Ossiam Buys 753 Shares of Hubbell Incorporated (NYSE:HUBB)

Ossiam boosted its position in Hubbell Incorporated (NYSE:HUBB) by 23.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,912 shares of the industrial products company’s stock after acquiring an additional 753 shares during the quarter. Ossiam’s holdings in Hubbell were worth $1,639,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Hubbell by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 6,634,705 shares of the industrial products company’s stock worth $2,779,212,000 after purchasing an additional 65,033 shares during the period. Bank of New York Mellon Corp raised its holdings in Hubbell by 4.8% during the fourth quarter. Bank of New York Mellon Corp now owns 2,826,327 shares of the industrial products company’s stock worth $1,183,920,000 after buying an additional 129,490 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Hubbell by 6.6% in the fourth 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 buying an additional 92,954 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Hubbell by 1.9% during the fourth quarter. Invesco Ltd. now owns 1,490,479 shares of the industrial products company’s stock valued at $624,347,000 after buying an additional 27,914 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Hubbell by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 1,284,506 shares of the industrial products company’s stock worth $536,641,000 after acquiring an additional 29,601 shares in the last quarter. Institutional investors own 88.16% of the company’s stock.

Hubbell Price Performance

HUBB opened at $338.36 on Monday. Hubbell Incorporated has a fifty-two week low of $299.43 and a fifty-two week high of $481.35. The firm has a 50-day moving average of $351.09 and a 200 day moving average of $408.82. 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 firm has a market cap of $18.16 billion, a P/E ratio of 23.56, 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 (EPS) for the quarter, topping analysts’ consensus estimates of $4.02 by $0.08. The business had revenue of $1.33 billion during 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 business’s revenue for the quarter was down .9% on a year-over-year basis. During the same period last year, the business posted $3.69 earnings per share. On average, research analysts expect that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell announced that its Board of Directors has initiated a share repurchase program 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 purchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Hubbell Dividend Announcement

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

Insider Activity

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total transaction of $452,865.84. Following the sale, the insider now owns 4,327 shares in the company, valued at $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 SEC, which is available at this link. Insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on HUBB. JPMorgan Chase & Co. dropped their price target on shares of Hubbell from $430.00 to $352.00 and set a “neutral” rating on the stock in a research 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 dropped their price objective on Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. Finally, Wells Fargo & Company reduced 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 note on Tuesday, January 7th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average 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.