Groupama Asset Managment Has $4.54 Million Position in Hubbell Incorporated (NYSE:HUBB)

Groupama Asset Managment raised its stake in Hubbell Incorporated (NYSE:HUBB) by 55.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,832 shares of the industrial products company’s stock after acquiring an additional 3,877 shares during the period. Groupama Asset Managment’s holdings in Hubbell were worth $4,541,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Creative Financial Designs Inc. ADV boosted its position in shares of Hubbell by 85.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 30 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in Hubbell during the fourth quarter worth $30,000. Versant Capital Management Inc boosted its holdings in shares of Hubbell by 64.6% in the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 31 shares in the last quarter. Venturi Wealth Management LLC increased its stake in shares of Hubbell by 69.7% in the 4th quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 53 shares during the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in shares of Hubbell during the 4th quarter worth $69,000. 88.16% of the stock is currently owned by institutional investors.

Insider Activity at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was 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 in the company, valued at approximately $1,683,462.62. The trade was a 21.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.66% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wells Fargo & Company reduced 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 dropped their target price on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. Finally, StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $462.13.

Hubbell Stock Performance

Shares of HUBB stock opened at $332.53 on Wednesday. The firm has a market capitalization of $17.85 billion, a price-to-earnings ratio of 23.16, a PEG ratio of 1.34 and a beta of 0.94. 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 business’s 50-day moving average price is $375.48 and its 200-day moving average price is $417.88. Hubbell Incorporated has a 12 month low of $316.34 and a 12 month high of $481.35.

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

Hubbell declared that its board has approved a share buyback program on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Hubbell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid a $1.32 dividend. The ex-dividend date was Friday, February 28th. This represents a $5.28 annualized dividend and a dividend yield of 1.59%. Hubbell’s dividend payout ratio is 36.77%.

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.