Candriam S.C.A. Purchases 236 Shares of Hubbell Incorporated (NYSE:HUBB)

Candriam S.C.A. raised its position in shares of Hubbell Incorporated (NYSE:HUBB) by 3.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,622 shares of the industrial products company’s stock after acquiring an additional 236 shares during the quarter. Candriam S.C.A.’s holdings in Hubbell were worth $3,193,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Salem Investment Counselors Inc. boosted its position in Hubbell by 26.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 9,144 shares of the industrial products company’s stock valued at $3,830,000 after acquiring an additional 1,886 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in Hubbell by 122.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 28,723 shares of the industrial products company’s stock valued at $12,032,000 after acquiring an additional 15,806 shares during the last quarter. Principal Financial Group Inc. boosted its position in Hubbell by 7.1% during the third quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company’s stock valued at $98,187,000 after acquiring an additional 15,215 shares during the last quarter. LGT Capital Partners LTD. bought a new stake in Hubbell during the third quarter valued at $39,687,000. Finally, Impax Asset Management Group plc boosted its position in Hubbell by 30.3% during the third quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock valued at $514,377,000 after acquiring an additional 279,654 shares during the last quarter. Institutional investors own 88.16% of the company’s stock.

Hubbell Trading Up 2.5 %

HUBB opened at $355.05 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. Hubbell Incorporated has a fifty-two week low of $337.97 and a fifty-two week high of $481.35. The firm has a market capitalization of $19.05 billion, a PE ratio of 24.73, a P/E/G ratio of 1.34 and a beta of 0.95. The company’s 50-day moving average is $406.11 and its 200 day moving average is $423.15.

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

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be paid a $1.32 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $5.28 annualized dividend and a yield of 1.49%. Hubbell’s dividend payout ratio (DPR) is 36.77%.

Hubbell announced that its board has approved a stock 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 reacquire 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 stock is undervalued.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Barclays cut their price target on shares of Hubbell from $475.00 to $422.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and dropped their price objective for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Wells Fargo & Company dropped their price objective on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Finally, StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $464.88.

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction dated Thursday, February 20th. The shares were 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 owns 4,327 shares in the company, valued at approximately $1,683,462.62. This trade represents a 21.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.66% of the company’s stock.

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.