Hubbell Incorporated (NYSE:HUBB) Stock Position Increased by Guggenheim Capital LLC

Guggenheim Capital LLC grew its position in Hubbell Incorporated (NYSE:HUBB) by 13.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,332 shares of the industrial products company’s stock after purchasing an additional 1,080 shares during the period. Guggenheim Capital LLC’s holdings in Hubbell were worth $3,909,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Salem Investment Counselors Inc. grew its holdings in Hubbell by 26.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 9,144 shares of the industrial products company’s stock worth $3,830,000 after buying an additional 1,886 shares in the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Hubbell by 122.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 28,723 shares of the industrial products company’s stock worth $12,032,000 after purchasing an additional 15,806 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of 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 purchasing an additional 15,215 shares during the period. Nordea Investment Management AB raised its stake in shares of Hubbell by 29.6% during the fourth quarter. Nordea Investment Management AB now owns 160,630 shares of the industrial products company’s stock valued at $67,503,000 after purchasing an additional 36,643 shares in the last quarter. Finally, SPX Gestao de Recursos Ltda bought a new position in Hubbell in the 3rd quarter valued at about $9,985,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Insider Activity

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 stock was 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, April 11th. Barclays cut their target price on Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. Wells Fargo & Company lowered their price target on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. decreased their target price on Hubbell from $430.00 to $352.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $449.38.

Hubbell Trading Down 0.1 %

NYSE:HUBB opened at $338.36 on Friday. The stock has a fifty day simple moving average of $351.09 and a 200 day simple moving average of $409.07. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $18.16 billion, a price-to-earnings ratio of 23.56, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. Hubbell Incorporated has a 1-year low of $299.43 and a 1-year high of $481.35.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, topping the consensus estimate of $4.02 by $0.08. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The business had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period last year, the firm posted $3.69 earnings per share. The firm’s quarterly revenue was down .9% compared to the same quarter last year. Sell-side analysts forecast that Hubbell Incorporated will post 17.63 earnings per share for the current year.

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

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a $1.32 dividend. The ex-dividend date was Friday, February 28th. This represents a $5.28 annualized dividend and a dividend yield of 1.56%. Hubbell’s dividend payout ratio (DPR) is presently 36.77%.

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.