ExodusPoint Capital Management LP Purchases New Position in Hubbell Incorporated (NYSE:HUBB)

ExodusPoint Capital Management LP bought a new stake in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 11,978 shares of the industrial products company's stock, valued at approximately $5,017,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Creative Financial Designs Inc. ADV lifted its holdings in shares of Hubbell by 85.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock valued at $27,000 after buying an additional 30 shares during the last quarter. Stonebridge Financial Group LLC acquired a new position in shares of Hubbell in the 4th quarter worth approximately $30,000. Versant Capital Management Inc grew its holdings 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 worth $33,000 after purchasing an additional 31 shares during the last quarter. Venturi Wealth Management LLC increased its position in Hubbell by 69.7% in the 4th quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company's stock valued at $54,000 after acquiring an additional 53 shares in the last quarter. Finally, Golden State Wealth Management LLC bought a new position in shares of Hubbell in the fourth quarter worth about $69,000. Institutional investors and hedge funds own 88.16% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.66% of the company's stock.

Hubbell Stock Up 3.5 %

Shares of HUBB traded up $11.89 on Friday, hitting $353.73. The company's stock had a trading volume of 1,052,242 shares, compared to its average volume of 513,672. The firm has a market capitalization of $18.98 billion, a price-to-earnings ratio of 24.63, a P/E/G ratio of 1.34 and a beta of 0.95. Hubbell Incorporated has a fifty-two week low of $299.43 and a fifty-two week high of $481.35. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. The firm's fifty day moving average price is $356.69 and its 200-day moving average price is $411.91.

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. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.41 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. Hubbell's revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.69 EPS. On average, equities research analysts expect that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a dividend of $1.32 per share. 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 approved a share buyback 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 buy up to 2.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its shares are undervalued.

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.