Ausdal Financial Partners Inc. Purchases New Shares in Hubbell Incorporated (NYSE:HUBB)

Ausdal Financial Partners Inc. acquired a new position in Hubbell Incorporated (NYSE:HUBB) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,482 shares of the industrial products company’s stock, valued at approximately $621,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cerity Partners LLC grew its holdings in shares of Hubbell by 54.1% in the third quarter. Cerity Partners LLC now owns 9,326 shares of the industrial products company’s stock valued at $3,995,000 after acquiring an additional 3,273 shares in the last quarter. DRW Securities LLC purchased a new position in Hubbell in the third quarter worth $206,000. Brooklyn Investment Group bought a new position in Hubbell in the 3rd quarter valued at $133,000. Avestar Capital LLC increased its position in shares of Hubbell by 5.1% during the 3rd quarter. Avestar Capital LLC now owns 577 shares of the industrial products company’s stock valued at $247,000 after purchasing an additional 28 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Hubbell by 8.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 64,897 shares of the industrial products company’s stock valued at $27,799,000 after purchasing an additional 5,214 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on HUBB shares. StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Wednesday. Wells Fargo & Company dropped their target price on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Finally, Barclays decreased their price target 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. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $462.13.

Hubbell Stock Performance

NYSE HUBB opened at $342.04 on Friday. The company’s 50 day moving average is $382.09 and its 200-day moving average is $418.74. The firm has a market cap of $18.36 billion, a P/E ratio of 23.82, a price-to-earnings-growth ratio of 1.34 and a beta of 0.94. Hubbell Incorporated has a 12-month low of $330.32 and a 12-month high of $481.35. 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 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 business 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 business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.69 EPS. Sell-side analysts predict that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend was Friday, February 28th. Hubbell’s dividend payout ratio is presently 36.77%.

Hubbell declared that its board has approved a stock buyback program on Wednesday, February 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the industrial products company to purchase up to 2.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, insider Alyssa R. Flynn sold 1,164 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total transaction of $452,865.84. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company 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.