Zacks Investment Management Buys 288 Shares of Hubbell Incorporated (NYSE:HUBB)

Zacks Investment Management lifted its stake in Hubbell Incorporated (NYSE:HUBB) by 2.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,873 shares of the industrial products company’s stock after buying an additional 288 shares during the period. Zacks Investment Management’s holdings in Hubbell were worth $4,555,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in HUBB. MassMutual Private Wealth & Trust FSB raised its stake in shares of Hubbell by 12.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company’s stock valued at $96,000 after buying an additional 25 shares in the last quarter. JGP Wealth Management LLC lifted its stake in Hubbell by 1.2% during the fourth quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company’s stock worth $884,000 after purchasing an additional 26 shares during the period. Huntington National Bank boosted its stake in Hubbell by 3.0% in the 4th quarter. Huntington National Bank now owns 886 shares of the industrial products company’s stock valued at $371,000 after buying an additional 26 shares in the last quarter. Sanctuary Advisors LLC grew its position in Hubbell by 0.5% in the fourth quarter. Sanctuary Advisors LLC now owns 5,422 shares of the industrial products company’s stock valued at $2,313,000 after acquiring an additional 27 shares during the period. Finally, Mindset Wealth Management LLC raised its stake in Hubbell by 1.7% during the fourth quarter. Mindset Wealth Management LLC now owns 1,655 shares of the industrial products company’s stock worth $693,000 after acquiring an additional 27 shares in the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of the firm’s 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 sale, the insider now 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.66% of the stock is currently owned by corporate insiders.

Hubbell Price Performance

HUBB opened at $338.36 on Friday. 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 stock has a market capitalization of $18.16 billion, a P/E ratio of 23.56, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. The company’s 50 day simple moving average is $352.27 and its 200-day simple moving average is $409.68. Hubbell Incorporated has a one year low of $299.43 and a one year high of $481.35.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 EPS for the quarter, beating 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 analysts’ expectations of $1.41 billion. During the same period last year, the firm earned $3.69 EPS. The business’s revenue for the quarter was down .9% on a year-over-year basis. Sell-side analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell announced that its Board of Directors has initiated a share buyback plan 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 buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are generally an indication 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. Shareholders of record on Friday, February 28th were given a dividend of $1.32 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a yield of 1.56%. Hubbell’s payout ratio is presently 36.77%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. reduced their target price on shares of Hubbell from $430.00 to $352.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 8th. Barclays reduced their price target on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a research report 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 decreased their price target on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $449.38.

Hubbell Company 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.