Qtron Investments LLC Purchases New Shares in Hubbell Incorporated (NYSE:HUBB)

Qtron Investments LLC acquired a new position in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,229 shares of the industrial products company's stock, valued at approximately $515,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Creative Financial Designs Inc. ADV increased its position in shares of 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 period. Stonebridge Financial Group LLC acquired a new position in Hubbell in the fourth quarter worth $30,000. Versant Capital Management Inc grew its holdings in Hubbell by 64.6% during the 4th 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. Venturi Wealth Management LLC grew its stake in shares of 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 last quarter. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Hubbell in the 4th quarter valued at $69,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Hubbell Price Performance

Shares of Hubbell stock traded down $0.42 during trading on Friday, reaching $338.36. 466,124 shares of the company's stock were exchanged, compared to its average volume of 517,139. Hubbell Incorporated has a 1-year low of $299.43 and a 1-year high of $481.35. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. The firm's 50-day moving average price is $352.27 and its 200 day moving average price is $409.68. The company has a market cap of $18.16 billion, a P/E ratio of 23.56, a PEG ratio of 1.34 and a beta of 0.95.

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 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 firm had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.41 billion. During the same period in the prior year, the company posted $3.69 EPS. The company's revenue was down .9% on a year-over-year basis. As a group, research analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

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 dividend of $1.32 per share. The ex-dividend date of this dividend was Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a yield of 1.56%. Hubbell's payout ratio is currently 36.77%.

Hubbell declared that its Board of Directors has authorized a stock buyback plan on Wednesday, February 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of Hubbell from $430.00 to $352.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Barclays reduced their price target on Hubbell from $422.00 to $400.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 26th. StockNews.com downgraded Hubbell from a "buy" rating to a "hold" rating in a report on Friday, April 11th. 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. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $449.38.

Insider Transactions at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total value of $452,865.84. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.66% of the company's stock.

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.