Headlands Technologies LLC Purchases Shares of 300 Hubbell Incorporated (NYSE:HUBB)

Headlands Technologies LLC acquired a new position in shares of Hubbell Incorporated (NYSE:HUBB) during the 4th quarter, Holdings Channel reports. The fund acquired 300 shares of the industrial products company’s stock, valued at approximately $126,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Salem Investment Counselors Inc. raised its stake in Hubbell by 26.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 9,144 shares of the industrial products company’s stock valued at $3,830,000 after purchasing an additional 1,886 shares in the last quarter. Janney Montgomery Scott LLC raised its position in shares of Hubbell by 122.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 28,723 shares of the industrial products company’s stock valued at $12,032,000 after buying an additional 15,806 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Hubbell by 7.1% in the 3rd quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company’s stock valued at $98,187,000 after acquiring an additional 15,215 shares during the last quarter. Nordea Investment Management AB grew its position in Hubbell by 29.6% in the fourth quarter. Nordea Investment Management AB now owns 160,630 shares of the industrial products company’s stock worth $67,503,000 after acquiring an additional 36,643 shares in the last quarter. Finally, SPX Gestao de Recursos Ltda bought a new stake in Hubbell during the third quarter worth approximately $9,985,000. 88.16% of the stock is currently owned by institutional investors.

Hubbell Trading Down 1.8 %

NYSE HUBB opened at $315.69 on Friday. The stock has a market cap of $16.94 billion, a PE ratio of 21.98, a PEG ratio of 1.34 and a beta of 0.95. Hubbell Incorporated has a 12 month low of $299.43 and a 12 month high of $481.35. The company’s 50-day moving average price is $367.74 and its 200-day moving average price is $416.07. 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 issued its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $4.02 by $0.08. The business had revenue of $1.33 billion for 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 quarterly revenue was down .9% compared to the same quarter last year. During the same period last year, the company posted $3.69 earnings per share. Equities research analysts forecast that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend was Friday, February 28th. Hubbell’s dividend payout ratio is 36.77%.

Hubbell announced that its board has authorized a share repurchase program 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 stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

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

Insider Transactions at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 4,327 shares of the company’s stock, valued at approximately $1,683,462.62. This represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.66% of the company’s stock.

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.