Hubbell Incorporated (NYSE:HUBB) Position Lifted by Groupama Asset Managment

Groupama Asset Managment increased its position in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 55.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 10,832 shares of the industrial products company's stock after acquiring an additional 3,877 shares during the quarter. Groupama Asset Managment's holdings in Hubbell were worth $4,541,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of HUBB. Headlands Technologies LLC purchased a new stake in Hubbell in the 4th quarter valued at about $126,000. Geode Capital Management LLC boosted its position in shares of Hubbell by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 1,284,506 shares of the industrial products company's stock worth $536,641,000 after acquiring an additional 29,601 shares during the last quarter. National Bank of Canada FI grew its holdings in Hubbell by 15.2% in the fourth quarter. National Bank of Canada FI now owns 25,133 shares of the industrial products company's stock valued at $10,528,000 after purchasing an additional 3,325 shares during the period. Franklin Resources Inc. increased its position in Hubbell by 10.4% during the fourth quarter. Franklin Resources Inc. now owns 109,760 shares of the industrial products company's stock worth $45,977,000 after purchasing an additional 10,355 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. AG raised its stake in Hubbell by 0.6% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 6,458 shares of the industrial products company's stock worth $2,705,000 after purchasing an additional 39 shares during the period. 88.16% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was 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 approximately $1,683,462.62. The trade was a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.66% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on HUBB shares. StockNews.com raised shares of Hubbell from a "hold" rating to a "buy" rating in a research note on Thursday. Barclays lowered their price target on Hubbell from $422.00 to $400.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 26th. Finally, Wells Fargo & Company cut their price objective on Hubbell from $455.00 to $450.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $462.13.

Hubbell Stock Down 1.8 %

Shares of HUBB traded down $5.66 during midday trading on Friday, reaching $315.69. 1,202,137 shares of the company were exchanged, compared to its average volume of 499,331. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. Hubbell Incorporated has a 1-year low of $299.36 and a 1-year high of $481.35. The company has a market cap of $16.94 billion, a price-to-earnings ratio of 21.98, a P/E/G ratio of 1.34 and a beta of 0.95. The stock has a 50-day moving average price of $370.54 and a 200-day moving average price of $416.68.

Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly 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. The firm had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.41 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. Hubbell's quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.69 EPS. Research analysts expect that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell announced that its board has initiated a stock repurchase program on Wednesday, February 12th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the industrial products company to repurchase up to 2.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its shares are undervalued.

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a $1.32 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a yield of 1.67%. Hubbell's dividend payout ratio is currently 36.77%.

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.