Townsquare Capital LLC Invests $1.13 Million in Hubbell Incorporated (NYSE:HUBB)

Townsquare Capital LLC acquired a new position in shares of Hubbell Incorporated (NYSE:HUBB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,694 shares of the industrial products company’s stock, valued at approximately $1,128,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. M&T Bank Corp lifted 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 valued at $11,241,000 after buying an additional 124 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Hubbell during the 3rd quarter worth about $247,000. Tidal Investments LLC grew 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 buying an additional 184 shares in the last quarter. Franklin Resources Inc. raised its position in shares of 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 purchased a new position in shares of Hubbell during the third quarter valued at approximately $413,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on HUBB. JPMorgan Chase & Co. lowered their target price 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. Barclays decreased their price target on Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a report on Friday, April 11th. Finally, Wells Fargo & Company dropped their price target on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $449.38.

Hubbell Stock Performance

Shares of HUBB stock opened at $338.36 on Friday. The company’s fifty day simple moving average is $352.27 and its 200-day simple moving average is $409.68. 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 Incorporated has a 52 week low of $299.43 and a 52 week high of $481.35. The company has a market cap of $18.16 billion, a PE ratio of 23.56, a P/E/G ratio of 1.34 and a beta of 0.95.

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

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a $1.32 dividend. 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 has initiated a stock repurchase program on Wednesday, February 12th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the industrial products company to repurchase up to 2.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the business’s stock in a transaction 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 in the company, valued at $1,683,462.62. The trade was a 21.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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.