Norinchukin Bank The Increases Holdings in Hubbell Incorporated (NYSE:HUBB)

Norinchukin Bank The increased its stake in Hubbell Incorporated (NYSE:HUBB) by 3.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,137 shares of the industrial products company’s stock after buying an additional 70 shares during the quarter. Norinchukin Bank The’s holdings in Hubbell were worth $895,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in HUBB. Creative Financial Designs Inc. ADV boosted its stake in Hubbell by 85.7% in 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 last quarter. Stonebridge Financial Group LLC bought a new position in Hubbell during the fourth quarter valued at $30,000. Versant Capital Management Inc increased its position in Hubbell by 64.6% in the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after buying an additional 31 shares during the last quarter. Venturi Wealth Management LLC lifted its position in shares of Hubbell by 69.7% during the 4th quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock valued at $54,000 after buying an additional 53 shares during the last quarter. Finally, Golden State Wealth Management LLC bought a new position in shares of Hubbell during the 4th quarter worth $69,000. Institutional investors own 88.16% of the company’s stock.

Hubbell Stock Performance

NYSE HUBB opened at $329.12 on Tuesday. The company has a market capitalization of $17.66 billion, a P/E ratio of 22.92, a P/E/G ratio of 1.34 and a beta of 0.95. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. Hubbell Incorporated has a 52-week low of $299.43 and a 52-week high of $481.35. The company has a fifty day moving average of $349.85 and a 200-day moving average of $408.12.

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

Hubbell declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 12th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the industrial products company to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.60%. The ex-dividend date of this dividend was Friday, February 28th. Hubbell’s dividend payout ratio is currently 36.77%.

Insider Buying and Selling

In other news, insider Alyssa R. Flynn sold 1,164 shares of the business’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 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.66% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on HUBB. JPMorgan Chase & Co. dropped their price objective on shares of Hubbell from $430.00 to $352.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Barclays lowered their target price 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 decreased their price objective on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Finally, StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a report on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Hubbell has an average rating of “Hold” and a consensus price target of $449.38.

Hubbell 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.