United Capital Financial Advisors LLC Raises Holdings in Hubbell Incorporated (NYSE:HUBB)

United Capital Financial Advisors LLC boosted its stake in Hubbell Incorporated (NYSE:HUBB) by 11.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 566 shares of the industrial products company’s stock after purchasing an additional 60 shares during the period. United Capital Financial Advisors LLC’s holdings in Hubbell were worth $237,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Creative Financial Designs Inc. ADV increased its stake in shares of Hubbell by 85.7% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock worth $27,000 after buying an additional 30 shares during the period. Stonebridge Financial Group LLC bought a new position in shares of Hubbell during the fourth quarter valued at about $30,000. Versant Capital Management Inc boosted its holdings in shares of Hubbell by 64.6% during the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 31 shares during the period. Venturi Wealth Management LLC grew its stake in shares of Hubbell by 69.7% in the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 53 shares during the last quarter. Finally, Golden State Wealth Management LLC purchased a new position in Hubbell during the 4th quarter valued at about $69,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Hubbell Price Performance

Shares of HUBB opened at $329.12 on Tuesday. The firm’s 50-day simple moving average is $349.85 and its two-hundred day simple moving average is $408.12. Hubbell Incorporated has a fifty-two week low of $299.43 and a fifty-two week high of $481.35. The stock has a market cap of $17.66 billion, a PE ratio of 22.92, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, topping the consensus estimate of $4.02 by $0.08. The company had revenue of $1.33 billion for 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 firm’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.69 EPS. Analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were given a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.60%. The ex-dividend date was Friday, February 28th. Hubbell’s dividend payout ratio (DPR) is 36.77%.

Hubbell declared that its board has authorized a stock buyback program on Wednesday, February 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the industrial products company to buy up to 2.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Hubbell

In related 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 $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is owned by company insiders.

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.