Mizuho Securities USA LLC Buys 1,606 Shares of Hubbell Incorporated (NYSE:HUBB)

Mizuho Securities USA LLC boosted its position in Hubbell Incorporated (NYSE:HUBB) by 46.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,087 shares of the industrial products company’s stock after acquiring an additional 1,606 shares during the quarter. Mizuho Securities USA LLC’s holdings in Hubbell were worth $2,131,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV increased its position in shares of Hubbell by 85.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 30 shares during the last quarter. Stonebridge Financial Group LLC purchased a new stake in Hubbell in the fourth quarter worth approximately $30,000. Versant Capital Management Inc grew its position in Hubbell by 64.6% during the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 31 shares during the last quarter. Venturi Wealth Management LLC raised its stake in shares of Hubbell by 69.7% during the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 53 shares in the last quarter. Finally, Golden State Wealth Management LLC purchased a new position in shares of Hubbell during the fourth quarter worth approximately $69,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insiders Place Their Bets

In other news, insider Alyssa R. Flynn sold 1,164 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $389.06, for a total value of $452,865.84. Following the sale, the insider now directly owns 4,327 shares of the company’s stock, valued at $1,683,462.62. This represents a 21.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.66% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on HUBB. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Wells Fargo & Company decreased their price objective on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Barclays lowered their target price on Hubbell from $475.00 to $422.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and decreased their price target for the stock from $493.00 to $473.00 in a research note on Tuesday, November 26th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Hubbell presently has a consensus rating of “Hold” and a consensus price target of $464.88.

Hubbell Price Performance

HUBB opened at $349.55 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 $18.76 billion, a PE ratio of 24.34, a price-to-earnings-growth ratio of 1.34 and a beta of 0.94. The stock’s 50 day moving average price is $387.00 and its 200-day moving average price is $419.90. Hubbell Incorporated has a 52-week low of $330.32 and a 52-week high of $481.35.

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, beating the consensus estimate 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 quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.69 earnings per share. On average, equities research analysts predict that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell announced 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 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 typically an indication that the company’s board believes its shares are undervalued.

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid a $1.32 dividend. The ex-dividend date was Friday, February 28th. This represents a $5.28 annualized dividend and a yield of 1.51%. Hubbell’s payout ratio is 36.77%.

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.