Aigen Investment Management LP Takes Position in Hubbell Incorporated (NYSE:HUBB)

Aigen Investment Management LP acquired a new position in Hubbell Incorporated (NYSE:HUBB - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,047 shares of the industrial products company's stock, valued at approximately $439,000.

Several other institutional investors have also bought and sold shares of HUBB. Groupama Asset Managment lifted its holdings in Hubbell by 17.0% in the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 1,010 shares during the last quarter. Stonebridge Financial Group LLC acquired a new stake in Hubbell in the 4th quarter valued at about $30,000. Prospera Private Wealth LLC acquired a new stake in Hubbell in the 3rd quarter valued at about $33,000. Versant Capital Management Inc lifted its holdings in Hubbell by 64.6% in the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company's stock valued at $33,000 after acquiring an additional 31 shares during the last quarter. Finally, Ashton Thomas Securities LLC acquired a new stake in Hubbell in the 3rd quarter valued at about $41,000. Institutional investors and hedge funds own 88.16% of the company's stock.

Insider Transactions at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the firm'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 sale, the insider now owns 4,327 shares in the company, valued at approximately $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

Remove Ads

Hubbell Stock Up 2.5 %

Shares of NYSE HUBB traded up $8.77 during mid-day trading on Friday, reaching $355.05. The company had a trading volume of 1,078,895 shares, compared to its average volume of 467,296. The company has a market capitalization of $19.05 billion, a price-to-earnings ratio of 24.73, a PEG ratio of 1.34 and a beta of 0.94. The stock has a fifty day moving average of $406.11 and a two-hundred day moving average of $423.15. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. Hubbell Incorporated has a 12-month low of $337.97 and a 12-month high of $481.35.

Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly 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. 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 analyst estimates of $1.41 billion. During the same quarter last year, the firm posted $3.69 earnings per share. The company's quarterly revenue was down .9% compared to the same quarter last year. As a group, equities research analysts expect that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell announced that its board has authorized a share buyback 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 reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date is Friday, February 28th. Hubbell's dividend payout ratio is 36.77%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a "buy" rating to a "hold" rating and cut their price target for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Barclays decreased their target price on shares of Hubbell from $475.00 to $422.00 and set an "equal weight" rating for the company in a report on Monday, March 3rd. Wells Fargo & Company decreased 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. Finally, StockNews.com upgraded shares of Hubbell from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $464.88.

Hubbell 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.