Guggenheim Capital LLC Boosts Stake in Hubbell Incorporated (NYSE:HUBB)

Guggenheim Capital LLC grew its position in shares of Hubbell Incorporated (NYSE:HUBB) by 13.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,332 shares of the industrial products company’s stock after acquiring an additional 1,080 shares during the quarter. Guggenheim Capital LLC’s holdings in Hubbell were worth $3,909,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Norges Bank purchased a new position in Hubbell in the fourth quarter valued at approximately $195,218,000. Raymond James Financial Inc. acquired a new stake in shares of Hubbell in the fourth quarter worth $63,647,000. Bank of New York Mellon Corp raised its stake in shares of Hubbell by 4.8% in the 4th quarter. Bank of New York Mellon Corp now owns 2,826,327 shares of the industrial products company’s stock valued at $1,183,920,000 after acquiring an additional 129,490 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Hubbell during the 4th quarter valued at $40,533,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Hubbell by 6.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,510,430 shares of the industrial products company’s stock valued at $632,704,000 after acquiring an additional 92,954 shares in the last quarter. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Activity at Hubbell

In related 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 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 $1,683,462.62. This represents a 21.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Hubbell Trading Down 0.1 %

HUBB opened at $338.36 on Friday. Hubbell Incorporated has a 12-month low of $299.43 and a 12-month high of $481.35. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. The stock has a market capitalization of $18.16 billion, a PE ratio of 23.56, a P/E/G ratio of 1.34 and a beta of 0.95. The firm’s fifty day moving average price is $351.09 and its 200 day moving average price is $409.07.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 EPS for the quarter, topping the consensus estimate 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 company’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the company posted $3.69 earnings per share. As a group, research analysts expect that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

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

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

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.