Financiere des Professionnels Fonds d investissement inc. Has $7 Million Holdings in Hubbell Incorporated (NYSE:HUBB)

Financiere des Professionnels Fonds d investissement inc. cut its holdings in Hubbell Incorporated (NYSE:HUBB) by 1.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,701 shares of the industrial products company’s stock after selling 297 shares during the period. Financiere des Professionnels Fonds d investissement inc.’s holdings in Hubbell were worth $6,996,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Groupama Asset Managment grew its stake in Hubbell by 17.0% during the third 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 stake in Hubbell during the fourth quarter worth about $30,000. Prospera Private Wealth LLC acquired a new stake in Hubbell during the third quarter worth about $33,000. Versant Capital Management Inc grew its stake in Hubbell by 64.6% during the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after buying an additional 31 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in Hubbell during the third quarter worth about $41,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Stock Down 0.8 %

Shares of NYSE HUBB opened at $389.93 on Monday. The company has a 50 day simple moving average of $426.51 and a 200 day simple moving average of $423.65. The firm has a market cap of $20.93 billion, a PE ratio of 27.15, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92. Hubbell Incorporated has a 1 year low of $346.13 and a 1 year high of $481.35. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 1.05.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.02 by $0.08. The business had revenue of $1.33 billion during the quarter, compared to analyst estimates 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 last year, the business earned $3.69 EPS. On average, research analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current year.

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

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a dividend of $1.32 per share. The ex-dividend date is Friday, February 28th. This represents a $5.28 annualized dividend and a yield of 1.35%. Hubbell’s payout ratio is 36.77%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a “buy” rating to a “hold” rating and dropped their target price for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. StockNews.com cut shares of Hubbell from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th. Barclays increased their target price on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. Finally, Morgan Stanley increased their target price 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. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Hubbell has an average rating of “Hold” and an average target price of $471.50.

Hubbell Company 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.