Bancreek Capital Management LP Has $5.46 Million Stake in Hubbell Incorporated (NYSE:HUBB)

Bancreek Capital Management LP lessened its stake in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 27.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,035 shares of the industrial products company's stock after selling 4,969 shares during the quarter. Hubbell comprises 5.3% of Bancreek Capital Management LP's portfolio, making the stock its 9th largest holding. Bancreek Capital Management LP's holdings in Hubbell were worth $5,460,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Salem Investment Counselors Inc. boosted its stake 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 buying an additional 1,886 shares during the period. Janney Montgomery Scott LLC lifted its position 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 last quarter. Principal Financial Group Inc. grew its stake in Hubbell by 7.1% in the 3rd quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company's stock worth $98,187,000 after buying an additional 15,215 shares in the last quarter. Nordea Investment Management AB grew its stake in Hubbell by 29.6% in the 4th quarter. Nordea Investment Management AB now owns 160,630 shares of the industrial products company's stock worth $67,503,000 after buying an additional 36,643 shares in the last quarter. Finally, SPX Gestao de Recursos Ltda bought a new position in shares of Hubbell in the 3rd quarter worth $9,985,000. 88.16% of the stock is currently owned by institutional investors.

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Insider Activity

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 value of $452,865.84. Following the completion of the transaction, the insider now owns 4,327 shares in the company, valued at approximately $1,683,462.62. This represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.66% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

HUBB has been the subject of several research analyst reports. Wells Fargo & Company dropped their price target 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. StockNews.com raised shares of Hubbell from a "hold" rating to a "buy" rating in a research note on Monday, February 17th. Barclays cut their price objective on shares of Hubbell from $422.00 to $400.00 and set an "equal weight" rating for the company in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a "buy" rating to a "hold" rating and decreased their target price for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $462.13.

Hubbell Trading Down 2.0 %

Shares of NYSE:HUBB traded down $7.08 during midday trading on Wednesday, hitting $346.54. 714,453 shares of the stock traded hands, compared to its average volume of 477,351. Hubbell Incorporated has a one year low of $330.32 and a one year 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 business's 50 day moving average is $385.55 and its two-hundred day moving average is $419.79. The stock has a market capitalization of $18.60 billion, a PE ratio of 24.13, a P/E/G ratio of 1.34 and a beta of 0.94.

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

Hubbell declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the industrial products company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are often 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 issued a $1.32 dividend. The ex-dividend date of this dividend was Friday, February 28th. This represents a $5.28 annualized dividend and a yield of 1.52%. Hubbell's dividend payout ratio (DPR) is presently 36.77%.

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.