Nomura Asset Management Co. Ltd. Increases Stock Position in Hubbell Incorporated (NYSE:HUBB)

Nomura Asset Management Co. Ltd. raised its position in Hubbell Incorporated (NYSE:HUBB) by 230.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 52,830 shares of the industrial products company’s stock after purchasing an additional 36,829 shares during the period. Nomura Asset Management Co. Ltd. owned about 0.10% of Hubbell worth $22,130,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Creative Financial Designs Inc. ADV grew its position in Hubbell by 85.7% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 30 shares during the period. Stonebridge Financial Group LLC acquired a new position in shares of Hubbell in the 4th quarter worth approximately $30,000. Versant Capital Management Inc grew its position in shares of Hubbell by 64.6% during the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after buying an additional 31 shares during the last quarter. Venturi Wealth Management LLC grew its position in shares of 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 acquiring an additional 53 shares during the last quarter. Finally, Golden State Wealth Management LLC acquired a new stake in Hubbell in the 4th quarter valued at approximately $69,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Price Performance

Hubbell stock opened at $331.68 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. The firm has a market cap of $17.80 billion, a P/E ratio of 23.10, a P/E/G ratio of 1.34 and a beta of 0.94. The stock’s 50 day moving average is $379.97 and its 200 day moving average is $418.68. Hubbell Incorporated has a one year low of $330.32 and a one year high of $481.35.

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

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

Hubbell Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a $1.32 dividend. The ex-dividend date was Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a yield of 1.59%. Hubbell’s dividend payout ratio is presently 36.77%.

Insider Transactions at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell 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 sale, the insider now owns 4,327 shares of the company’s stock, valued at approximately $1,683,462.62. The trade was a 21.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

HUBB has been the subject of several recent research reports. Barclays cut their target price on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a research note on Wednesday. Wells Fargo & Company dropped their price target on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Finally, StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a report on Wednesday. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $462.13.

About Hubbell

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.