Proficio Capital Partners LLC Takes $40.53 Million Position in Hubbell Incorporated (NYSE:HUBB)

Proficio Capital Partners LLC purchased a new stake in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 96,764 shares of the industrial products company's stock, valued at approximately $40,533,000. Proficio Capital Partners LLC owned about 0.18% of Hubbell as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Stonebridge Financial Group LLC acquired a new position in Hubbell in the 4th quarter worth about $30,000. Prospera Private Wealth LLC purchased a new stake in Hubbell in the 3rd quarter worth $33,000. Versant Capital Management Inc raised its position 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 period. Ashton Thomas Securities LLC purchased a new position in Hubbell during the third quarter valued at $41,000. Finally, Venturi Wealth Management LLC grew its position in shares of 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. 88.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HUBB has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a "buy" rating to a "hold" rating and reduced their price target for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. Sanford C. Bernstein assumed coverage on Hubbell in a research report on Tuesday, November 5th. They issued an "outperform" rating and a $535.00 target price on the stock. StockNews.com upgraded Hubbell from a "hold" rating to a "buy" rating in a research report on Monday, February 17th. Barclays decreased their price objective on Hubbell from $475.00 to $422.00 and set an "equal weight" rating on the stock in a report on Monday. Finally, Wells Fargo & Company dropped their target price 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. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $464.88.

Hubbell Trading Down 4.7 %

Shares of HUBB stock traded down $17.38 on Monday, hitting $354.21. 724,441 shares of the stock traded hands, compared to its average volume of 458,683. 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 Incorporated has a twelve month low of $346.13 and a twelve month high of $481.35. The firm's 50-day moving average price is $413.77 and its two-hundred day moving average price is $424.31. The stock has a market capitalization of $19.01 billion, a PE ratio of 24.67, a PEG ratio of 1.34 and a beta of 0.92.

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, beating the consensus estimate of $4.02 by $0.08. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. Hubbell's revenue was down .9% on a year-over-year basis. During the same period in the previous year, the business posted $3.69 EPS. As a group, analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a $1.32 dividend. The ex-dividend date is Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a yield of 1.49%. Hubbell's payout ratio is currently 36.77%.

Hubbell declared that its Board of Directors has approved a share repurchase plan on Wednesday, February 12th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the industrial products company to repurchase up to 2.4% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the company's stock in a transaction on Thursday, February 20th. The stock was 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.66% of the stock is currently owned by insiders.

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.