Commerce Bank Has $1.58 Million Position in Hubbell Incorporated (NYSE:HUBB)

Commerce Bank increased its holdings in Hubbell Incorporated (NYSE:HUBB) by 3.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,759 shares of the industrial products company’s stock after purchasing an additional 122 shares during the period. Commerce Bank’s holdings in Hubbell were worth $1,575,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Creative Financial Designs Inc. ADV boosted its stake in Hubbell by 85.7% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock valued at $27,000 after buying an additional 30 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in shares of Hubbell during the fourth quarter valued at $30,000. Versant Capital Management Inc boosted its stake in shares of 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 purchasing an additional 31 shares in the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Hubbell by 69.7% in the 4th 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 last quarter. Finally, Golden State Wealth Management LLC bought a new stake in shares of Hubbell in the 4th quarter worth about $69,000. Institutional investors own 88.16% of the company’s stock.

Insiders Place Their Bets

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total value of $452,865.84. Following the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on HUBB. StockNews.com cut shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, April 11th. JPMorgan Chase & Co. cut their price objective on Hubbell from $430.00 to $352.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company lowered their target price 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. Finally, Barclays decreased 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. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $449.38.

Hubbell Stock Down 2.9 %

NYSE:HUBB opened at $329.12 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. Hubbell Incorporated has a 12-month low of $299.43 and a 12-month high of $481.35. The stock’s fifty day simple moving average is $349.85 and its 200-day simple moving average is $408.12. The firm 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.

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 return on equity of 28.62% and a net margin of 13.82%. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period in the previous year, the company earned $3.69 EPS. The company’s revenue for the quarter was down .9% compared to the same quarter last year. Equities research analysts expect that Hubbell Incorporated will post 17.63 earnings per share for the current year.

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

Hubbell Announces Dividend

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

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.