Cibc World Markets Corp Acquires 1,180 Shares of Hubbell Incorporated (NYSE:HUBB)

Cibc World Markets Corp lifted its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 16.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 8,498 shares of the industrial products company’s stock after purchasing an additional 1,180 shares during the period. Cibc World Markets Corp’s holdings in Hubbell were worth $3,560,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in the company. Oppenheimer & Co. Inc. purchased a new stake in shares of Hubbell in the 3rd quarter worth about $255,000. Natixis Advisors LLC lifted its position in shares of Hubbell by 2.0% in the 3rd quarter. Natixis Advisors LLC now owns 22,445 shares of the industrial products company’s stock worth $9,614,000 after purchasing an additional 445 shares during the period. Thrivent Financial for Lutherans lifted its position in shares of Hubbell by 286.9% in the 3rd quarter. Thrivent Financial for Lutherans now owns 8,381 shares of the industrial products company’s stock worth $3,590,000 after purchasing an additional 6,215 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Hubbell in the 3rd quarter worth about $2,750,000. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Hubbell in the 3rd quarter worth about $33,000. Institutional investors own 88.16% of the company’s stock.

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $389.06, for a total transaction of $452,865.84. Following the completion of the sale, the insider now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.78% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on HUBB shares. Wells Fargo & Company dropped 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 report on Tuesday, January 7th. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a “buy” rating to a “hold” rating and lowered their price target for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. Finally, Barclays lowered their price target on shares of Hubbell from $475.00 to $422.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $464.88.

Hubbell Trading Down 0.7 %

Shares of NYSE HUBB opened at $339.76 on Friday. The stock has a market cap of $18.23 billion, a P/E ratio of 23.66, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. 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 1 year low of $330.32 and a 1 year high of $481.35. The firm has a 50-day moving average of $390.06 and a 200 day moving average of $419.88.

Hubbell (NYSE:HUBB) last released 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. 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%. Hubbell’s revenue was down .9% compared to the same quarter last year. During the same period last year, the business earned $3.69 EPS. As a group, sell-side analysts expect that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell announced that its Board of Directors has approved a share repurchase program on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a dividend of $1.32 per share. The ex-dividend date was Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a yield of 1.55%. Hubbell’s dividend payout ratio is currently 36.77%.

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.