Townsquare Capital LLC Makes New Investment in Hubbell Incorporated (NYSE:HUBB)

Townsquare Capital LLC purchased a new stake in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 2,694 shares of the industrial products company's stock, valued at approximately $1,128,000.

A number of other large investors have also added to or reduced their stakes in HUBB. Creative Financial Designs Inc. ADV increased its stake in shares of Hubbell by 85.7% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock worth $27,000 after acquiring an additional 30 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in Hubbell in the fourth quarter worth about $30,000. Versant Capital Management Inc increased its stake in shares of Hubbell by 64.6% during the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company's stock valued at $33,000 after purchasing an additional 31 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings 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 bought a new stake in shares of Hubbell in the 4th quarter worth approximately $69,000. Institutional investors own 88.16% of the company's stock.

Hubbell Stock Performance

NYSE:HUBB traded up $15.62 on Wednesday, hitting $356.14. The stock had a trading volume of 121,452 shares, compared to its average volume of 516,769. The business's 50-day simple moving average is $348.81 and its two-hundred day simple moving average is $407.65. The stock has a market cap of $19.11 billion, a price-to-earnings ratio of 24.80, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. Hubbell Incorporated has a 52-week low of $299.43 and a 52-week high of $481.35. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44.

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, 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 company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter last year, the firm posted $3.69 earnings per share. The firm's revenue was down .9% compared to the same quarter last year. As a group, research analysts predict that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell declared that its board has authorized a stock buyback 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 repurchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Friday, February 28th. Hubbell's dividend payout ratio (DPR) is currently 36.77%.

Insider Activity

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $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 is available through the SEC website. Insiders own 0.66% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on HUBB. Wells Fargo & Company reduced their price target 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. Barclays decreased their price target on Hubbell from $422.00 to $400.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 26th. JPMorgan Chase & Co. dropped their price objective on Hubbell from $430.00 to $352.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Finally, StockNews.com lowered Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $449.38.

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.