Franklin Resources Inc. Increases Holdings in Hubbell Incorporated (NYSE:HUBB)

Franklin Resources Inc. boosted its position in Hubbell Incorporated (NYSE:HUBB) by 10.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 109,760 shares of the industrial products company’s stock after purchasing an additional 10,355 shares during the period. Franklin Resources Inc. owned about 0.20% of Hubbell worth $45,977,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HUBB. Creative Financial Designs Inc. ADV raised its stake 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 worth $27,000 after buying an additional 30 shares during the last quarter. Groupama Asset Managment increased its holdings in 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 acquiring an additional 1,010 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in Hubbell during the fourth quarter worth about $30,000. Versant Capital Management Inc lifted its holdings in shares of Hubbell by 64.6% in the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 31 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its position in shares of Hubbell by 69.7% in the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 53 shares during the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Alyssa R. Flynn sold 1,164 shares of the firm’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 transaction, the insider now directly owns 4,327 shares in the company, valued at $1,683,462.62. This trade represents a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Barclays lowered their target price on Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 26th. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Wells Fargo & Company reduced 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. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $462.13.

Hubbell Stock Performance

NYSE HUBB opened at $315.69 on Friday. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $16.94 billion, a PE ratio of 21.98, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. The business’s 50-day moving average price is $367.74 and its 200 day moving average price is $416.03. Hubbell Incorporated has a twelve month low of $299.43 and a twelve month high of $481.35.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, topping 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 period last year, the company earned $3.69 earnings per share. The company’s quarterly revenue was down .9% on a year-over-year basis. On average, research analysts predict that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell announced that its board has initiated a stock repurchase program on Wednesday, February 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the industrial products company to purchase up to 2.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a dividend of $1.32 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.67%. 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.