Pacific Point Advisors LLC Takes Position in Hubbell Incorporated (NYSE:HUBB)

Pacific Point Advisors LLC purchased a new position in shares of Hubbell Incorporated (NYSE:HUBB) during the fourth quarter, HoldingsChannel reports. The fund purchased 11,204 shares of the industrial products company’s stock, valued at approximately $4,492,000. Hubbell comprises 2.8% of Pacific Point Advisors LLC’s investment portfolio, making the stock its 5th biggest position.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. MassMutual Private Wealth & Trust FSB grew its holdings in shares of Hubbell by 12.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company’s stock worth $96,000 after purchasing an additional 25 shares in the last quarter. Huntington National Bank grew its holdings in shares of Hubbell by 3.0% during 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 during the last quarter. Nissay Asset Management Corp Japan ADV increased its position in Hubbell by 0.4% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 6,515 shares of the industrial products company’s stock worth $2,757,000 after purchasing an additional 26 shares in the last quarter. Sanctuary Advisors LLC increased its position in Hubbell by 0.5% during the 4th quarter. Sanctuary Advisors LLC now owns 5,422 shares of the industrial products company’s stock worth $2,313,000 after purchasing an additional 27 shares in the last quarter. Finally, Mindset Wealth Management LLC lifted its stake in 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 during the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Insider Activity at Hubbell

In other Hubbell news, CEO Gerben Bakker sold 7,723 shares of the business’s stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $384.63, for a total value of $2,970,497.49. Following the sale, the chief executive officer now directly owns 82,101 shares in the company, valued at $31,578,507.63. The trade was a 8.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.66% of the stock is currently owned by company insiders.

Hubbell Stock Performance

NYSE:HUBB opened at $389.37 on Friday. 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 firm has a market capitalization of $20.78 billion, a P/E ratio of 27.11, a P/E/G ratio of 1.34 and a beta of 0.97. The company has a fifty day moving average of $351.04 and a 200-day moving average of $396.17.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Thursday, May 1st. The industrial products company reported $3.50 earnings per share (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 net margin of 13.82% and a return on equity of 28.62%. Hubbell’s revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.60 EPS. As a group, sell-side analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell declared that its Board of Directors has authorized 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 buy up to 2.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Hubbell Announces Dividend

The firm 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. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend is Friday, May 30th. Hubbell’s payout ratio is 35.72%.

Analysts Set New Price Targets

A number of analysts have weighed in on HUBB shares. Wall Street Zen cut shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, April 11th. JPMorgan Chase & Co. raised their price objective on Hubbell from $352.00 to $417.00 and gave the company a “neutral” rating in a report on Friday, May 16th. Finally, Barclays lowered their target price on Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from 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.