Asset Management One Co. Ltd. Purchases 3,244 Shares of Hubbell Incorporated (NYSE:HUBB)

Asset Management One Co. Ltd. boosted its position in Hubbell Incorporated (NYSE:HUBB - Free Report) by 12.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,111 shares of the industrial products company's stock after purchasing an additional 3,244 shares during the period. Asset Management One Co. Ltd. owned about 0.06% of Hubbell worth $12,740,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Groupama Asset Managment lifted 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 worth $30,000 after acquiring an additional 1,010 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in Hubbell in the fourth quarter valued at $30,000. Prospera Private Wealth LLC bought a new position in Hubbell in the third quarter valued at $33,000. Versant Capital Management Inc grew its stake in shares of Hubbell by 64.6% during 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 last quarter. Finally, Ashton Thomas Securities LLC bought a new position in shares of Hubbell during the third quarter valued at about $41,000. Hedge funds and other institutional investors own 88.16% of the company's stock.

Hubbell Stock Performance

Shares of HUBB stock traded down $3.34 during mid-day trading on Thursday, reaching $389.04. 443,368 shares of the company's stock traded hands, compared to its average volume of 620,648. Hubbell Incorporated has a 12 month low of $346.13 and a 12 month high of $481.35. The firm has a 50 day moving average price of $422.89 and a two-hundred day moving average price of $423.71. 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 firm has a market capitalization of $20.88 billion, a PE ratio of 27.09, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92.

Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings data 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. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the previous year, the firm posted $3.69 EPS. The company's revenue for the quarter was down .9% compared to the same quarter last year. On average, research analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend is Friday, February 28th. Hubbell's dividend payout ratio (DPR) is 36.77%.

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

Wall Street Analyst Weigh In

HUBB has been the topic of a number of recent research reports. Wells Fargo & Company reduced their price objective on Hubbell from $455.00 to $450.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. Sanford C. Bernstein assumed coverage on shares of Hubbell in a report on Tuesday, November 5th. They set an "outperform" rating and a $535.00 target price for the company. Barclays lifted their target price on shares of Hubbell from $402.00 to $475.00 and gave the company an "equal weight" rating in a report on Thursday, December 5th. Finally, Morgan Stanley raised their price target on shares of Hubbell from $407.00 to $445.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $471.50.

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.