Hudson Bay Capital Management LP Grows Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Hudson Bay Capital Management LP grew its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 80.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,003 shares of the industrial products company’s stock after buying an additional 12,003 shares during the quarter. Hudson Bay Capital Management LP owned 0.05% of Hubbell worth $11,311,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. MassMutual Private Wealth & Trust FSB increased its holdings in Hubbell by 12.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company’s stock valued at $96,000 after buying an additional 25 shares during the period. JGP Wealth Management LLC boosted its stake in shares of Hubbell by 1.2% in the 4th quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company’s stock valued at $884,000 after purchasing an additional 26 shares in the last quarter. Huntington National Bank boosted its stake in shares of Hubbell by 3.0% in the 4th quarter. Huntington National Bank now owns 886 shares of the industrial products company’s stock valued at $371,000 after purchasing an additional 26 shares in the last quarter. Sanctuary Advisors LLC boosted its stake in shares of Hubbell by 0.5% in the 4th quarter. Sanctuary Advisors LLC now owns 5,422 shares of the industrial products company’s stock valued at $2,313,000 after purchasing an additional 27 shares in the last quarter. Finally, Mindset Wealth Management LLC boosted its stake in shares of Hubbell by 1.7% in the 4th quarter. Mindset Wealth Management LLC now owns 1,655 shares of the industrial products company’s stock valued at $693,000 after purchasing an additional 27 shares in the last quarter. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $1,683,462.62. This 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 link. 0.66% of the stock is owned by company insiders.

Hubbell Stock Performance

Shares of NYSE:HUBB opened at $356.66 on Monday. The company has a market capitalization of $19.14 billion, a price-to-earnings ratio of 24.84, a P/E/G ratio of 1.34 and a beta of 0.97. The firm’s 50 day simple moving average is $343.12 and its 200 day simple moving average is $398.64. 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 $299.43 and a fifty-two week high of $481.35.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $3.50 earnings per share for the quarter, missing analysts’ consensus estimates of $3.73 by ($0.23). The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.39 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The business’s revenue was down 2.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.60 earnings per share. As a group, sell-side analysts forecast that Hubbell Incorporated will post 17.63 earnings per share for the current year.

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

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a $1.32 dividend. The ex-dividend date is Friday, May 30th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.48%. Hubbell’s dividend payout ratio is 35.72%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on HUBB shares. StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, April 11th. Barclays reduced their price target on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. cut their target price on shares of Hubbell from $430.00 to $352.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 8th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Hubbell presently has a consensus rating of “Hold” and a consensus price target of $449.38.

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.