PointState Capital LP Buys New Shares in Hubbell Incorporated (NYSE:HUBB)

PointState Capital LP bought a new stake in shares of Hubbell Incorporated (NYSE:HUBB) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 187,263 shares of the industrial products company’s stock, valued at approximately $78,443,000. Hubbell makes up approximately 1.4% of PointState Capital LP’s holdings, making the stock its 22nd biggest position.

A number of other large investors also recently modified their holdings of HUBB. Creative Financial Designs Inc. ADV increased its holdings in Hubbell by 85.7% in the 4th 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 during the last quarter. Stonebridge Financial Group LLC bought a new stake in Hubbell in the 4th quarter valued at $30,000. Johnson Financial Group Inc. increased its holdings in 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 acquiring an additional 65 shares during the last quarter. Venturi Wealth Management LLC increased its holdings in Hubbell by 69.7% in the 4th quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 53 shares during the last quarter. Finally, Golden State Wealth Management LLC bought a new stake in Hubbell in the 4th quarter valued at $69,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Price Performance

Hubbell stock opened at $385.05 on Thursday. The stock has a market cap of $20.55 billion, a price-to-earnings ratio of 26.81, a price-to-earnings-growth ratio of 1.34 and a beta of 0.97. 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 1 year low of $299.43 and a 1 year high of $481.35. The firm has a 50-day moving average of $344.45 and a two-hundred day moving average of $398.11.

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

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be given a $1.32 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $5.28 annualized dividend and a dividend yield of 1.37%. Hubbell’s payout ratio is presently 35.72%.

Hubbell declared that its board has approved a stock repurchase 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 generally an indication that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have issued reports on HUBB shares. Barclays reduced their price target on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 26th. StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a report on Friday, April 11th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Hubbell from $430.00 to $352.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $449.38.

Insider Transactions at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total transaction of $452,865.84. Following the completion of the transaction, the insider now owns 4,327 shares in the company, valued at $1,683,462.62. The trade was a 21.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.66% of the company’s stock.

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.