Hubbell Incorporated (NYSE:HUBB) Shares Bought by Invesco Ltd.

Invesco Ltd. boosted its stake in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,490,479 shares of the industrial products company's stock after purchasing an additional 27,914 shares during the period. Invesco Ltd. owned approximately 2.78% of Hubbell worth $624,347,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Creative Financial Designs Inc. ADV raised its holdings in Hubbell by 85.7% in the fourth 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 period. Groupama Asset Managment increased its position in shares of Hubbell by 17.0% in the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company's stock worth $30,000 after acquiring an additional 1,010 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of Hubbell in the 4th quarter valued at $30,000. Versant Capital Management Inc increased its holdings in Hubbell by 64.6% in the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company's stock valued at $33,000 after purchasing an additional 31 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its position in Hubbell by 69.7% in the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company's stock valued at $54,000 after purchasing an additional 53 shares during the period. Institutional investors and hedge funds own 88.16% of the company's stock.

Analyst Ratings Changes

HUBB has been the topic of several recent research reports. StockNews.com lowered Hubbell from a "buy" rating to a "hold" rating in a research report on Friday. Wells Fargo & Company lowered their price target on shares of Hubbell from $455.00 to $450.00 and set an "equal weight" rating for the company in a report on Tuesday, January 7th. Barclays cut their price objective on shares of Hubbell from $422.00 to $400.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 26th. Finally, JPMorgan Chase & Co. cut their price target on Hubbell from $430.00 to $352.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $449.38.

Hubbell Stock Performance

Shares of NYSE HUBB traded up $11.89 during trading on Friday, reaching $353.73. The stock had a trading volume of 1,052,242 shares, compared to its average volume of 514,103. The firm's 50 day moving average price is $356.69 and its two-hundred day moving average price is $411.80. Hubbell Incorporated has a one year low of $299.43 and a one year high of $481.35. The stock has a market cap of $18.98 billion, a PE ratio of 24.63, a P/E/G ratio of 1.34 and a beta of 0.95. 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 issued its 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. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The company had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.41 billion. During the same period in the prior year, the company earned $3.69 earnings per share. The firm's revenue was down .9% compared to the same quarter last year. On average, research analysts forecast that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend was Friday, February 28th. Hubbell's payout ratio is 36.77%.

Hubbell announced that its Board of Directors has approved a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the industrial products company to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $389.06, for a total value 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 trade represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.66% of the company's stock.

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.