Lighthouse Investment Partners LLC Invests $3.14 Million in Hubbell Incorporated (NYSE:HUBB)

Lighthouse Investment Partners LLC purchased a new position in shares of Hubbell Incorporated (NYSE:HUBB) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 7,500 shares of the industrial products company’s stock, valued at approximately $3,142,000.

A number of other large investors have also made changes to their positions in HUBB. Creative Financial Designs Inc. ADV increased its position in shares of 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 period. Stonebridge Financial Group LLC purchased a new position in Hubbell in the 4th quarter worth $30,000. Johnson Financial Group Inc. raised its stake in Hubbell by 166.7% in the 4th quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company’s stock worth $44,000 after acquiring an additional 65 shares during the last quarter. Venturi Wealth Management LLC raised its stake in Hubbell by 69.7% in the 4th quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 53 shares during the last quarter. Finally, Golden State Wealth Management LLC purchased a new position in Hubbell in the 4th quarter worth $69,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Activity

In related news, insider Alyssa R. Flynn sold 1,164 shares of the firm’s stock in a transaction dated 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 directly owns 4,327 shares of the company’s stock, valued at approximately $1,683,462.62. This trade represents a 21.20% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.66% of the company’s stock.

Hubbell Price Performance

Shares of HUBB opened at $387.88 on Wednesday. The business’s 50-day moving average is $343.61 and its two-hundred day moving average is $398.18. The company has a market capitalization of $20.70 billion, a P/E ratio of 27.01, a P/E/G ratio of 1.34 and a beta of 0.97. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. Hubbell Incorporated has a fifty-two week low of $299.43 and a fifty-two week high of $481.35.

Hubbell (NYSE:HUBB) last posted its 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). Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter last year, the business earned $3.60 earnings per share. Hubbell’s revenue was down 2.4% on a year-over-year basis. Research analysts predict that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date is Friday, May 30th. Hubbell’s dividend payout ratio (DPR) is presently 35.72%.

Hubbell declared that its Board of Directors has authorized a share buyback plan 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 repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

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.