Hubbell Incorporated (NYSE:HUBB) Shares Bought by Curi RMB Capital LLC

Curi RMB Capital LLC lifted its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 21.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 26,937 shares of the industrial products company’s stock after acquiring an additional 4,703 shares during the period. Curi RMB Capital LLC’s holdings in Hubbell were worth $11,284,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. M&T Bank Corp raised its stake in Hubbell by 0.5% in the 3rd quarter. M&T Bank Corp now owns 26,242 shares of the industrial products company’s stock worth $11,241,000 after acquiring an additional 124 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Hubbell in the third quarter worth about $247,000. Tidal Investments LLC lifted its holdings in shares of Hubbell by 8.5% during the third quarter. Tidal Investments LLC now owns 2,358 shares of the industrial products company’s stock worth $1,010,000 after purchasing an additional 184 shares during the period. Franklin Resources Inc. boosted its position in Hubbell by 32.7% in the third quarter. Franklin Resources Inc. now owns 99,405 shares of the industrial products company’s stock valued at $45,776,000 after buying an additional 24,486 shares during the last quarter. Finally, Oddo BHF Asset Management Sas acquired a new position in Hubbell in the 3rd quarter worth approximately $413,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Stock Down 0.1 %

Shares of HUBB opened at $338.36 on Friday. The firm has a market cap of $18.16 billion, a P/E ratio of 23.56, a PEG ratio of 1.34 and a beta of 0.95. Hubbell Incorporated has a 12 month low of $299.43 and a 12 month high of $481.35. The stock’s 50 day moving average is $351.09 and its two-hundred day moving average is $408.94. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44.

Hubbell (NYSE:HUBB) last released 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. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the company earned $3.69 EPS. Analysts predict that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were given a dividend of $1.32 per share. The ex-dividend date was Friday, February 28th. This represents a $5.28 annualized dividend and a dividend yield of 1.56%. Hubbell’s dividend payout ratio (DPR) is presently 36.77%.

Hubbell announced that its Board of Directors has approved a share buyback plan on Wednesday, February 12th that allows the company to repurchase $500.00 million in 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 typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

HUBB has been the topic of several recent research reports. Barclays dropped their price objective on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 26th. Wells Fargo & Company reduced their price objective on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. StockNews.com downgraded Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, April 11th. Finally, JPMorgan Chase & Co. reduced their price target on Hubbell from $430.00 to $352.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Hubbell presently has an average rating of “Hold” and a consensus price target of $449.38.

Insider Activity at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was 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 directly owns 4,327 shares in the company, valued at approximately $1,683,462.62. The trade was a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is currently owned by corporate insiders.

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.