Alliancebernstein L.P. Has $31.49 Million Holdings in Hubbell Incorporated (NYSE:HUBB)

Alliancebernstein L.P. raised its holdings in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 15.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,182 shares of the industrial products company's stock after buying an additional 9,872 shares during the quarter. Alliancebernstein L.P. owned about 0.14% of Hubbell worth $31,493,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Creative Financial Designs Inc. ADV raised its stake in Hubbell by 85.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 30 shares during the last quarter. Groupama Asset Managment raised its position in shares of Hubbell by 17.0% during the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company's stock valued at $30,000 after buying an additional 1,010 shares during the last quarter. Stonebridge Financial Group LLC acquired a new position in shares of Hubbell during the fourth quarter valued at about $30,000. Versant Capital Management Inc lifted its stake in shares of Hubbell by 64.6% in the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company's stock valued at $33,000 after buying an additional 31 shares during the period. Finally, Venturi Wealth Management LLC grew its position in Hubbell by 69.7% during the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company's stock worth $54,000 after buying an additional 53 shares in the last quarter. 88.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

HUBB has been the subject of a number of research reports. JPMorgan Chase & Co. reduced their price objective on Hubbell from $430.00 to $352.00 and set a "neutral" rating for the company in a research report on Tuesday. Wells Fargo & Company decreased their price target on shares of Hubbell from $455.00 to $450.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 7th. Barclays lowered their price target on shares of Hubbell from $422.00 to $400.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 26th. Finally, StockNews.com downgraded shares of Hubbell from a "buy" rating to a "hold" rating in a report on Friday. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Hubbell presently has an average rating of "Hold" and an average price target of $449.38.

Insider Activity

In other news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total transaction of $452,865.84. Following the sale, the insider now directly owns 4,327 shares of the company's stock, valued at $1,683,462.62. This represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.66% of the stock is currently owned by corporate insiders.

Hubbell Price Performance

Shares of Hubbell stock traded up $11.89 during mid-day trading on Friday, reaching $353.73. 1,052,242 shares of the stock were exchanged, compared to its average volume of 513,672. Hubbell Incorporated has a fifty-two week low of $299.43 and a fifty-two week high of $481.35. The company has a market cap of $18.98 billion, a price-to-earnings ratio of 24.63, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. The firm has a 50-day simple moving average of $356.69 and a 200 day simple moving average of $411.91. 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 (NYSE:HUBB - Get Free Report) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.02 by $0.08. The company had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. Hubbell's quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.69 earnings per share. On average, sell-side analysts predict that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend was Friday, February 28th. Hubbell's payout ratio is presently 36.77%.

Hubbell announced that its board has approved a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the industrial products company to purchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board believes its shares are undervalued.

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.