MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 25,534 Shares of Hubbell Incorporated (NYSE:HUBB)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Hubbell Incorporated (NYSE:HUBB) by 6.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 399,421 shares of the industrial products company’s stock after purchasing an additional 25,534 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Hubbell were worth $167,314,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of HUBB. Salem Investment Counselors Inc. lifted its holdings 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 worth $3,830,000 after purchasing an additional 1,886 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Hubbell by 122.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 28,723 shares of the industrial products company’s stock worth $12,032,000 after acquiring an additional 15,806 shares during the period. Smith Group Asset Management LLC increased its stake in Hubbell by 1.6% during the fourth quarter. Smith Group Asset Management LLC now owns 67,042 shares of the industrial products company’s stock valued at $28,083,000 after acquiring an additional 1,049 shares during the period. First Pacific Financial increased its position in shares of Hubbell by 11,180.0% during the fourth quarter. First Pacific Financial now owns 1,692 shares of the industrial products company’s stock valued at $709,000 after purchasing an additional 1,677 shares during the period. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Hubbell by 25.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 190 shares of the industrial products company’s stock worth $80,000 after acquiring an additional 38 shares during the period. 88.16% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction that occurred 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 sale, the insider now directly 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 legal filing with the SEC, which is available at this link. 0.66% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

Hubbell Price Performance

Shares of HUBB stock opened at $356.66 on Monday. The stock has a 50-day moving average price of $343.12 and a 200 day moving average price of $398.64. Hubbell Incorporated has a 12 month low of $299.43 and a 12 month high of $481.35. The firm has a market cap of $19.14 billion, a price-to-earnings ratio of 24.84, a PEG ratio of 1.34 and a beta of 0.97. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Thursday, May 1st. The industrial products company reported $3.50 earnings per share for the quarter, missing the consensus estimate of $3.73 by ($0.23). Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the prior year, the company earned $3.60 earnings per share. The company’s quarterly revenue was down 2.4% on a year-over-year basis. Research analysts expect that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the industrial products company to buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be paid a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.48%. Hubbell’s dividend payout ratio (DPR) is presently 35.72%.

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.