Occudo Quantitative Strategies LP Makes New $461,000 Investment in Hubbell Incorporated (NYSE:HUBB)

Occudo Quantitative Strategies LP acquired a new position in Hubbell Incorporated (NYSE:HUBB) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,101 shares of the industrial products company’s stock, valued at approximately $461,000.

Several other large investors have also recently modified their holdings of the business. Norges Bank bought a new stake in shares of Hubbell in the fourth quarter valued at approximately $195,218,000. Marshall Wace LLP raised its position in shares of Hubbell by 418.1% in the fourth quarter. Marshall Wace LLP now owns 307,050 shares of the industrial products company’s stock valued at $128,620,000 after purchasing an additional 247,786 shares during the period. Bain Capital Public Equity Management II LLC bought a new stake in shares of Hubbell in the fourth quarter valued at approximately $95,868,000. Raymond James Financial Inc. bought a new stake in shares of Hubbell in the fourth quarter valued at approximately $63,647,000. Finally, Ameriprise Financial Inc. raised its position in shares of Hubbell by 80.1% in the fourth quarter. Ameriprise Financial Inc. now owns 336,308 shares of the industrial products company’s stock valued at $140,876,000 after purchasing an additional 149,622 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Transactions at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction 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 transaction, the insider now 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 filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

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

Hubbell Price Performance

Shares of NYSE:HUBB opened at $386.64 on Friday. The company’s fifty day moving average price is $346.02 and its 200-day moving average price is $397.58. The firm has a market capitalization of $20.64 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 1.34 and a beta of 0.97. Hubbell Incorporated has a one year low of $299.43 and a one year high of $481.35. 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 (NYSE:HUBB) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $3.50 EPS for the quarter, missing analysts’ consensus estimates of $3.73 by ($0.23). The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.39 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. Hubbell’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the previous year, the company earned $3.60 EPS. On average, equities research analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell announced that its Board of Directors has initiated a share buyback plan on Wednesday, February 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the industrial products company to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase plans are generally a sign 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 issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date is Friday, May 30th. Hubbell’s payout ratio is 35.72%.

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.