBB) last released its quarterly earnings data 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 business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.39 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The firm’s revenue was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.60 EPS. On average, equities analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.54%. The ex-dividend date is Friday, May 30th. Hubbell’s payout ratio is currently 36.77%.

Hubbell announced that its Board of Directors has initiated a share buyback program on Wednesday, February 12th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the industrial products company to reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $389.06, for a total transaction 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. The trade was a 21.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.66% of the stock is owned by company insiders.

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.