2,699 Shares in Hubbell Incorporated (NYSE:HUBB) Acquired by FORA Capital LLC

FORA Capital LLC acquired a new stake in Hubbell Incorporated (NYSE:HUBB) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 2,699 shares of the industrial products company’s stock, valued at approximately $1,131,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Salem Investment Counselors Inc. raised its stake in shares of Hubbell by 26.0% during 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 period. Janney Montgomery Scott LLC increased its position in shares of Hubbell by 122.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 28,723 shares of the industrial products company’s stock valued at $12,032,000 after buying an additional 15,806 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Hubbell by 7.1% in the third quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company’s stock worth $98,187,000 after buying an additional 15,215 shares in the last quarter. Smith Group Asset Management LLC boosted its position in shares of Hubbell by 1.6% in 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. Finally, First Pacific Financial grew its stake in 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 acquiring an additional 1,677 shares in the last quarter. Institutional investors own 88.16% of the company’s stock.

Hubbell Trading Up 0.6 %

Shares of HUBB stock opened at $356.66 on Friday. The business has a 50-day moving average price of $343.12 and a two-hundred day moving average price of $399.31. Hubbell Incorporated has a 12-month low of $299.43 and a 12-month high of $481.35. 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 cap of $19.14 billion, a P/E ratio of 24.84, a price-to-earnings-growth ratio of 1.34 and a beta of 0.97.

Hubbell (NYSE:HUBB) last released its earnings results on Thursday, May 1st. The industrial products company reported $3.50 earnings per share for the quarter, missing analysts’ consensus estimates of $3.73 by ($0.23). The firm 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%. The business’s quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.60 EPS. Equities analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell declared that its Board of Directors has approved a share buyback program on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Hubbell Dividend Announcement

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

Insiders Place Their Bets

In other news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell 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 transaction, the insider now owns 4,327 shares in the company, valued at approximately $1,683,462.62. The trade was a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.66% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on HUBB shares. Barclays cut their price target on shares of 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 research note on Friday, April 11th. Finally, JPMorgan Chase & Co. decreased their target price on Hubbell from $430.00 to $352.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Six equities 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, the company has a consensus rating of “Hold” and an average price target of $449.38.

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.