Invesco Ltd. Has $624.35 Million Stock Position in Hubbell Incorporated (NYSE:HUBB)

Invesco Ltd. raised its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 1.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,490,479 shares of the industrial products company’s stock after acquiring an additional 27,914 shares during the quarter. Invesco Ltd. owned approximately 2.78% of Hubbell worth $624,347,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. 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 purchasing an additional 30 shares in the last quarter. Groupama Asset Managment lifted its stake 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 during the last quarter. Stonebridge Financial Group LLC bought a new position in shares of Hubbell in the 4th quarter valued at about $30,000. Versant Capital Management Inc increased its stake 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 worth $33,000 after purchasing an additional 31 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in Hubbell by 69.7% in the 4th 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 currently owned by institutional investors and hedge funds.

Hubbell Stock Performance

Shares of HUBB stock opened at $315.93 on Tuesday. 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 firm has a fifty day simple moving average of $365.78 and a two-hundred day simple moving average of $415.36. Hubbell Incorporated has a 12 month low of $299.43 and a 12 month high of $481.35. The firm has a market capitalization of $16.96 billion, a PE ratio of 22.00, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95.

Hubbell (NYSE:HUBB) last announced 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 return on equity of 28.62% and a net margin of 13.82%. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the previous year, the firm earned $3.69 earnings per share. Hubbell’s quarterly revenue was down .9% on a year-over-year basis. Analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

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

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.67%. The ex-dividend date was Friday, February 28th. Hubbell’s dividend payout ratio is 36.77%.

Insider Buying and Selling at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the firm’s stock in a transaction on 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 directly owns 4,327 shares of the company’s stock, valued at $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on HUBB. Wells Fargo & Company cut their price target on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a research note on Thursday, April 3rd. Finally, Barclays decreased their price target on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Hubbell presently has a consensus rating of “Hold” and an average target price of $462.13.

About Hubbell

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.