Aigen Investment Management LP Purchases Shares of 1,047 Hubbell Incorporated (NYSE:HUBB)

Aigen Investment Management LP purchased a new stake in Hubbell Incorporated (NYSE:HUBB) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,047 shares of the industrial products company’s stock, valued at approximately $439,000.

A number of other hedge funds have also recently bought and sold shares of the stock. MassMutual Private Wealth & Trust FSB raised its stake in shares of Hubbell by 12.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company’s stock valued at $96,000 after buying an additional 25 shares in the last quarter. JGP Wealth Management LLC raised its stake in shares of Hubbell by 1.2% in the 4th quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company’s stock valued at $884,000 after buying an additional 26 shares in the last quarter. Sanctuary Advisors LLC raised its stake in shares of 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 buying an additional 27 shares in the last quarter. Avestar Capital LLC raised its stake in shares of Hubbell by 5.1% in the 3rd quarter. Avestar Capital LLC now owns 577 shares of the industrial products company’s stock valued at $247,000 after buying an additional 28 shares in the last quarter. Finally, BHK Investment Advisors LLC raised its stake in shares of Hubbell by 2.3% in the 4th quarter. BHK Investment Advisors LLC now owns 1,351 shares of the industrial products company’s stock valued at $566,000 after buying an additional 30 shares in the last quarter. 88.16% of the stock is owned by institutional investors.

Hubbell Stock Up 2.5 %

Shares of NYSE:HUBB opened at $355.05 on Friday. Hubbell Incorporated has a 12 month low of $337.97 and a 12 month high of $481.35. The company’s 50-day moving average price is $406.11 and its two-hundred day moving average price is $422.79. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. The firm has a market cap of $19.05 billion, a P/E ratio of 24.73, a P/E/G ratio of 1.34 and a beta of 0.95.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.08. The company had revenue of $1.33 billion for 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 company’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the firm earned $3.69 EPS. As a group, research analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.49%. The ex-dividend date is Friday, February 28th. Hubbell’s payout ratio is 36.77%.

Hubbell announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to repurchase up to 2.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

HUBB has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a “buy” rating to a “hold” rating and dropped their price objective for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Barclays dropped their target price on shares of Hubbell from $475.00 to $422.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. Finally, Wells Fargo & Company dropped 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. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $464.88.

Insider Buying and Selling

In related news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total transaction of $452,865.84. Following the transaction, the insider now owns 4,327 shares of the company’s stock, valued at $1,683,462.62. This trade represents a 21.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.66% of the stock is owned by insiders.

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.