HighTower Advisors LLC Grows Holdings in Hubbell Incorporated (NYSE:HUBB)

HighTower Advisors LLC raised its position in Hubbell Incorporated (NYSE:HUBB) by 7.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,235 shares of the industrial products company’s stock after purchasing an additional 1,910 shares during the period. HighTower Advisors LLC’s holdings in Hubbell were worth $12,246,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HUBB. Groupama Asset Managment lifted its holdings in Hubbell by 17.0% in the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 1,010 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in Hubbell in the 4th quarter valued at about $30,000. Prospera Private Wealth LLC purchased a new position in Hubbell in the 3rd quarter valued at about $33,000. Versant Capital Management Inc lifted its holdings in shares of Hubbell by 64.6% during the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 31 shares during the period. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Hubbell by 69.7% during the 4th quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 53 shares during the period. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Hubbell Trading Up 2.9 %

Shares of HUBB stock opened at $341.52 on Monday. The stock has a market cap of $18.33 billion, a price-to-earnings ratio of 23.78, a price-to-earnings-growth ratio of 1.34 and a beta of 0.94. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. Hubbell Incorporated has a fifty-two week low of $330.32 and a fifty-two week high of $481.35. The firm’s 50 day moving average price is $397.69 and its two-hundred day moving average price is $421.80.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $4.02 by $0.08. The firm 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 was down .9% compared to the same quarter last year. During the same period in the previous year, the company posted $3.69 earnings per share. On average, analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.55%. Hubbell’s dividend payout ratio is currently 36.77%.

Hubbell announced that its Board of Directors has initiated a share 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 stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Barclays cut their price objective on shares of Hubbell from $475.00 to $422.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and cut their price objective for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. Wells Fargo & Company cut their price objective 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. Finally, StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $464.88.

Insider Activity

In other 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 sale, the insider now owns 4,327 shares in the company, valued at $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.66% of the company’s stock.

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.