Occudo Quantitative Strategies LP Takes Position in Hubbell Incorporated (NYSE:HUBB)

Occudo Quantitative Strategies LP acquired a new stake in Hubbell Incorporated (NYSE:HUBB) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 1,101 shares of the industrial products company’s stock, valued at approximately $461,000.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Hubbell by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 6,634,705 shares of the industrial products company’s stock valued at $2,779,212,000 after purchasing an additional 65,033 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Hubbell by 4.8% in the 4th quarter. Bank of New York Mellon Corp now owns 2,826,327 shares of the industrial products company’s stock valued at $1,183,920,000 after purchasing an additional 129,490 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Hubbell by 6.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,510,430 shares of the industrial products company’s stock valued at $632,704,000 after buying an additional 92,954 shares during the period. Invesco Ltd. boosted its position in Hubbell by 1.9% during the 4th quarter. Invesco Ltd. now owns 1,490,479 shares of the industrial products company’s stock valued at $624,347,000 after buying an additional 27,914 shares during the period. Finally, Geode Capital Management LLC boosted its position in Hubbell by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 1,284,506 shares of the industrial products company’s stock valued at $536,641,000 after buying an additional 29,601 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Stock Up 0.2%

Shares of NYSE HUBB opened at $386.64 on Friday. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. Hubbell Incorporated has a 12 month low of $299.43 and a 12 month high of $481.35. The firm has a market capitalization of $20.64 billion, a PE ratio of 26.92, a price-to-earnings-growth ratio of 1.34 and a beta of 0.97. The firm has a fifty day simple moving average of $346.02 and a two-hundred day simple moving average of $397.58.

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

Hubbell Announces Dividend

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

Hubbell declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the industrial products company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Barclays dropped their price target 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. JPMorgan Chase & Co. dropped their price target on shares of Hubbell from $430.00 to $352.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Finally, StockNews.com cut shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, April 11th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $449.38.

Insiders Place Their Bets

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 directly owns 4,327 shares in the company, valued at $1,683,462.62. This trade represents a 21.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company 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.