Sanctuary Advisors LLC Has $2.31 Million Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Sanctuary Advisors LLC raised its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 0.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,422 shares of the industrial products company’s stock after purchasing an additional 27 shares during the quarter. Sanctuary Advisors LLC’s holdings in Hubbell were worth $2,313,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Groupama Asset Managment lifted its holdings in Hubbell by 17.0% during 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 during the last quarter. Stonebridge Financial Group LLC acquired a new stake in Hubbell during the 4th quarter valued at $30,000. Prospera Private Wealth LLC acquired a new stake in Hubbell during the 3rd quarter valued at $33,000. Versant Capital Management Inc lifted its holdings in 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 during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in Hubbell during the 3rd quarter valued at $41,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Stock Down 3.3 %

Shares of NYSE HUBB opened at $376.74 on Friday. 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 52 week low of $346.13 and a 52 week high of $481.35. The stock has a market capitalization of $20.22 billion, a P/E ratio of 26.24, a PEG ratio of 1.34 and a beta of 0.92. The stock’s fifty day moving average is $420.03 and its 200 day moving average is $423.99.

Hubbell (NYSE:HUBB) last issued its quarterly 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. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter last year, the business earned $3.69 earnings per share. Hubbell’s revenue was down .9% on a year-over-year basis. Sell-side analysts forecast that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell declared that its board has initiated a share buyback plan on Wednesday, February 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the industrial products company to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Friday, February 28th. Hubbell’s dividend payout ratio is presently 36.77%.

Analyst Upgrades and Downgrades

HUBB has been the subject of a number of research reports. Sanford C. Bernstein initiated coverage on Hubbell in a report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 target price for the company. StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Barclays lifted their target price on Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and dropped their target price for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. Finally, Wells Fargo & Company dropped their target price on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $471.50.

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.