Bank Julius Baer & Co. Ltd Zurich Buys 22,744 Shares of Hubbell Incorporated (NYSE:HUBB)

Bank Julius Baer & Co. Ltd Zurich increased its stake in Hubbell Incorporated (NYSE:HUBB) by 170.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 36,067 shares of the industrial products company’s stock after purchasing an additional 22,744 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich’s holdings in Hubbell were worth $15,262,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Candriam S.C.A. grew its position in Hubbell by 3.2% in the 4th quarter. Candriam S.C.A. now owns 7,622 shares of the industrial products company’s stock valued at $3,193,000 after purchasing an additional 236 shares during the period. Raymond James Financial Inc. purchased a new position in Hubbell during the 4th quarter worth $63,647,000. Arizona State Retirement System boosted its holdings in Hubbell by 1.4% during the 4th quarter. Arizona State Retirement System now owns 15,591 shares of the industrial products company’s stock worth $6,531,000 after acquiring an additional 210 shares during the last quarter. Aigen Investment Management LP purchased a new position in Hubbell during the 4th quarter worth $439,000. Finally, Proficio Capital Partners LLC purchased a new position in shares of Hubbell in the 4th quarter worth about $40,533,000. Institutional investors own 88.16% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on HUBB. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Wells Fargo & Company lowered their price objective 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. Barclays lowered their price objective 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. Finally, Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and lowered their price objective for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Five investment 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 an average rating of “Hold” and an average target price of $464.88.

Insiders Place Their Bets

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total value of $452,865.84. Following the completion of the sale, the insider now owns 4,327 shares of the company’s stock, valued at $1,683,462.62. This represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is owned by insiders.

Hubbell Stock Up 2.5 %

HUBB stock opened at $355.05 on Friday. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The company’s 50 day moving average is $406.11 and its 200 day moving average is $423.15. The stock has a market cap of $19.05 billion, a price-to-earnings ratio of 24.73, a price-to-earnings-growth ratio of 1.34 and a beta of 0.94. Hubbell Incorporated has a 1-year low of $337.97 and a 1-year high of $481.35.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, topping the consensus estimate of $4.02 by $0.08. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. Hubbell’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the prior year, the business earned $3.69 earnings per share. Sell-side analysts predict that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

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

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