Vontobel Holding Ltd. Increases Stock Position in Hubbell Incorporated (NYSE:HUBB)

Vontobel Holding Ltd. grew its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 9,720.7% during the 4th quarter, HoldingsChannel reports. The fund owned 74,048 shares of the industrial products company’s stock after acquiring an additional 73,294 shares during the quarter. Vontobel Holding Ltd.’s holdings in Hubbell were worth $31,018,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Stonebridge Financial Group LLC bought a new position in shares of Hubbell in the fourth quarter worth approximately $30,000. Prospera Private Wealth LLC bought a new position in shares of Hubbell in the third quarter worth approximately $33,000. Versant Capital Management Inc grew its holdings in shares of Hubbell by 64.6% in the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 31 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Hubbell in the third quarter worth approximately $41,000. Finally, Northwest Investment Counselors LLC bought a new position in shares of Hubbell in the third quarter worth approximately $58,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Stock Performance

Shares of HUBB stock opened at $389.93 on Friday. Hubbell Incorporated has a 12 month low of $346.13 and a 12 month high of $481.35. The stock has a market cap of $20.93 billion, a PE ratio of 27.15, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92. The company has a current ratio of 1.64, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. The company’s fifty day moving average price is $427.95 and its 200-day moving average price is $423.00.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $4.02 by $0.08. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the business posted $3.69 EPS. The company’s quarterly revenue was down .9% on a year-over-year basis. On average, equities analysts expect that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Friday, February 28th. Hubbell’s dividend payout ratio is presently 36.77%.

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

Analysts Set New Price Targets

HUBB has been the topic of several recent analyst reports. Sanford C. Bernstein started coverage on shares of Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price on the stock. Wells Fargo & Company cut their price target on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Barclays lifted their price target on shares of Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Morgan Stanley lifted their price target on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a “buy” rating to a “hold” rating and cut their price target for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Hubbell currently has a consensus rating of “Hold” and a consensus target price of $471.50.

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.