Hubbell Incorporated (NYSE:HUBB) Stake Boosted by New York Life Investment Management LLC

New York Life Investment Management LLC grew its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 0.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,285 shares of the industrial products company’s stock after acquiring an additional 65 shares during the period. New York Life Investment Management LLC’s holdings in Hubbell were worth $3,052,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of HUBB. Nisa Investment Advisors LLC grew its holdings in shares of Hubbell by 5.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 5,601 shares of the industrial products company’s stock valued at $2,399,000 after acquiring an additional 270 shares in the last quarter. First Trust Direct Indexing L.P. boosted its holdings in Hubbell by 76.7% in the third quarter. First Trust Direct Indexing L.P. now owns 2,044 shares of the industrial products company’s stock worth $876,000 after purchasing an additional 887 shares in the last quarter. US Bancorp DE boosted its holdings in Hubbell by 1.3% in the third quarter. US Bancorp DE now owns 25,343 shares of the industrial products company’s stock worth $10,855,000 after purchasing an additional 327 shares in the last quarter. Stephens Inc. AR boosted its holdings in Hubbell by 19.7% in the third quarter. Stephens Inc. AR now owns 1,663 shares of the industrial products company’s stock worth $712,000 after purchasing an additional 274 shares in the last quarter. Finally, Gladstone Institutional Advisory LLC boosted its holdings in Hubbell by 9.2% in the third quarter. Gladstone Institutional Advisory LLC now owns 817 shares of the industrial products company’s stock worth $350,000 after purchasing an additional 69 shares in the last quarter. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on HUBB shares. Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. 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 price objective for the company. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Wells Fargo & Company cut their target price on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Finally, Barclays boosted their target price on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $471.50.

Insider Activity at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of the company’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 sale, the insider now owns 4,327 shares of the company’s stock, valued at $1,683,462.62. The trade was a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.66% of the stock is currently owned by insiders.

Hubbell Stock Up 0.6 %

Shares of HUBB opened at $371.51 on Friday. The company has a 50-day simple moving average of $413.77 and a 200-day simple moving average of $423.65. The firm has a market capitalization of $19.94 billion, a P/E ratio of 25.87, a P/E/G ratio of 1.34 and a beta of 0.92. 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 52 week low of $346.13 and a 52 week high of $481.35.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data 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. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The firm’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.69 earnings per share. On average, equities research analysts expect that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid a $1.32 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a yield of 1.42%. Hubbell’s payout ratio is currently 36.77%.

Hubbell announced that its board has authorized a share buyback plan on Wednesday, February 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.