Guidance Capital Inc. Takes Position in Hubbell Incorporated (NYSE:HUBB)

Guidance Capital Inc. bought a new position in Hubbell Incorporated (NYSE:HUBB) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm bought 1,918 shares of the industrial products company’s stock, valued at approximately $873,000.

Several other hedge funds have also added to or reduced their stakes in the business. Mizuho Securities USA LLC grew its holdings in Hubbell by 192,421.1% in the 3rd quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock worth $3,418,233,000 after acquiring an additional 7,975,855 shares during the last quarter. State Street Corp grew its stake in shares of Hubbell by 1.1% in the third quarter. State Street Corp now owns 2,092,215 shares of the industrial products company’s stock worth $896,200,000 after purchasing an additional 22,507 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Hubbell by 42,735.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock valued at $8,223,740,000 after purchasing an additional 1,915,383 shares during the period. Massachusetts Financial Services Co. MA raised its position in Hubbell by 6.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,417,476 shares of the industrial products company’s stock valued at $607,176,000 after purchasing an additional 82,258 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in 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 buying an additional 8,278 shares during the period. 88.16% of the stock is owned by institutional investors.

Hubbell Stock Performance

Shares of HUBB opened at $401.11 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. The stock has a market cap of $21.53 billion, a P/E ratio of 28.90, a P/E/G ratio of 1.45 and a beta of 0.92. The business’s 50 day moving average price is $437.00 and its 200-day moving average price is $422.35. Hubbell Incorporated has a 52 week low of $342.85 and a 52 week high of $481.35.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 EPS for the quarter, topping the consensus estimate of $4.02 by $0.08. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.41 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The company’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the company posted $3.69 earnings per share. Equities research analysts anticipate that Hubbell Incorporated will post 16.48 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Friday, February 28th. Hubbell’s payout ratio is 38.04%.

Insider Activity at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the transaction, the insider now owns 2,957 shares in the company, valued at approximately $1,378,553.40. This represents a 27.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.78% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on HUBB shares. JPMorgan Chase & Co. downgraded Hubbell from an “overweight” rating to a “neutral” rating and upped their target price for the company from $385.00 to $454.00 in a report on Thursday, October 10th. Mizuho raised their target price on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Wells Fargo & Company reduced their price target on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Morgan Stanley raised their price objective on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, Sanford C. Bernstein assumed coverage on Hubbell in a report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $471.50.

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.