TCW Group Inc. Makes New $6.96 Million Investment in Hubbell Incorporated (NYSE:HUBB)

TCW Group Inc. acquired a new stake in Hubbell Incorporated (NYSE:HUBB - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 16,621 shares of the industrial products company's stock, valued at approximately $6,962,000.

Other large investors have also bought and sold shares of the company. Stonebridge Financial Group LLC acquired a new position in shares of Hubbell during the fourth quarter worth about $30,000. Prospera Private Wealth LLC acquired a new position in Hubbell during the 3rd quarter worth approximately $33,000. Versant Capital Management Inc grew its stake in shares of 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 in the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Hubbell during the 3rd quarter worth approximately $41,000. Finally, Venturi Wealth Management LLC raised its holdings 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 last quarter. 88.16% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HUBB. Sanford C. Bernstein initiated 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 Hubbell from a "buy" rating to a "hold" rating and cut their price objective for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Wells Fargo & Company lowered their target price on shares of Hubbell from $455.00 to $450.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 7th. Barclays upped their price target on shares of Hubbell from $402.00 to $475.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 5th. Finally, Morgan Stanley boosted their price objective on shares of Hubbell from $407.00 to $445.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $471.50.

Hubbell Price Performance

Shares of NYSE HUBB traded down $8.31 during midday trading on Thursday, reaching $369.08. The company's stock had a trading volume of 486,395 shares, compared to its average volume of 631,584. 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 company has a market cap of $19.81 billion, a P/E ratio of 25.70, a P/E/G ratio of 1.34 and a beta of 0.92. The business's 50 day moving average price is $415.98 and its two-hundred day moving average price is $424.05. Hubbell Incorporated has a fifty-two week low of $346.13 and a fifty-two week high of $481.35.

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 for the quarter, topping 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 business had revenue of $1.33 billion during the quarter, compared to analysts' expectations of $1.41 billion. During the same quarter in the prior year, the business posted $3.69 earnings per share. Hubbell's revenue was down .9% compared to the same quarter last year. On average, analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

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

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

Insider Buying and Selling at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell 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 sale, the insider now directly owns 4,327 shares in the company, valued at $1,683,462.62. The trade was a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 0.66% of the company's stock.

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.