Grant Private Wealth Management Inc Acquires New Shares in Hubbell Incorporated (NYSE:HUBB)

Grant Private Wealth Management Inc bought a new position in shares of Hubbell Incorporated (NYSE:HUBB) during the 4th quarter, HoldingsChannel reports. The firm bought 1,872 shares of the industrial products company’s stock, valued at approximately $784,000.

Other large investors have also recently made changes to their positions in the company. Creative Financial Designs Inc. ADV lifted its holdings in 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 purchasing an additional 30 shares in the last quarter. Groupama Asset Managment lifted its stake in Hubbell by 17.0% in the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 1,010 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in Hubbell in the 4th quarter valued at $30,000. Versant Capital Management Inc grew its position 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 valued at $33,000 after purchasing an additional 31 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in shares of Hubbell by 69.7% in the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 53 shares during the period. 88.16% of the stock is owned by institutional investors.

Hubbell Trading Up 2.7 %

HUBB stock opened at $341.89 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. Hubbell Incorporated has a one year low of $316.34 and a one year high of $481.35. The company’s 50 day moving average price is $373.18 and its two-hundred day moving average price is $417.35. The company has a market capitalization of $18.35 billion, a PE ratio of 23.81, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95.

Hubbell (NYSE:HUBB) last posted its quarterly 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 business had revenue of $1.33 billion during 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 was down .9% on a year-over-year basis. During the same period in the prior year, the business posted $3.69 earnings per share. As a group, analysts predict that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a $1.32 dividend. The ex-dividend date was Friday, February 28th. This represents a $5.28 annualized dividend and a yield of 1.54%. Hubbell’s payout ratio is currently 36.77%.

Hubbell declared that its Board of Directors has approved a stock repurchase plan 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 shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

HUBB has been the subject of several recent analyst reports. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research report on Thursday. Wells Fargo & Company cut their price objective on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Finally, Barclays lowered their target price on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $462.13.

Insider Activity

In related news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total value of $452,865.84. Following the transaction, the insider now directly owns 4,327 shares of the company’s stock, valued at $1,683,462.62. The trade was 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 this link. 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.