Thrivent Financial for Lutherans Grows Holdings in Hubbell Incorporated (NYSE:HUBB)

Thrivent Financial for Lutherans boosted its position in Hubbell Incorporated (NYSE:HUBB - Free Report) by 32.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,094 shares of the industrial products company's stock after buying an additional 2,713 shares during the period. Thrivent Financial for Lutherans' holdings in Hubbell were worth $4,948,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its holdings in Hubbell by 4.8% in the fourth quarter. Bank of New York Mellon Corp now owns 2,826,327 shares of the industrial products company's stock worth $1,183,920,000 after acquiring an additional 129,490 shares in the last quarter. State Street Corp increased its stake in Hubbell by 1.1% during the 3rd quarter. State Street Corp now owns 2,092,215 shares of the industrial products company's stock valued at $896,200,000 after purchasing an additional 22,507 shares in the last quarter. Geode Capital Management LLC raised its holdings in Hubbell by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,254,905 shares of the industrial products company's stock worth $535,681,000 after buying an additional 8,278 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Hubbell by 1.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 350,367 shares of the industrial products company's stock valued at $146,765,000 after buying an additional 3,586 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Hubbell by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 311,648 shares of the industrial products company's stock valued at $130,546,000 after buying an additional 8,747 shares during the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

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Hubbell Stock Performance

Shares of NYSE:HUBB traded down $10.32 during mid-day trading on Friday, reaching $331.68. The company had a trading volume of 387,277 shares, compared to its average volume of 491,801. 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 cap of $17.80 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 1.34 and a beta of 0.94. Hubbell Incorporated has a one year low of $330.32 and a one year high of $481.35. The company's 50-day moving average price is $382.09 and its 200-day moving average price is $418.74.

Hubbell (NYSE:HUBB - Get Free Report) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, topping 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 firm had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.41 billion. During the same quarter last year, the business earned $3.69 earnings per share. The company's quarterly revenue was down .9% on a year-over-year basis. As a group, equities research analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell declared that its board 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 generally a sign that the company's board of directors believes its shares are undervalued.

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a $1.32 dividend. The ex-dividend date was Friday, February 28th. This represents a $5.28 annualized dividend and a yield of 1.59%. Hubbell's dividend payout ratio is currently 36.77%.

Insider Buying and Selling at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total value of $452,865.84. Following the completion of the transaction, the insider now directly owns 4,327 shares in the company, valued at approximately $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.66% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on HUBB shares. 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. StockNews.com cut Hubbell from a "buy" rating to a "hold" rating in a research report on Wednesday. Finally, Barclays lowered their price target on Hubbell from $422.00 to $400.00 and set an "equal weight" rating for the company in a research report on Wednesday. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $462.13.

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.