Harvest Fund Management Co. Ltd Has $115,000 Stock Position in Hubbell Incorporated (NYSE:HUBB)

Harvest Fund Management Co. Ltd grew its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 27,400.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 275 shares of the industrial products company’s stock after buying an additional 274 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Hubbell were worth $115,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Hubbell by 12.3% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company’s stock valued at $96,000 after purchasing an additional 25 shares during the period. JGP Wealth Management LLC raised its holdings in shares of Hubbell by 1.2% during the fourth quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company’s stock valued at $884,000 after purchasing an additional 26 shares during the period. Sanctuary Advisors LLC increased its position in shares of Hubbell by 0.5% during the fourth quarter. Sanctuary Advisors LLC now owns 5,422 shares of the industrial products company’s stock worth $2,313,000 after acquiring an additional 27 shares in the last quarter. Avestar Capital LLC increased its position in shares of Hubbell by 5.1% during the third quarter. Avestar Capital LLC now owns 577 shares of the industrial products company’s stock worth $247,000 after acquiring an additional 28 shares in the last quarter. Finally, BHK Investment Advisors LLC increased its position in shares of Hubbell by 2.3% during the fourth quarter. BHK Investment Advisors LLC now owns 1,351 shares of the industrial products company’s stock worth $566,000 after acquiring an additional 30 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on HUBB shares. Barclays decreased their target price on shares of Hubbell from $475.00 to $422.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a “buy” rating to a “hold” rating and decreased their target price for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. Wells Fargo & Company decreased their target price on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Finally, StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $464.88.

Hubbell Trading Down 0.3 %

Shares of HUBB stock opened at $338.08 on Friday. Hubbell Incorporated has a 52-week low of $330.32 and a 52-week high of $481.35. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. The company has a 50-day simple moving average of $388.41 and a two-hundred day simple moving average of $419.73. The company has a market capitalization of $18.14 billion, a price-to-earnings ratio of 23.54, a PEG ratio of 1.34 and a beta of 0.95.

Hubbell (NYSE:HUBB) last released its 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. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the company earned $3.69 earnings per share. Research analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date was Friday, February 28th. Hubbell’s payout ratio is 36.77%.

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

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the business’s stock in a transaction dated 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 in the company, valued at $1,683,462.62. The trade was a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.78% 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.