Dynamic Technology Lab Private Ltd Purchases New Stake in Hubbell Incorporated (NYSE:HUBB)

Dynamic Technology Lab Private Ltd acquired a new position in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,450 shares of the industrial products company's stock, valued at approximately $607,000.

Several other large investors have also modified their holdings of HUBB. MassMutual Private Wealth & Trust FSB increased its stake in Hubbell by 12.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company's stock valued at $96,000 after purchasing an additional 25 shares during the period. JGP Wealth Management LLC lifted its position in Hubbell by 1.2% in the fourth quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company's stock valued at $884,000 after purchasing an additional 26 shares during the period. Huntington National Bank boosted its holdings in Hubbell by 3.0% in the 4th quarter. Huntington National Bank now owns 886 shares of the industrial products company's stock valued at $371,000 after purchasing an additional 26 shares in the last quarter. Sanctuary Advisors LLC increased its position in Hubbell by 0.5% during 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 during the period. Finally, Mindset Wealth Management LLC raised its stake in shares of Hubbell by 1.7% during the 4th quarter. Mindset Wealth Management LLC now owns 1,655 shares of the industrial products company's stock worth $693,000 after buying an additional 27 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on HUBB shares. StockNews.com cut Hubbell from a "buy" rating to a "hold" rating in a research report on Friday. Barclays cut their price target on shares of Hubbell from $422.00 to $400.00 and set an "equal weight" rating for the company in a report on Wednesday, March 26th. Wells Fargo & Company decreased their price objective on shares of Hubbell from $455.00 to $450.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Hubbell from $430.00 to $352.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Hubbell has an average rating of "Hold" and a consensus target price of $449.38.

Hubbell Trading Up 3.5 %

Shares of NYSE:HUBB traded up $11.89 during trading on Friday, reaching $353.73. The stock had a trading volume of 1,052,242 shares, compared to its average volume of 514,103. The stock has a market cap of $18.98 billion, a P/E ratio of 24.63, a PEG ratio of 1.34 and a beta of 0.95. 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 Incorporated has a fifty-two week low of $299.43 and a fifty-two week high of $481.35. The business has a fifty day moving average price of $356.69 and a 200-day moving average price of $411.80.

Hubbell (NYSE:HUBB - Get Free Report) last released its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 EPS for the quarter, beating the consensus estimate of $4.02 by $0.08. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same period in the prior year, the firm posted $3.69 earnings per share. The business's quarterly revenue was down .9% compared to the same quarter last year. As a group, analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

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

Hubbell declared that its Board of Directors has authorized a share buyback plan on Wednesday, February 12th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the industrial products company to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell 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 transaction, the insider now owns 4,327 shares in the company, valued at $1,683,462.62. This trade represents a 21.20 % decrease in their position. The sale 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 company insiders.

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.