672 Shares in Hubbell Incorporated (NYSE:HUBB) Bought by MONECO Advisors LLC

MONECO Advisors LLC acquired a new stake in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 672 shares of the industrial products company's stock, valued at approximately $281,000.

Other institutional investors have also modified their holdings of the company. TCW Group Inc. bought a new stake in Hubbell in the 4th quarter valued at approximately $6,962,000. Wealth Management Nebraska bought a new stake in Hubbell in the 4th quarter valued at approximately $252,000. Suncoast Equity Management lifted its stake in Hubbell by 8.7% in the 4th quarter. Suncoast Equity Management now owns 2,676 shares of the industrial products company's stock valued at $1,121,000 after acquiring an additional 215 shares in the last quarter. ING Groep NV lifted its stake in Hubbell by 32.4% in the 4th quarter. ING Groep NV now owns 6,855 shares of the industrial products company's stock valued at $2,871,000 after acquiring an additional 1,676 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in Hubbell by 41.2% in the 4th quarter. Handelsbanken Fonder AB now owns 53,858 shares of the industrial products company's stock valued at $22,561,000 after acquiring an additional 15,719 shares in the last quarter. Institutional investors own 88.16% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Deutsche Bank Aktiengesellschaft cut Hubbell from a "buy" rating to a "hold" rating and cut their target price for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Sanford C. Bernstein started coverage on Hubbell in a research report on Tuesday, November 5th. They set an "outperform" rating and a $535.00 price target on the stock. Barclays boosted their price target on Hubbell from $402.00 to $475.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 5th. Wells Fargo & Company lowered 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. Finally, StockNews.com raised Hubbell from a "hold" rating to a "buy" rating in a research report on Monday, February 17th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Hubbell currently has an average rating of "Hold" and a consensus price target of $471.50.

Hubbell Stock Performance

Shares of HUBB stock traded up $2.24 during trading on Friday, reaching $371.51. 550,777 shares of the company's stock were exchanged, compared to its average volume of 629,510. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $19.94 billion, a PE ratio of 25.87, a PEG ratio of 1.34 and a beta of 0.92. Hubbell Incorporated has a twelve month low of $346.13 and a twelve month high of $481.35. The firm's fifty day moving average price is $413.77 and its 200-day moving average price is $423.65.

Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings data 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. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the prior year, the firm posted $3.69 EPS. The company's revenue for the quarter was down .9% on a year-over-year basis. As a group, sell-side analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date is Friday, February 28th. Hubbell's dividend payout ratio is 36.77%.

Hubbell announced that its board has authorized a share 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 often an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the company'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 completion of the sale, the insider now directly owns 4,327 shares in the company, valued at approximately $1,683,462.62. This represents a 21.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.66% of the company's stock.

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.