Union Bancaire Privee UBP SA Acquires New Holdings in Hubbell Incorporated (NYSE:HUBB)

Union Bancaire Privee UBP SA purchased a new stake in Hubbell Incorporated (NYSE:HUBB - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,802 shares of the industrial products company's stock, valued at approximately $2,878,000.

Other hedge funds also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Hubbell by 12.3% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company's stock valued at $96,000 after acquiring an additional 25 shares during the period. JGP Wealth Management LLC boosted its holdings in shares of Hubbell by 1.2% in the fourth quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company's stock valued at $884,000 after acquiring an additional 26 shares during the period. Sanctuary Advisors LLC boosted its holdings in shares of Hubbell by 0.5% in the fourth quarter. Sanctuary Advisors LLC now owns 5,422 shares of the industrial products company's stock valued at $2,313,000 after acquiring an additional 27 shares during the period. Avestar Capital LLC lifted its holdings in shares of Hubbell by 5.1% during the third quarter. Avestar Capital LLC now owns 577 shares of the industrial products company's stock worth $247,000 after purchasing an additional 28 shares during the period. Finally, Ballentine Partners LLC lifted its holdings in shares of Hubbell by 3.2% during the third quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company's stock worth $410,000 after purchasing an additional 30 shares during the period. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of the firm's 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 transaction, the insider now directly owns 4,327 shares in the company, valued at $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.66% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on HUBB shares. StockNews.com raised Hubbell from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Sanford C. Bernstein started coverage on Hubbell in a report on Tuesday, November 5th. They set an "outperform" rating and a $535.00 price target for the company. Morgan Stanley increased their price target on Hubbell from $407.00 to $445.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Wells Fargo & Company reduced their target price on Hubbell from $455.00 to $450.00 and set an "equal weight" rating for the company in a report on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft downgraded Hubbell from a "buy" rating to a "hold" rating and reduced their target price for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $471.50.

Hubbell Trading Down 2.2 %

Shares of HUBB stock traded down $8.31 during trading hours on Thursday, hitting $369.08. 486,395 shares of the company were exchanged, compared to its average volume of 631,584. The firm has a fifty day moving average of $415.98 and a 200 day moving average of $424.05. The firm has a market cap of $19.81 billion, a PE ratio of 25.70, a PEG ratio of 1.34 and a beta of 0.92. Hubbell Incorporated has a 1 year low of $346.13 and a 1 year 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 earnings results 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 firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter in the prior year, the company earned $3.69 EPS. The company's revenue was down .9% on a year-over-year basis. Analysts expect that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell declared that its Board of Directors has initiated a stock buyback program on Wednesday, February 12th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the industrial products company to purchase up to 2.4% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board of directors believes its stock is undervalued.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend is Friday, February 28th. Hubbell's dividend payout ratio (DPR) is 36.77%.

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.