Marshall Wace LLP Has $128.62 Million Holdings in Hubbell Incorporated (NYSE:HUBB)

Marshall Wace LLP lifted its stake in Hubbell Incorporated (NYSE:HUBB - Free Report) by 418.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 307,050 shares of the industrial products company's stock after acquiring an additional 247,786 shares during the period. Marshall Wace LLP owned 0.57% of Hubbell worth $128,620,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Hubbell by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 6,634,705 shares of the industrial products company's stock valued at $2,779,212,000 after purchasing an additional 65,033 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Hubbell by 4.8% during the fourth quarter. Bank of New York Mellon Corp now owns 2,826,327 shares of the industrial products company's stock valued at $1,183,920,000 after purchasing an additional 129,490 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Hubbell by 6.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,510,430 shares of the industrial products company's stock valued at $632,704,000 after buying an additional 92,954 shares in the last quarter. Invesco Ltd. lifted its stake in Hubbell by 1.9% in the fourth quarter. Invesco Ltd. now owns 1,490,479 shares of the industrial products company's stock valued at $624,347,000 after acquiring an additional 27,914 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Hubbell by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 1,284,506 shares of the industrial products company's stock valued at $536,641,000 after purchasing an additional 29,601 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors.

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 dated Thursday, February 20th. The shares were 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 of the company's stock, valued at approximately $1,683,462.62. This represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.66% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. reduced their target price on Hubbell from $430.00 to $352.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company reduced their price objective on Hubbell from $455.00 to $450.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 7th. StockNews.com cut shares of Hubbell from a "buy" rating to a "hold" rating in a research note on Friday, April 11th. Finally, Barclays decreased their price target on shares of Hubbell from $422.00 to $400.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 26th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $449.38.

Hubbell Price Performance

Shares of NYSE:HUBB traded down $0.42 during midday trading on Friday, reaching $338.36. 466,124 shares of the company's stock were exchanged, compared to its average volume of 517,997. The firm has a market capitalization of $18.16 billion, a PE ratio of 23.56, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. The company's 50 day simple moving average is $351.09 and its two-hundred day simple moving average is $409.07. Hubbell Incorporated has a 12 month low of $299.43 and a 12 month high of $481.35. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64.

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

Hubbell announced that its board has approved a share buyback 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 an indication that the company's board of directors believes its shares are undervalued.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a dividend of $1.32 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $5.28 annualized dividend and a yield of 1.56%. Hubbell's dividend payout ratio is currently 36.77%.

Hubbell 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.