Hubbell Incorporated (NYSE:HUBB) Shares Acquired by Truist Financial Corp

Truist Financial Corp grew its position in Hubbell Incorporated (NYSE:HUBB) by 3.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 15,967 shares of the industrial products company’s stock after acquiring an additional 485 shares during the quarter. Truist Financial Corp’s holdings in Hubbell were worth $6,688,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of HUBB. Groupama Asset Managment lifted its stake in shares of 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 acquired a new position in Hubbell during the 4th quarter worth approximately $30,000. Prospera Private Wealth LLC acquired a new position in Hubbell during the 3rd quarter worth approximately $33,000. Versant Capital Management Inc lifted its position in 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 in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in Hubbell during the 3rd quarter worth approximately $41,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Hubbell Stock Performance

Shares of HUBB opened at $376.74 on Friday. The business’s 50 day moving average is $420.03 and its two-hundred day moving average is $423.99. Hubbell Incorporated has a 52-week low of $346.13 and a 52-week high of $481.35. The firm has a market cap of $20.22 billion, a price-to-earnings ratio of 26.24, a PEG ratio of 1.34 and a beta of 0.92. 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 (NYSE:HUBB) last issued 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. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the business earned $3.69 EPS. The business’s quarterly revenue was down .9% on a year-over-year basis. Analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell announced that its Board of Directors has authorized a share buyback plan on Wednesday, February 12th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the industrial products company to purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a $1.32 dividend. 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 1.40%. Hubbell’s dividend payout ratio (DPR) is 36.77%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on HUBB shares. Barclays boosted their price target on Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Morgan Stanley boosted their price target on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Deutsche Bank Aktiengesellschaft lowered Hubbell from a “buy” rating to a “hold” rating and reduced their price target for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company reduced their price target on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research 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’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $471.50.

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.