Y Intercept Hong Kong Ltd Buys Shares of 2,697 Hubbell Incorporated (NYSE:HUBB)

Y Intercept Hong Kong Ltd bought a new stake in shares of Hubbell Incorporated (NYSE:HUBB) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,697 shares of the industrial products company’s stock, valued at approximately $1,130,000.

Several other large investors also recently modified their holdings of HUBB. Stonebridge Financial Group LLC bought a new position in Hubbell during the fourth quarter valued at $30,000. Prospera Private Wealth LLC purchased a new stake in Hubbell in the 3rd quarter worth about $33,000. Versant Capital Management Inc raised its stake in Hubbell by 64.6% in the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 31 shares during the period. Ashton Thomas Securities LLC purchased a new stake in Hubbell during the third quarter valued at about $41,000. Finally, Venturi Wealth Management LLC boosted its position in Hubbell by 69.7% during the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 53 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Analyst Ratings Changes

HUBB has been the topic of several research reports. Morgan Stanley boosted their price target on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Wells Fargo & Company dropped their target price 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. Sanford C. Bernstein assumed coverage on Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price target for the company. Deutsche Bank Aktiengesellschaft lowered Hubbell from a “buy” rating to a “hold” rating and decreased their price objective for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Finally, Barclays raised their target price on Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Hubbell presently has an average rating of “Hold” and an average target price of $471.50.

Hubbell Price Performance

NYSE:HUBB opened at $377.81 on Thursday. Hubbell Incorporated has a 52-week low of $346.13 and a 52-week high of $481.35. The stock has a fifty day moving average of $416.93 and a 200 day moving average of $424.37. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. The firm has a market capitalization of $20.28 billion, a price-to-earnings ratio of 26.31, a P/E/G ratio of 1.34 and a beta of 0.92.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.02 by $0.08. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter last year, the company posted $3.69 EPS. The company’s revenue for the quarter was down .9% on a year-over-year basis. On average, research analysts expect that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be paid a $1.32 dividend. The ex-dividend date is Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a yield of 1.40%. Hubbell’s dividend payout ratio is presently 36.77%.

Hubbell announced that its board has authorized a share buyback program on Wednesday, February 12th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the industrial products company to buy up to 2.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $389.06, for a total value of $452,865.84. Following the completion of the transaction, the insider now directly owns 4,327 shares in the company, 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. Insiders own 0.66% of the company’s stock.

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.