Gotham Asset Management LLC Increases Stock Position in Hubbell Incorporated (NYSE:HUBB)

Gotham Asset Management LLC grew its holdings in Hubbell Incorporated (NYSE:HUBB) by 5.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,373 shares of the industrial products company’s stock after buying an additional 1,670 shares during the quarter. Gotham Asset Management LLC owned 0.06% of Hubbell worth $14,399,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB boosted its holdings in Hubbell by 12.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company’s stock valued at $96,000 after acquiring an additional 25 shares during the period. JGP Wealth Management LLC grew its holdings in shares of Hubbell by 1.2% during the fourth quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company’s stock worth $884,000 after purchasing an additional 26 shares during the last quarter. Huntington National Bank lifted its stake in Hubbell by 3.0% in the fourth quarter. Huntington National Bank now owns 886 shares of the industrial products company’s stock valued at $371,000 after buying an additional 26 shares during the last quarter. Sanctuary Advisors LLC raised its position in Hubbell by 0.5% in the 4th quarter. Sanctuary Advisors LLC now owns 5,422 shares of the industrial products company’s stock valued at $2,313,000 after purchasing an additional 27 shares during the last quarter. Finally, Mindset Wealth Management LLC grew its holdings in shares of Hubbell by 1.7% during the fourth quarter. Mindset Wealth Management LLC now owns 1,655 shares of the industrial products company’s stock worth $693,000 after buying an additional 27 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HUBB. StockNews.com downgraded Hubbell from a “buy” rating to a “hold” rating in a report on Friday, April 11th. 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. Finally, Barclays cut their price objective on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $449.38.

Insider Activity at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of the 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 completion of the transaction, the insider now owns 4,327 shares in the company, valued at $1,683,462.62. This represents a 21.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Hubbell Stock Up 0.6 %

Shares of NYSE:HUBB opened at $356.66 on Friday. The stock has a 50-day simple moving average of $343.12 and a 200-day simple moving average of $398.99. The stock has a market capitalization of $19.14 billion, a P/E ratio of 24.84, a PEG ratio of 1.34 and a beta of 0.97. Hubbell Incorporated has a 1 year low of $299.43 and a 1 year high of $481.35. 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 (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 business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.39 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. Hubbell’s 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. Equities analysts forecast that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

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

Hubbell announced that its Board of Directors has authorized a stock buyback 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 reacquire up to 2.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Hubbell 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.