North Forty Two & Co. Acquires New Position in Hubbell Incorporated (NYSE:HUBB)

North Forty Two & Co. acquired a new stake in shares of Hubbell Incorporated (NYSE:HUBB) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 582 shares of the industrial products company’s stock, valued at approximately $244,000.

Other institutional investors have also modified their holdings of the company. Xponance Inc. grew its position in Hubbell by 8.1% in the 4th quarter. Xponance Inc. now owns 7,949 shares of the industrial products company’s stock worth $3,330,000 after purchasing an additional 599 shares during the last quarter. Generali Asset Management SPA SGR bought a new position in shares of Hubbell in the fourth quarter valued at approximately $2,970,000. Thrivent Financial for Lutherans boosted its holdings in shares of Hubbell by 32.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 11,094 shares of the industrial products company’s stock valued at $4,948,000 after acquiring an additional 2,713 shares in the last quarter. Cibc World Markets Corp boosted its holdings in shares of Hubbell by 16.1% in the fourth quarter. Cibc World Markets Corp now owns 8,498 shares of the industrial products company’s stock valued at $3,560,000 after acquiring an additional 1,180 shares in the last quarter. Finally, Creative Financial Designs Inc. ADV boosted its holdings 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 valued at $27,000 after acquiring an additional 30 shares in the last quarter. Institutional investors own 88.16% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on HUBB. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and cut their target price for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Wells Fargo & Company cut their target price on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Finally, Barclays cut their target price on shares of Hubbell from $475.00 to $422.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. Five equities research 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 price target of $464.88.

Hubbell Stock Down 2.4 %

Shares of NYSE:HUBB opened at $335.96 on Wednesday. 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 company has a market cap of $18.03 billion, a PE ratio of 23.40, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. Hubbell Incorporated has a 52 week low of $330.32 and a 52 week high of $481.35. The firm has a 50 day simple moving average of $393.80 and a 200 day simple moving average of $420.99.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 EPS for the quarter, beating the consensus estimate of $4.02 by $0.08. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The firm’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.69 EPS. As a group, research analysts expect that Hubbell Incorporated will post 17.63 earnings per share for the current year.

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 paid a $1.32 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $5.28 annualized dividend and a yield of 1.57%. Hubbell’s dividend payout ratio is presently 36.77%.

Hubbell declared that its board has authorized a stock buyback plan 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 buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total value of $452,865.84. Following the transaction, the insider now owns 4,327 shares in the company, valued at approximately $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. Company insiders own 0.78% of the company’s stock.

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.