Arizona State Retirement System Boosts Stock Position in Hubbell Incorporated (NYSE:HUBB)

Arizona State Retirement System lifted its position in Hubbell Incorporated (NYSE:HUBB) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 15,591 shares of the industrial products company’s stock after purchasing an additional 210 shares during the quarter. Arizona State Retirement System’s holdings in Hubbell were worth $6,531,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Stonebridge Financial Group LLC bought a new position in shares of Hubbell in the fourth quarter worth $30,000. Prospera Private Wealth LLC bought a new position in shares of Hubbell in the third quarter worth $33,000. Versant Capital Management Inc increased 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 period. Ashton Thomas Securities LLC bought a new position in Hubbell in the third quarter valued at $41,000. Finally, Venturi Wealth Management LLC increased its stake in Hubbell by 69.7% in the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 53 shares during the last quarter. Institutional investors own 88.16% of the company’s stock.

Hubbell Stock Up 2.5 %

Shares of NYSE:HUBB opened at $355.05 on Friday. The stock’s 50-day moving average price is $406.11 and its 200-day moving average price is $422.79. Hubbell Incorporated has a 12-month low of $337.97 and a 12-month high of $481.35. The stock has a market capitalization of $19.05 billion, a P/E ratio of 24.73, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. 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 (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.02 by $0.08. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period last year, the firm earned $3.69 earnings per share. The company’s revenue for the quarter was down .9% compared to the same quarter last year. On average, equities analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

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

Hubbell announced that its board has authorized a share buyback program on Wednesday, February 12th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the industrial products company to purchase up to 2.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

HUBB has been the topic of a number of research analyst reports. StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Barclays reduced their target price on Hubbell from $475.00 to $422.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. Wells Fargo & Company reduced their target price on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and reduced their target price for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Five 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 Transactions at Hubbell

In other 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 transaction of $452,865.84. Following the completion of the sale, the insider now directly owns 4,327 shares in the company, valued at approximately $1,683,462.62. This represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.66% of the stock is currently owned by company insiders.

Hubbell 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.