RWC Asset Management LLP Takes Position in Hubbell Incorporated (NYSE:HUBB)

RWC Asset Management LLP bought a new stake in Hubbell Incorporated (NYSE:HUBB - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 53,414 shares of the industrial products company's stock, valued at approximately $22,375,000. RWC Asset Management LLP owned 0.10% of Hubbell as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in HUBB. Groupama Asset Managment grew its stake in Hubbell by 17.0% during the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company's stock worth $30,000 after buying an additional 1,010 shares during the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of Hubbell during the fourth quarter valued at approximately $30,000. Prospera Private Wealth LLC acquired a new position in Hubbell in the third quarter valued at approximately $33,000. Versant Capital Management Inc lifted its holdings in Hubbell by 64.6% in the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company's stock valued at $33,000 after buying an additional 31 shares during the period. Finally, Ashton Thomas Securities LLC acquired a new stake in Hubbell in the third quarter worth $41,000. Institutional investors 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 firm's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $389.06, for a total transaction of $452,865.84. Following the completion of the sale, the insider now owns 4,327 shares in the company, valued at approximately $1,683,462.62. This trade represents a 21.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.66% of the stock is currently owned by corporate insiders.

Hubbell Stock Performance

Shares of HUBB traded down $8.31 during midday trading on Thursday, reaching $369.08. The stock had a trading volume of 486,395 shares, compared to its average volume of 631,584. The firm has a 50 day simple moving average of $415.98 and a 200-day simple moving average of $424.05. Hubbell Incorporated has a one year low of $346.13 and a one year high of $481.35. The firm has a market cap of $19.81 billion, a PE ratio of 25.70, a P/E/G ratio of 1.34 and a beta of 0.92. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44.

Hubbell (NYSE:HUBB - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter last year, the firm posted $3.69 EPS. The company's quarterly revenue was down .9% on a year-over-year basis. As a group, sell-side analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell announced that its Board of Directors has authorized a stock repurchase program on Wednesday, February 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the industrial products company to buy up to 2.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its shares are undervalued.

Hubbell Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.43%. The ex-dividend date of this dividend is Friday, February 28th. Hubbell's dividend payout ratio is presently 36.77%.

Wall Street Analyst Weigh In

HUBB has been the topic of several analyst reports. StockNews.com upgraded shares of Hubbell from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Wells Fargo & Company decreased their target price on shares of Hubbell from $455.00 to $450.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a "buy" rating to a "hold" rating and decreased their target price for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. Morgan Stanley raised their target price 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. Finally, Barclays raised their target price on shares of Hubbell from $402.00 to $475.00 and gave the company an "equal weight" rating in a research report on Thursday, December 5th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $471.50.

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.