Rhumbline Advisers Has $40.51 Million Position in Hubbell Incorporated (NYSE:HUBB)

Rhumbline Advisers lessened its position in Hubbell Incorporated (NYSE:HUBB - Free Report) by 2.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,713 shares of the industrial products company's stock after selling 2,086 shares during the period. Rhumbline Advisers owned about 0.18% of Hubbell worth $40,512,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of HUBB. Groupama Asset Managment grew its position in shares of Hubbell by 17.0% in the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 1,010 shares during the period. Stonebridge Financial Group LLC bought a new position in shares of Hubbell in the 4th quarter valued at about $30,000. Prospera Private Wealth LLC bought a new position in shares of Hubbell in the 3rd quarter valued at about $33,000. Versant Capital Management Inc grew its position in shares of Hubbell by 64.6% in the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company's stock valued at $33,000 after acquiring an additional 31 shares during the period. Finally, Ashton Thomas Securities LLC bought a new position in shares of Hubbell in the 3rd quarter valued at about $41,000. Institutional investors own 88.16% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on HUBB shares. Morgan Stanley lifted their price objective 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. Sanford C. Bernstein began coverage on shares of Hubbell in a report on Tuesday, November 5th. They set an "outperform" rating and a $535.00 target price for the company. Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a "buy" rating to a "hold" rating and reduced their target price for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. Barclays lifted their target price on shares of Hubbell from $402.00 to $475.00 and gave the stock an "equal weight" rating in a report on Thursday, December 5th. Finally, StockNews.com raised shares of Hubbell from a "hold" rating to a "buy" rating in a report on Monday. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Hubbell has an average rating of "Hold" and an average target price of $471.50.

Hubbell Stock Performance

NYSE HUBB traded down $12.68 during trading on Friday, reaching $376.74. The company's stock had a trading volume of 638,985 shares, compared to its average volume of 621,185. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $20.22 billion, a price-to-earnings ratio of 26.24, a price-to-earnings-growth ratio of 1.35 and a beta of 0.92. Hubbell Incorporated has a 12 month low of $346.13 and a 12 month high of $481.35. The firm has a 50 day moving average price of $421.57 and a 200 day moving average price of $423.47.

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, beating analysts' consensus estimates 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 business's revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.69 EPS. As a group, equities analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend is Friday, February 28th. Hubbell's payout ratio is presently 36.77%.

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

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.