731 Shares in Hubbell Incorporated (NYSE:HUBB) Bought by Portfolio Design Labs LLC

Portfolio Design Labs LLC purchased a new stake in Hubbell Incorporated (NYSE:HUBB - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 731 shares of the industrial products company's stock, valued at approximately $306,000.

Other large investors have also recently made changes to their positions in the company. Mizuho Securities USA LLC lifted its stake in Hubbell by 192,421.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company's stock valued at $3,418,233,000 after acquiring an additional 7,975,855 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of Hubbell by 42,735.0% in the third quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company's stock valued at $8,223,740,000 after purchasing an additional 1,915,383 shares during the last quarter. Impax Asset Management Group plc raised its holdings in shares of Hubbell by 30.3% in the third quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company's stock valued at $514,377,000 after purchasing an additional 279,654 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Hubbell by 268.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 231,130 shares of the industrial products company's stock valued at $99,005,000 after purchasing an additional 168,380 shares during the last quarter. Finally, LGT Capital Partners LTD. purchased a new stake in shares of Hubbell in the third quarter valued at about $39,687,000. 88.16% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on HUBB. StockNews.com downgraded shares of Hubbell from a "buy" rating to a "hold" rating in a research report on Tuesday, January 28th. Deutsche Bank Aktiengesellschaft lowered Hubbell from a "buy" rating to a "hold" rating and dropped their price target for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. 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. Sanford C. Bernstein initiated coverage on Hubbell in a research report on Tuesday, November 5th. They set an "outperform" rating and a $535.00 target price for the company. Finally, Morgan Stanley increased their price target on shares of Hubbell from $407.00 to $445.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $471.50.

Hubbell Stock Performance

HUBB traded down $3.30 during trading hours on Friday, hitting $389.93. The stock had a trading volume of 655,543 shares, compared to its average volume of 676,539. The stock has a market cap of $20.93 billion, a PE ratio of 27.15, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92. Hubbell Incorporated has a 1 year low of $346.13 and a 1 year high of $481.35. The company has a quick ratio of 1.05, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. The company's fifty day simple moving average is $426.51 and its 200 day simple moving average is $423.65.

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 for the quarter, topping the consensus estimate of $4.02 by $0.08. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The company's revenue was down .9% on a year-over-year basis. During the same quarter last year, the company earned $3.69 earnings per share. Equities analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date of this dividend is Friday, February 28th. Hubbell's payout ratio is currently 36.77%.

Hubbell declared that its board has approved a share buyback program on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

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.