Marshall Wace LLP Purchases 247,786 Shares of Hubbell Incorporated (NYSE:HUBB)

Marshall Wace LLP increased its position in shares of Hubbell Incorporated (NYSE:HUBB) by 418.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 307,050 shares of the industrial products company’s stock after buying an additional 247,786 shares during the period. Marshall Wace LLP’s holdings in Hubbell were worth $128,620,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Creative Financial Designs Inc. ADV lifted its position in Hubbell by 85.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 30 shares during the last quarter. Stonebridge Financial Group LLC acquired a new position in shares of Hubbell during the 4th quarter worth about $30,000. Versant Capital Management Inc boosted its stake 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 period. Venturi Wealth Management LLC grew its holdings in Hubbell by 69.7% in the 4th quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock valued at $54,000 after buying an additional 53 shares during the last quarter. Finally, Golden State Wealth Management LLC bought a new position in Hubbell in the 4th quarter worth approximately $69,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Stock Down 1.1 %

NYSE HUBB opened at $346.69 on Wednesday. Hubbell Incorporated has a 1-year low of $299.43 and a 1-year high of $481.35. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The stock’s 50 day moving average is $354.74 and its two-hundred day moving average is $410.80. The company has a market capitalization of $18.61 billion, a price-to-earnings ratio of 24.14, a PEG ratio of 1.34 and a beta of 0.95.

Hubbell (NYSE:HUBB) last announced 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. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The business’s revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the business posted $3.69 earnings per share. Equities analysts forecast that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell announced that its board has authorized a share buyback plan on Wednesday, February 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the industrial products company to repurchase up to 2.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.52%. The ex-dividend date was Friday, February 28th. Hubbell’s dividend payout ratio is currently 36.77%.

Insider Buying and Selling at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 4,327 shares of the company’s stock, valued at approximately $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on HUBB shares. JPMorgan Chase & Co. lowered their price objective on shares of Hubbell from $430.00 to $352.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Barclays dropped their price objective on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 26th. StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, April 11th. Finally, Wells Fargo & Company lowered their price target 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. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $449.38.

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.