Bank of Montreal Can Lowers Position in Hubbell Incorporated (NYSE:HUBB)

Bank of Montreal Can trimmed its holdings in Hubbell Incorporated (NYSE:HUBB - Free Report) by 1.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 223,515 shares of the industrial products company's stock after selling 2,325 shares during the quarter. Bank of Montreal Can owned 0.42% of Hubbell worth $93,628,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of HUBB. Janus Henderson Group PLC boosted its holdings in Hubbell by 11.1% during the third quarter. Janus Henderson Group PLC now owns 7,007 shares of the industrial products company's stock valued at $3,001,000 after acquiring an additional 700 shares during the period. Quantinno Capital Management LP lifted its stake in shares of Hubbell by 12.3% in the 3rd quarter. Quantinno Capital Management LP now owns 6,829 shares of the industrial products company's stock valued at $2,926,000 after purchasing an additional 750 shares during the period. National Bank of Canada FI raised its holdings in Hubbell by 47.8% in the third quarter. National Bank of Canada FI now owns 21,808 shares of the industrial products company's stock worth $9,341,000 after purchasing an additional 7,052 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in Hubbell by 6.4% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 16,001 shares of the industrial products company's stock worth $6,854,000 after purchasing an additional 957 shares in the last quarter. Finally, Groupama Asset Managment boosted 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 buying an additional 1,010 shares during the period. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction on Thursday, February 20th. The stock was 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 in the company, valued at approximately $1,683,462.62. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.66% of the company's stock.

Hubbell Price Performance

NYSE HUBB traded up $3.19 during trading hours on Monday, hitting $356.62. The company had a trading volume of 246,997 shares, compared to its average volume of 513,138. The firm has a market capitalization of $19.14 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 1.34 and a beta of 0.95. Hubbell Incorporated has a 52 week low of $299.43 and a 52 week high of $481.35. The firm has a 50 day simple moving average of $356.69 and a 200 day simple moving average of $411.80. 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 (NYSE:HUBB - Get Free Report) last released its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the previous year, the company posted $3.69 EPS. Hubbell's quarterly revenue was down .9% compared to the same quarter last year. Equities research analysts expect that Hubbell Incorporated will post 17.63 earnings per share for the current year.

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

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a dividend of $1.32 per share. The ex-dividend date was Friday, February 28th. This represents a $5.28 annualized dividend and a yield of 1.48%. Hubbell's payout ratio is 36.77%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. cut their price objective on Hubbell from $430.00 to $352.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company lowered their price objective on Hubbell from $455.00 to $450.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 7th. Barclays decreased 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, StockNews.com downgraded Hubbell from a "buy" rating to a "hold" rating in a research note on Friday. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $449.38.

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.