Proficio Capital Partners LLC Purchases New Shares in Hubbell Incorporated (NYSE:HUBB)

Proficio Capital Partners LLC purchased a new stake in Hubbell Incorporated (NYSE:HUBB) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 96,764 shares of the industrial products company’s stock, valued at approximately $40,533,000. Proficio Capital Partners LLC owned approximately 0.18% of Hubbell as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Groupama Asset Managment boosted its holdings in Hubbell by 17.0% in the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 1,010 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in Hubbell in the fourth quarter valued at $30,000. Prospera Private Wealth LLC bought a new stake in Hubbell in the third quarter valued at $33,000. Versant Capital Management Inc boosted its holdings in shares of Hubbell by 64.6% during the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after buying an additional 31 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Hubbell during the 3rd quarter valued at $41,000. Institutional investors own 88.16% of the company’s stock.

Insiders Place Their Bets

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $389.06, for a total value of $452,865.84. Following the completion of the transaction, the insider now owns 4,327 shares of the company’s stock, valued at approximately $1,683,462.62. The trade was a 21.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.66% of the stock is owned by insiders.

Hubbell Stock Performance

Shares of Hubbell stock opened at $371.51 on Friday. The stock has a market cap of $19.94 billion, a price-to-earnings ratio of 25.87, a PEG ratio of 1.34 and a beta of 0.92. The firm’s 50-day moving average is $414.87 and its 200 day moving average is $423.67. Hubbell Incorporated has a 1 year low of $346.13 and a 1 year 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.

Hubbell (NYSE:HUBB) last announced its quarterly 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 company 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%. Hubbell’s revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.69 EPS. Sell-side analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell declared that its Board of Directors has authorized a share 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 reacquire up to 2.4% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date is Friday, February 28th. Hubbell’s dividend payout ratio (DPR) is 36.77%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Wells Fargo & Company dropped their target price on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Barclays boosted their target price on shares of Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Sanford C. Bernstein assumed coverage on shares of Hubbell in a report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a “buy” rating to a “hold” rating and dropped their target price for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Hubbell currently has a consensus rating of “Hold” and an average target price of $471.50.

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.