Ausdal Financial Partners Inc. Makes New Investment in Hubbell Incorporated (NYSE:HUBB)

Ausdal Financial Partners Inc. purchased a new position in Hubbell Incorporated (NYSE:HUBB - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,482 shares of the industrial products company's stock, valued at approximately $621,000.

A number of other large investors also recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Hubbell by 12.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company's stock worth $96,000 after buying an additional 25 shares in the last quarter. JGP Wealth Management LLC raised its holdings in Hubbell by 1.2% in the 4th quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company's stock valued at $884,000 after acquiring an additional 26 shares during the last quarter. Sanctuary Advisors LLC lifted its stake in Hubbell by 0.5% in the 4th quarter. Sanctuary Advisors LLC now owns 5,422 shares of the industrial products company's stock worth $2,313,000 after purchasing an additional 27 shares in the last quarter. Mindset Wealth Management LLC lifted its stake in Hubbell by 1.7% in the 4th quarter. Mindset Wealth Management LLC now owns 1,655 shares of the industrial products company's stock worth $693,000 after purchasing an additional 27 shares in the last quarter. Finally, Avestar Capital LLC boosted its holdings in shares of Hubbell by 5.1% during the 3rd quarter. Avestar Capital LLC now owns 577 shares of the industrial products company's stock worth $247,000 after purchasing an additional 28 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

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Hubbell Trading Up 0.5 %

HUBB stock traded up $1.62 during mid-day trading on Tuesday, hitting $332.53. 470,812 shares of the company were exchanged, compared to its average volume of 494,135. Hubbell Incorporated has a 12-month low of $316.34 and a 12-month high of $481.35. The firm has a market capitalization of $17.85 billion, a P/E ratio of 23.16, a PEG ratio of 1.34 and a beta of 0.94. The business has a fifty day simple moving average of $375.48 and a 200-day simple moving average of $417.88. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44.

Hubbell (NYSE:HUBB - Get Free Report) last announced 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. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the previous year, the company earned $3.69 earnings per share. The firm's quarterly revenue was down .9% compared to the same quarter last year. On average, equities research analysts predict that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell declared that its Board of Directors has approved a stock buyback plan on Wednesday, February 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the industrial products company to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date of this dividend was Friday, February 28th. Hubbell's dividend payout ratio (DPR) is 36.77%.

Insider Buying and Selling at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the insider now owns 4,327 shares of the company's stock, valued at approximately $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.66% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. StockNews.com downgraded Hubbell from a "buy" rating to a "hold" rating in a research report on Wednesday, March 26th. Barclays cut their target price on Hubbell from $422.00 to $400.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 26th. Finally, Wells Fargo & Company lowered 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 report on Tuesday, January 7th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $462.13.

About Hubbell

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.