Mizuho Securities USA LLC Grows Holdings in Hubbell Incorporated (NYSE:HUBB)

Mizuho Securities USA LLC grew its position in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 46.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,087 shares of the industrial products company's stock after buying an additional 1,606 shares during the period. Mizuho Securities USA LLC's holdings in Hubbell were worth $2,131,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mindset Wealth Management LLC increased its position in shares of Hubbell by 1.7% during the 4th quarter. Mindset Wealth Management LLC now owns 1,655 shares of the industrial products company's stock valued at $693,000 after purchasing an additional 27 shares during the last quarter. Teacher Retirement System of Texas purchased a new position in Hubbell during the 4th quarter valued at about $210,000. Algebris UK Ltd purchased a new stake in shares of Hubbell in the fourth quarter worth $1,066,000. Harvest Fund Management Co. Ltd grew its holdings in shares of Hubbell by 27,400.0% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 275 shares of the industrial products company's stock valued at $115,000 after buying an additional 274 shares during the last quarter. Finally, North Forty Two & Co. purchased a new stake in shares of Hubbell during the fourth quarter valued at $244,000. 88.16% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $389.06, for a total transaction 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 trade represents a 21.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.66% of the stock is owned by insiders.

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Analysts Set New Price Targets

HUBB has been the subject of a number of recent research reports. StockNews.com downgraded Hubbell from a "buy" rating to a "hold" rating in a research note on Wednesday. Barclays cut their target price 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, Wells Fargo & Company reduced their target price 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 analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $462.13.

Hubbell Stock Down 3.0 %

Shares of HUBB stock traded down $10.32 during mid-day trading on Friday, hitting $331.68. The stock had a trading volume of 387,277 shares, compared to its average volume of 492,604. The firm has a market capitalization of $17.80 billion, a P/E ratio of 23.10, a price-to-earnings-growth ratio of 1.34 and a beta of 0.94. The firm's 50-day moving average is $382.09 and its two-hundred day moving average is $418.74. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. Hubbell Incorporated has a 12-month low of $330.32 and a 12-month high of $481.35.

Hubbell (NYSE:HUBB - Get Free Report) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.41 billion. During the same period last year, the firm earned $3.69 earnings per share. Hubbell's revenue was down .9% compared to the same quarter last year. On average, analysts predict that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell announced that its Board of Directors has approved a share buyback plan 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 plans are typically a sign that the company's leadership believes its shares are undervalued.

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.59%. The ex-dividend date was Friday, February 28th. Hubbell's dividend payout ratio is presently 36.77%.

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.