HM Payson & Co. Buys 9,528 Shares of Hubbell Incorporated (NYSE:HUBB)

HM Payson & Co. raised its stake in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 6.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 152,040 shares of the industrial products company's stock after purchasing an additional 9,528 shares during the period. Hubbell accounts for about 1.1% of HM Payson & Co.'s investment portfolio, making the stock its 27th biggest holding. HM Payson & Co. owned approximately 0.28% of Hubbell worth $63,688,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Salem Investment Counselors Inc. grew its holdings in Hubbell by 26.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 9,144 shares of the industrial products company's stock valued at $3,830,000 after purchasing an additional 1,886 shares during the period. Janney Montgomery Scott LLC grew its holdings in Hubbell by 122.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 28,723 shares of the industrial products company's stock valued at $12,032,000 after purchasing an additional 15,806 shares during the period. Principal Financial Group Inc. grew its holdings in Hubbell by 7.1% during the third quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company's stock valued at $98,187,000 after purchasing an additional 15,215 shares during the period. LGT Capital Partners LTD. bought a new stake in Hubbell during the third quarter valued at about $39,687,000. Finally, Impax Asset Management Group plc grew its holdings in Hubbell by 30.3% during the third quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company's stock valued at $514,377,000 after purchasing an additional 279,654 shares during the period. Institutional investors own 88.16% of the company's stock.

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the company's stock in a transaction that occurred 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 $1,683,462.62. This represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.66% of the company's stock.

Hubbell Price Performance

NYSE:HUBB opened at $355.05 on Friday. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $19.05 billion, a P/E ratio of 24.73, a P/E/G ratio of 1.34 and a beta of 0.95. Hubbell Incorporated has a 12 month low of $337.97 and a 12 month high of $481.35. The business's 50-day moving average is $406.11 and its 200 day moving average is $422.79.

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

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

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a yield of 1.49%. Hubbell's dividend payout ratio (DPR) is presently 36.77%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on HUBB. StockNews.com raised Hubbell from a "hold" rating to a "buy" rating in a research note on Monday, February 17th. Wells Fargo & Company dropped 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 dropped their price objective on Hubbell from $475.00 to $422.00 and set an "equal weight" rating for the company in a research note on Monday, March 3rd. Finally, Deutsche Bank Aktiengesellschaft lowered Hubbell from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $493.00 to $473.00 in a research note 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 MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $464.88.

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.

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