Pacer Advisors Inc. Acquires 1,741 Shares of Hubbell Incorporated (NYSE:HUBB)

Pacer Advisors Inc. raised its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 43.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 5,736 shares of the industrial products company’s stock after purchasing an additional 1,741 shares during the period. Pacer Advisors Inc.’s holdings in Hubbell were worth $2,403,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Salem Investment Counselors Inc. increased its position in 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 buying an additional 1,886 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings 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 acquiring an additional 15,806 shares in the last quarter. LGT Capital Partners LTD. purchased a new position in shares of Hubbell in the 3rd quarter worth about $39,687,000. Principal Financial Group Inc. boosted its stake in Hubbell by 7.1% in the 3rd quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company’s stock worth $98,187,000 after purchasing an additional 15,215 shares in the last quarter. Finally, Impax Asset Management Group plc grew its position in Hubbell by 30.3% during the 3rd quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock valued at $514,377,000 after purchasing an additional 279,654 shares during the last quarter. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Mark Eugene Mikes sold 1,144 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the sale, the insider now directly owns 2,957 shares in the company, valued at $1,378,553.40. This represents a 27.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.66% of the company’s stock.

Hubbell Stock Down 0.9 %

Hubbell stock opened at $422.94 on Friday. Hubbell Incorporated has a one year low of $334.17 and a one year high of $481.35. The stock has a fifty day moving average of $439.29 and a 200 day moving average of $421.26. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. The stock has a market cap of $22.70 billion, a PE ratio of 30.47, a price-to-earnings-growth ratio of 1.43 and a beta of 0.93.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating the consensus estimate of $4.47 by $0.02. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.95 EPS. As a group, sell-side analysts predict that Hubbell Incorporated will post 16.48 EPS for the current year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.25%. Hubbell’s dividend payout ratio is currently 38.04%.

Wall Street Analysts Forecast Growth

HUBB has been the subject of several recent analyst reports. Sanford C. Bernstein assumed coverage on shares of Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price for the company. Wells Fargo & Company decreased their price objective on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Barclays increased their target price on Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Mizuho boosted their price target on Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and lowered their price target for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $471.50.

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.