MONECO Advisors LLC Takes $281,000 Position in Hubbell Incorporated (NYSE:HUBB)

MONECO Advisors LLC bought a new stake in shares of Hubbell Incorporated (NYSE:HUBB) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 672 shares of the industrial products company’s stock, valued at approximately $281,000.

Several other hedge funds have also recently made changes to their positions in the business. TCW Group Inc. purchased a new stake in Hubbell in the fourth quarter worth $6,962,000. Wealth Management Nebraska purchased a new stake in Hubbell in the fourth quarter worth $252,000. Suncoast Equity Management grew its stake in Hubbell by 8.7% in the fourth quarter. Suncoast Equity Management now owns 2,676 shares of the industrial products company’s stock worth $1,121,000 after purchasing an additional 215 shares during the period. ING Groep NV grew its stake in Hubbell by 32.4% in the fourth quarter. ING Groep NV now owns 6,855 shares of the industrial products company’s stock worth $2,871,000 after purchasing an additional 1,676 shares during the period. Finally, Handelsbanken Fonder AB grew its stake in Hubbell by 41.2% in the fourth quarter. Handelsbanken Fonder AB now owns 53,858 shares of the industrial products company’s stock worth $22,561,000 after purchasing an additional 15,719 shares during the period. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is owned by corporate insiders.

Hubbell Trading Up 0.8 %

Shares of NYSE:HUBB opened at $372.25 on Wednesday. The company has a market cap of $19.98 billion, a P/E ratio of 25.92, a PEG ratio of 1.34 and a beta of 0.92. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. Hubbell Incorporated has a 1 year low of $346.13 and a 1 year high of $481.35. The stock’s fifty day moving average price is $418.28 and its 200-day moving average price is $424.41.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.02 by $0.08. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.41 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The company’s quarterly revenue was down .9% on a year-over-year basis. During the same period in the prior year, the company posted $3.69 earnings per share. Sell-side analysts expect that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell declared that its board has authorized a share repurchase plan on Wednesday, February 12th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the industrial products company to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Hubbell Announces Dividend

The firm 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 dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Friday, February 28th. Hubbell’s payout ratio is currently 36.77%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and cut their target price for the stock from $493.00 to $473.00 in a research note on Tuesday, November 26th. Barclays increased their target price on Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Sanford C. Bernstein started coverage on Hubbell in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price on the stock. Finally, Wells Fargo & Company cut their target price 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. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.