NEOS Investment Management LLC Purchases 1,615 Shares of Hubbell Incorporated (NYSE:HUBB)

NEOS Investment Management LLC grew its stake in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 216.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,360 shares of the industrial products company's stock after purchasing an additional 1,615 shares during the period. NEOS Investment Management LLC's holdings in Hubbell were worth $989,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in shares of Hubbell during the fourth quarter worth approximately $63,647,000. Bank of New York Mellon Corp grew its stake in shares of Hubbell by 4.8% in the 4th 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 buying an additional 129,490 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Hubbell in the fourth quarter worth approximately $40,533,000. Vontobel Holding Ltd. lifted its stake in Hubbell by 9,720.7% in the fourth quarter. Vontobel Holding Ltd. now owns 74,048 shares of the industrial products company's stock valued at $31,018,000 after acquiring an additional 73,294 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in Hubbell by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 6,634,705 shares of the industrial products company's stock worth $2,779,212,000 after acquiring an additional 65,033 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company's stock.

Insider Transactions at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction on Thursday, February 20th. The shares were 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.66% of the stock is owned by insiders.

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Hubbell Stock Performance

Shares of Hubbell stock traded down $26.81 during midday trading on Thursday, hitting $314.81. The company had a trading volume of 176,625 shares, compared to its average volume of 492,969. Hubbell Incorporated has a 1-year low of $313.43 and a 1-year high of $481.35. The business's 50 day simple moving average is $373.18 and its two-hundred day simple moving average is $417.35. The stock has a market cap of $16.90 billion, a PE ratio of 21.92, 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 current ratio of 1.64 and a quick ratio of 0.98.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the previous year, the firm posted $3.69 EPS. The business's revenue was down .9% compared to the same quarter last year. As a group, equities analysts predict that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell announced that its board has authorized a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's management believes its stock is undervalued.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were given a $1.32 dividend. The ex-dividend date was Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.68%. Hubbell's dividend payout ratio is currently 36.77%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on HUBB shares. Barclays reduced 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, March 26th. StockNews.com raised Hubbell from a "hold" rating to a "buy" rating in a research note on Thursday. Finally, Wells Fargo & Company decreased their target price 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. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $462.13.

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.