Avestar Capital LLC Has $325,000 Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Avestar Capital LLC lifted its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 34.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 777 shares of the industrial products company’s stock after purchasing an additional 200 shares during the quarter. Avestar Capital LLC’s holdings in Hubbell were worth $325,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of HUBB. Mizuho Securities USA LLC grew its holdings in shares of Hubbell by 192,421.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock worth $3,418,233,000 after purchasing an additional 7,975,855 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Hubbell by 42,735.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock worth $8,223,740,000 after purchasing an additional 1,915,383 shares in the last quarter. Impax Asset Management Group plc grew its holdings in shares of Hubbell by 30.3% during the 3rd quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock worth $514,377,000 after purchasing an additional 279,654 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Hubbell by 268.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 231,130 shares of the industrial products company’s stock worth $99,005,000 after purchasing an additional 168,380 shares in the last quarter. Finally, LGT Capital Partners LTD. acquired a new stake in shares of Hubbell during the 3rd quarter worth $39,687,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Hubbell Price Performance

Hubbell stock opened at $389.93 on Friday. The company has a current ratio of 1.64, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $20.93 billion, a PE ratio of 27.15, a P/E/G ratio of 1.36 and a beta of 0.92. Hubbell Incorporated has a 12 month low of $346.13 and a 12 month high of $481.35. The stock has a 50-day moving average price of $427.95 and a two-hundred day moving average price of $423.00.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 EPS for the quarter, beating the consensus estimate of $4.02 by $0.08. The firm 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 quarterly revenue was down .9% on a year-over-year basis. During the same period last year, the company earned $3.69 earnings per share. Analysts expect that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell declared that its Board of Directors has initiated a share buyback program on Wednesday, February 12th that authorizes the company to buyback $500.00 million in 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 usually a sign that the company’s board of directors believes its shares are undervalued.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a dividend of $1.32 per share. The ex-dividend date is Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.35%. Hubbell’s dividend payout ratio (DPR) is 36.77%.

Wall Street Analysts Forecast Growth

HUBB has been the topic of several analyst reports. Morgan Stanley increased their target price on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Wells Fargo & Company dropped their price objective on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. StockNews.com downgraded Hubbell from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. Finally, Barclays upped their price objective on Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $471.50.

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.