Johnson Financial Group Inc. Has $44,000 Stock Position in Hubbell Incorporated (NYSE:HUBB)

Johnson Financial Group Inc. grew its position in Hubbell Incorporated (NYSE:HUBB) by 166.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 104 shares of the industrial products company’s stock after buying an additional 65 shares during the period. Johnson Financial Group Inc.’s holdings in Hubbell were worth $44,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HUBB. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Hubbell during the fourth quarter worth $11,418,000. Virtus ETF Advisers LLC lifted its position in Hubbell by 6.3% in the 4th quarter. Virtus ETF Advisers LLC now owns 2,564 shares of the industrial products company’s stock valued at $1,074,000 after acquiring an additional 152 shares in the last quarter. Kovitz Investment Group Partners LLC acquired a new position in Hubbell in the 4th quarter worth $253,000. Keyvantage Wealth LLC acquired a new position in Hubbell in the 4th quarter worth $203,000. Finally, Hood River Capital Management LLC acquired a new stake in shares of Hubbell in the 4th quarter valued at about $8,320,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on HUBB. Barclays decreased their price objective on Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. JPMorgan Chase & Co. decreased their price target on shares of Hubbell from $430.00 to $352.00 and set a “neutral” rating for the company in a research note on Tuesday, April 8th. StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, April 11th. Finally, Wells Fargo & Company lowered 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 note on Tuesday, January 7th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $449.38.

Hubbell Stock Up 0.4 %

Hubbell stock opened at $359.50 on Wednesday. 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 capitalization of $19.29 billion, a PE ratio of 25.04, a P/E/G ratio of 1.34 and a beta of 0.95. Hubbell Incorporated has a fifty-two week low of $299.43 and a fifty-two week high of $481.35. The company’s 50-day moving average is $345.39 and its 200-day moving average is $404.57.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data 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. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The business’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period last year, the business posted $3.69 earnings per share. Sell-side analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be given a $1.32 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.47%. Hubbell’s payout ratio is presently 36.77%.

Hubbell declared that its board has approved a share buyback program on Wednesday, February 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Alyssa R. Flynn sold 1,164 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total transaction of $452,865.84. Following the transaction, the insider now directly owns 4,327 shares of the company’s stock, valued at approximately $1,683,462.62. This trade represents 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 this hyperlink. Corporate insiders own 0.66% of the company’s stock.

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.