IQ EQ FUND MANAGEMENT IRELAND Ltd Invests $859,000 in Hubbell Incorporated (NYSE:HUBB)

IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in Hubbell Incorporated (NYSE:HUBB - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 2,051 shares of the industrial products company's stock, valued at approximately $859,000.

A number of other institutional investors have also recently made changes to their positions in the company. Creative Financial Designs Inc. ADV lifted its position in Hubbell by 85.7% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 30 shares during the last quarter. Groupama Asset Managment lifted its holdings in shares of Hubbell by 17.0% in the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 1,010 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in Hubbell in the fourth quarter worth about $30,000. Versant Capital Management Inc increased its stake in Hubbell by 64.6% during the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company's stock worth $33,000 after acquiring an additional 31 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its position in Hubbell by 69.7% during 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. Hedge funds and other institutional investors own 88.16% of the company's stock.

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Analysts Set New Price Targets

A number of analysts recently issued reports on the company. 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. StockNews.com lowered shares of Hubbell from a "buy" rating to a "hold" rating in a report on Wednesday, March 26th. Finally, Wells Fargo & Company cut their price target on shares of Hubbell from $455.00 to $450.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 7th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $462.13.

Hubbell Trading Up 0.9 %

HUBB traded up $3.02 on Tuesday, reaching $333.93. 108,590 shares of the company traded hands, compared to its average volume of 491,857. 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 company has a market cap of $17.92 billion, a P/E ratio of 23.29, a price-to-earnings-growth ratio of 1.34 and a beta of 0.94. The firm has a fifty day simple moving average of $377.84 and a two-hundred day simple moving average of $418.38. Hubbell Incorporated has a one year low of $316.34 and a one year high of $481.35.

Hubbell (NYSE:HUBB - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.02 by $0.08. The firm had revenue of $1.33 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.69 earnings per share. As a group, equities research analysts expect that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a dividend of $1.32 per share. The ex-dividend date was Friday, February 28th. This represents a $5.28 annualized dividend and a dividend yield of 1.58%. Hubbell's dividend payout ratio is currently 36.77%.

Hubbell declared that its board has initiated a share buyback plan 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 purchase up to 2.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's board believes its shares are undervalued.

Insider Activity

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the 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 transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.66% of the company's stock.

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.