Amundi Acquires 10,316 Shares of Hubbell Incorporated (NYSE:HUBB)

Amundi grew its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 4.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 253,323 shares of the industrial products company’s stock after buying an additional 10,316 shares during the period. Amundi owned 0.47% of Hubbell worth $108,766,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of HUBB. Groupama Asset Managment boosted its holdings in shares of Hubbell by 17.0% during the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock valued at $30,000 after buying an additional 1,010 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of Hubbell in the 4th quarter worth about $30,000. Prospera Private Wealth LLC purchased a new position in shares of Hubbell in the 3rd quarter worth about $33,000. Versant Capital Management Inc raised its position in shares of Hubbell by 64.6% in the 4th 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 last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Hubbell in the 3rd quarter worth about $41,000. Institutional investors own 88.16% of the company’s stock.

Insider Transactions at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total value of $452,865.84. Following the transaction, the insider now owns 4,327 shares in the company, valued at $1,683,462.62. This represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.66% of the company’s stock.

Hubbell Price Performance

HUBB opened at $338.07 on Tuesday. 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 stock has a market capitalization of $18.14 billion, a P/E ratio of 23.54, a P/E/G ratio of 1.34 and a beta of 0.94. The company’s 50-day simple moving average is $404.49 and its two-hundred day simple moving average is $423.20. Hubbell Incorporated has a 52-week low of $337.21 and a 52-week high of $481.35.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.08. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the prior year, the business earned $3.69 EPS. The business’s revenue for the quarter was down .9% compared to the same quarter last year. As a group, analysts predict that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell declared that its Board of Directors has authorized a stock buyback program on Wednesday, February 12th that allows the company to repurchase $500.00 million in outstanding 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 often a sign that the company’s leadership believes its shares are undervalued.

Hubbell Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Friday, February 28th. Hubbell’s dividend payout ratio (DPR) is presently 36.77%.

Wall Street Analysts Forecast Growth

HUBB has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft lowered Hubbell from a “buy” rating to a “hold” rating and lowered their price target for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. Wells Fargo & Company lowered their price target 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. Barclays lowered their price target on Hubbell from $475.00 to $422.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. Finally, StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Hubbell presently has an average rating of “Hold” and an average price target of $464.88.

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.