Hubbell Incorporated (NYSE:HUBB) Shares Bought by Rafferty Asset Management LLC

Rafferty Asset Management LLC boosted its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 4.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,466 shares of the industrial products company’s stock after purchasing an additional 251 shares during the period. Rafferty Asset Management LLC’s holdings in Hubbell were worth $2,290,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in HUBB. Park Avenue Securities LLC lifted its position in Hubbell by 20.7% during the fourth quarter. Park Avenue Securities LLC now owns 2,583 shares of the industrial products company’s stock valued at $1,082,000 after purchasing an additional 443 shares during the period. HB Wealth Management LLC raised its position in shares of Hubbell by 16.3% in the fourth quarter. HB Wealth Management LLC now owns 786 shares of the industrial products company’s stock worth $329,000 after acquiring an additional 110 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in shares of Hubbell by 12.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company’s stock worth $96,000 after acquiring an additional 25 shares during the period. Ballentine Partners LLC raised its position in shares of Hubbell by 4.1% in the fourth quarter. Ballentine Partners LLC now owns 995 shares of the industrial products company’s stock worth $417,000 after acquiring an additional 39 shares during the period. Finally, Nisa Investment Advisors LLC raised its position in shares of Hubbell by 2.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,752 shares of the industrial products company’s stock worth $2,409,000 after acquiring an additional 151 shares during the period. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of the company’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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gerben Bakker sold 7,723 shares of the company’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $384.63, for a total transaction of $2,970,497.49. Following the sale, the chief executive officer now directly owns 82,101 shares of the company’s stock, valued at approximately $31,578,507.63. This represents a 8.60% decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

Hubbell Stock Down 0.4%

HUBB opened at $390.52 on Tuesday. Hubbell Incorporated has a twelve month low of $299.43 and a twelve month high of $481.35. 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 company has a 50-day moving average price of $348.16 and a 200 day moving average price of $396.56. The company has a market cap of $20.84 billion, a PE ratio of 27.19, a price-to-earnings-growth ratio of 1.34 and a beta of 0.97.

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

Hubbell announced that its board has authorized a stock repurchase 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 shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Hubbell Announces Dividend

The business 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 dividend of $1.32 per share. The ex-dividend date is Friday, May 30th. This represents a $5.28 annualized dividend and a dividend yield of 1.35%. Hubbell’s dividend payout ratio (DPR) is presently 35.72%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on HUBB. StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, April 11th. Barclays decreased their price objective on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Hubbell from $352.00 to $417.00 and gave the stock a “neutral” rating in a research report on Friday. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $457.50.

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.