BHK Investment Advisors LLC Increases Stake in Hubbell Incorporated (NYSE:HUBB)

BHK Investment Advisors LLC increased its stake in Hubbell Incorporated (NYSE:HUBB) by 2.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,351 shares of the industrial products company’s stock after acquiring an additional 30 shares during the period. BHK Investment Advisors LLC’s holdings in Hubbell were worth $566,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Mizuho Securities USA LLC grew its stake in shares of Hubbell by 192,421.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock valued at $3,418,233,000 after buying an additional 7,975,855 shares during the period. State Street Corp increased its stake in Hubbell by 1.1% during the third quarter. State Street Corp now owns 2,092,215 shares of the industrial products company’s stock worth $896,200,000 after acquiring an additional 22,507 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Hubbell by 6.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,417,476 shares of the industrial products company’s stock worth $607,176,000 after acquiring an additional 82,258 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Hubbell by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,254,905 shares of the industrial products company’s stock worth $535,681,000 after purchasing an additional 8,278 shares during the period. Finally, Impax Asset Management Group plc grew its holdings in shares of Hubbell by 30.3% during the 3rd quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock worth $514,377,000 after purchasing an additional 279,654 shares during the period. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Hubbell Stock Down 2.5 %

Shares of Hubbell stock opened at $368.20 on Tuesday. Hubbell Incorporated has a 1-year low of $346.13 and a 1-year high of $481.35. The company has a market capitalization of $19.76 billion, a PE ratio of 25.64, a P/E/G ratio of 1.34 and a beta of 0.92. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. The business has a 50-day moving average of $418.28 and a 200-day moving average of $424.41.

Hubbell (NYSE:HUBB) last issued 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. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter last year, the firm earned $3.69 EPS. Hubbell’s quarterly revenue was down .9% on a year-over-year basis. As a group, equities analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a $1.32 dividend. The ex-dividend date is Friday, February 28th. This represents a $5.28 annualized dividend and a yield of 1.43%. Hubbell’s dividend payout ratio is presently 36.77%.

Hubbell announced that its Board of Directors has authorized a share buyback plan on Wednesday, February 12th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the industrial products company to purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

HUBB has been the topic of several research reports. Barclays raised their price target on shares of Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Morgan Stanley raised their target price on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Sanford C. Bernstein assumed coverage on Hubbell in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price objective on the stock. Finally, Wells Fargo & Company decreased their target price 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. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $471.50.

Insider Buying and Selling at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of the business’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 completion of the sale, the insider now directly owns 4,327 shares of the company’s stock, valued at $1,683,462.62. The trade was a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.66% of the stock is currently owned by insiders.

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.