Advisor OS LLC Acquires New Position in Hubbell Incorporated (NYSE:HUBB)

Advisor OS LLC bought a new stake in Hubbell Incorporated (NYSE:HUBB - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,168 shares of the industrial products company's stock, valued at approximately $489,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Cavalier Investments LLC increased its stake in shares of Hubbell by 2.6% during the 4th quarter. Cavalier Investments LLC now owns 1,896 shares of the industrial products company's stock worth $794,000 after purchasing an additional 48 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Hubbell by 4.8% in the fourth quarter. Bank of New York Mellon Corp now owns 2,826,327 shares of the industrial products company's stock valued at $1,183,920,000 after buying an additional 129,490 shares during the period. BHK Investment Advisors LLC grew its holdings in shares of Hubbell by 2.3% during the 4th quarter. BHK Investment Advisors LLC now owns 1,351 shares of the industrial products company's stock worth $566,000 after purchasing an additional 30 shares in the last quarter. RWC Asset Management LLP bought a new position in shares of Hubbell during the 4th quarter worth about $22,375,000. Finally, Y Intercept Hong Kong Ltd bought a new position in Hubbell during the fourth quarter worth about $1,130,000. 88.16% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the business's stock in a transaction dated 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 directly owns 4,327 shares in the company, valued at $1,683,462.62. The trade was a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.66% of the stock is owned by corporate insiders.

Hubbell Stock Up 0.6 %

NYSE HUBB 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 50 day moving average price of $413.77 and a two-hundred day moving average price of $423.99. Hubbell Incorporated has a 1 year low of $346.13 and a 1 year high of $481.35. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. The stock has a market cap of $19.94 billion, a P/E ratio of 25.87, a price-to-earnings-growth ratio of 1.34 and a beta of 0.92.

Hubbell (NYSE:HUBB - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.08. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the prior year, the firm earned $3.69 earnings per share. The company's revenue for the quarter was down .9% compared to the same quarter last year. On average, equities research analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the industrial products company to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Hubbell Announces Dividend

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

Analyst Ratings Changes

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

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.