Hartford Investment Management Co. Has $1.40 Million Stake in Hubbell Incorporated (NYSE:HUBB)

Hartford Investment Management Co. trimmed its holdings in Hubbell Incorporated (NYSE:HUBB) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,347 shares of the industrial products company’s stock after selling 64 shares during the period. Hartford Investment Management Co.’s holdings in Hubbell were worth $1,402,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Janney Montgomery Scott LLC lifted its holdings in Hubbell by 122.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 28,723 shares of the industrial products company’s stock worth $12,032,000 after purchasing an additional 15,806 shares during the last quarter. Salem Investment Counselors Inc. lifted its holdings in Hubbell by 26.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 9,144 shares of the industrial products company’s stock worth $3,830,000 after purchasing an additional 1,886 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Hubbell by 7.1% during the 3rd quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company’s stock worth $98,187,000 after purchasing an additional 15,215 shares during the last quarter. LGT Capital Partners LTD. acquired a new stake in Hubbell during the 3rd quarter worth approximately $39,687,000. Finally, Impax Asset Management Group plc increased its stake in 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 acquiring an additional 279,654 shares during the period. 88.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Sanford C. Bernstein assumed coverage on Hubbell in a research note on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price objective on the stock. Wells Fargo & Company lowered their price objective 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. Morgan Stanley raised their price objective on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Finally, Barclays raised their price objective on Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $471.50.

Hubbell Trading Down 0.8 %

Shares of HUBB opened at $389.93 on Friday. Hubbell Incorporated has a 52-week low of $346.13 and a 52-week high of $481.35. The business’s fifty day moving average is $427.95 and its 200-day moving average is $423.00. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.05 and a current ratio of 1.64. The firm has a market cap of $20.93 billion, a price-to-earnings ratio of 27.15, a PEG ratio of 1.36 and a beta of 0.92.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $4.02 by $0.08. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.41 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. Hubbell’s quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.69 EPS. Equities analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

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

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

Hubbell Company Profile

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.