Empirical Asset Management LLC Invests $5.29 Million in Hubbell Incorporated (NYSE:HUBB)

Empirical Asset Management LLC bought a new stake in Hubbell Incorporated (NYSE:HUBB - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 12,624 shares of the industrial products company's stock, valued at approximately $5,288,000.

A number of other hedge funds have also recently added to or reduced their stakes in HUBB. LGT Capital Partners LTD. purchased a new stake in shares of Hubbell in the third quarter valued at about $39,687,000. Principal Financial Group Inc. raised its stake in Hubbell by 7.1% during the 3rd quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company's stock valued at $98,187,000 after acquiring an additional 15,215 shares during the last quarter. Salem Investment Counselors Inc. raised its stake in Hubbell by 26.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 9,144 shares of the industrial products company's stock valued at $3,830,000 after acquiring an additional 1,886 shares during the last quarter. Impax Asset Management Group plc lifted its position in Hubbell by 30.3% during the 3rd quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company's stock worth $514,377,000 after acquiring an additional 279,654 shares during the period. Finally, MidAtlantic Capital Management Inc. purchased a new position in shares of Hubbell in the 3rd quarter valued at approximately $757,000. Hedge funds and other institutional investors own 88.16% of the company's stock.

Hubbell Price Performance

HUBB traded up $3.60 on Friday, hitting $437.52. 375,860 shares of the company were exchanged, compared to its average volume of 452,368. Hubbell Incorporated has a fifty-two week low of $322.27 and a fifty-two week high of $481.35. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. The firm has a market capitalization of $23.48 billion, a P/E ratio of 31.52, a price-to-earnings-growth ratio of 1.45 and a beta of 0.93. The business's fifty day moving average is $442.54 and its 200 day moving average is $417.02.

Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, topping analysts' consensus estimates of $4.47 by $0.02. The business had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The company's revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.95 EPS. As a group, sell-side analysts anticipate that Hubbell Incorporated will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Friday, November 29th were given a $1.32 dividend. The ex-dividend date of this dividend was Friday, November 29th. This is a positive change from Hubbell's previous quarterly dividend of $1.22. This represents a $5.28 annualized dividend and a dividend yield of 1.21%. Hubbell's payout ratio is currently 38.04%.

Insider Activity at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of the company's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value of $533,332.80. Following the sale, the insider now owns 2,957 shares of the company's stock, valued at approximately $1,378,553.40. This represents a 27.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.78% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Sanford C. Bernstein began coverage on Hubbell in a research note on Tuesday, November 5th. They set an "outperform" rating and a $535.00 price target for the company. Morgan Stanley upped their price objective on shares of Hubbell from $407.00 to $445.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. downgraded shares of Hubbell from an "overweight" rating to a "neutral" rating and lifted their target price for the company from $385.00 to $454.00 in a report on Thursday, October 10th. Barclays increased their price target on shares of Hubbell from $402.00 to $475.00 and gave the stock an "equal weight" rating in a report on Thursday, December 5th. Finally, Deutsche Bank Aktiengesellschaft lowered Hubbell from a "buy" rating to a "hold" rating and lowered their price objective for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $471.50.

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.