NEOS Investment Management LLC Buys 1,615 Shares of Hubbell Incorporated (NYSE:HUBB)

NEOS Investment Management LLC increased its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 216.8% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,360 shares of the industrial products company’s stock after purchasing an additional 1,615 shares during the quarter. NEOS Investment Management LLC’s holdings in Hubbell were worth $989,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of HUBB. Creative Financial Designs Inc. ADV boosted its stake in shares of 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 purchasing an additional 30 shares during the period. Stonebridge Financial Group LLC bought a new stake in Hubbell during the 4th quarter valued at $30,000. Versant Capital Management Inc boosted its position in 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 period. Venturi Wealth Management LLC grew its holdings in 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 acquiring an additional 53 shares during the last quarter. Finally, Golden State Wealth Management LLC purchased a new position in shares of Hubbell in the fourth quarter valued at about $69,000. 88.16% of the stock is currently owned by institutional investors.

Hubbell Trading Down 3.0 %

HUBB opened at $331.68 on Friday. 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 52 week low of $330.32 and a 52 week high of $481.35. The stock has a market cap of $17.80 billion, a PE ratio of 23.10, a PEG ratio of 1.34 and a beta of 0.94. The business has a 50 day moving average of $379.97 and a 200-day moving average of $418.68.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 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 company’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.69 EPS. Equities research analysts predict that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a dividend of $1.32 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $5.28 annualized dividend and a dividend yield of 1.59%. Hubbell’s payout ratio is 36.77%.

Hubbell declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, February 12th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the industrial products company to repurchase up to 2.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

HUBB has been the subject of a number of analyst reports. Wells Fargo & Company dropped their target price on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Barclays lowered their price target on Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a research report on Wednesday. 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, the company currently has an average rating of “Hold” and an average target price of $462.13.

Insider Transactions at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell stock in a transaction 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 transaction, the insider now 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.66% of the company’s stock.

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.