Cetera Investment Advisers Acquires 1,635 Shares of Hubbell Incorporated (NYSE:HUBB)

Cetera Investment Advisers boosted its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 23.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,658 shares of the industrial products company’s stock after purchasing an additional 1,635 shares during the period. Cetera Investment Advisers’ holdings in Hubbell were worth $3,627,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Centiva Capital LP acquired a new position in shares of Hubbell in the 4th quarter worth approximately $536,000. BOKF NA grew its position in Hubbell by 300,200.0% in the fourth quarter. BOKF NA now owns 3,003 shares of the industrial products company’s stock valued at $1,262,000 after acquiring an additional 3,002 shares during the period. Captrust Financial Advisors raised its stake in Hubbell by 20.0% during the fourth quarter. Captrust Financial Advisors now owns 4,743 shares of the industrial products company’s stock worth $1,987,000 after acquiring an additional 792 shares in the last quarter. Bain Capital Public Equity Management II LLC bought a new position in shares of Hubbell during the fourth quarter valued at $95,868,000. Finally, Bain Capital Public Equity LP bought a new position in shares of Hubbell during the fourth quarter valued at $3,930,000. Institutional investors own 88.16% of the company’s stock.

Hubbell Price Performance

NYSE HUBB opened at $386.64 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. Hubbell Incorporated has a 52-week low of $299.43 and a 52-week high of $481.35. The business has a 50 day simple moving average of $346.02 and a 200 day simple moving average of $397.58. The stock has a market cap of $20.64 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 1.34 and a beta of 0.97.

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

Hubbell announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the industrial products company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued 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 1.37%. Hubbell’s dividend payout ratio (DPR) is 35.72%.

Insider Transactions at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total value of $452,865.84. Following the sale, the insider now directly owns 4,327 shares in the company, valued at $1,683,462.62. This trade represents a 21.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HUBB. JPMorgan Chase & Co. dropped their target price on shares of Hubbell from $430.00 to $352.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Barclays dropped their price objective on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. Finally, StockNews.com downgraded Hubbell from a “buy” rating to a “hold” rating in a report on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Hubbell presently has an average rating of “Hold” and a consensus target price of $449.38.

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.