World Investment Advisors Invests $214,000 in Hubbell Incorporated (NYSE:HUBB)

World Investment Advisors bought a new position in Hubbell Incorporated (NYSE:HUBB) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 512 shares of the industrial products company’s stock, valued at approximately $214,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Creative Financial Designs Inc. ADV lifted its stake in shares of Hubbell by 85.7% in the fourth 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 lifted its position in Hubbell by 17.0% during the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock worth $30,000 after buying an additional 1,010 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in Hubbell during the 4th quarter valued at about $30,000. Versant Capital Management Inc lifted its position in 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 purchasing an additional 31 shares during the period. Finally, Venturi Wealth Management LLC raised its position in shares of 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 acquiring an additional 53 shares during the period. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Stock Performance

Shares of HUBB opened at $352.43 on Thursday. The company has a market cap of $18.91 billion, a PE ratio of 24.54, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. Hubbell Incorporated has a 12-month low of $299.43 and a 12-month high of $481.35. The stock has a 50-day moving average price of $358.96 and a 200-day moving average price of $412.97.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, beating 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 return on equity of 28.62% and a net margin of 13.82%. Hubbell’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period last year, the firm posted $3.69 EPS. As a group, equities analysts forecast that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell announced that its board has approved 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 shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.50%. The ex-dividend date was Friday, February 28th. Hubbell’s dividend payout ratio (DPR) is 36.77%.

Insiders Place Their Bets

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the business’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 sale, the insider now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

HUBB has been the subject of several research reports. JPMorgan Chase & Co. decreased their price target on shares of Hubbell from $430.00 to $352.00 and set a “neutral” rating for the company in a research note on Tuesday. Barclays dropped their target price on Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. Wells Fargo & Company decreased their target price on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Finally, StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a report on Thursday, April 3rd. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $449.38.

Hubbell 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.