Vanguard Group Inc. Grows Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Vanguard Group Inc. raised its holdings in Hubbell Incorporated (NYSE:HUBB - Free Report) by 1.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,634,705 shares of the industrial products company's stock after buying an additional 65,033 shares during the quarter. Vanguard Group Inc. owned about 12.36% of Hubbell worth $2,779,212,000 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 lifted its position in shares of Hubbell by 4.8% in the 4th 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 purchasing an additional 129,490 shares during the period. State Street Corp raised its position in shares of Hubbell by 1.1% in the 3rd quarter. State Street Corp now owns 2,092,215 shares of the industrial products company's stock worth $896,200,000 after acquiring an additional 22,507 shares in the last quarter. Geode Capital Management LLC raised its holdings in Hubbell by 0.7% in 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 purchasing an additional 8,278 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Hubbell by 1.0% during the 4th 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. lifted its position in Hubbell by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 311,648 shares of the industrial products company's stock valued at $130,546,000 after acquiring an additional 8,747 shares during the period. Institutional investors own 88.16% of the company's stock.

Remove Ads

Insiders Place Their Bets

In other news, insider Alyssa R. Flynn sold 1,164 shares of the business's stock in a transaction on 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 of the company's stock, valued at $1,683,462.62. The trade was a 21.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.66% of the company's stock.

Hubbell Stock Performance

NYSE:HUBB traded down $10.32 during mid-day trading on Friday, reaching $331.68. The company's stock had a trading volume of 387,277 shares, compared to its average volume of 492,605. 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 stock has a market cap of $17.80 billion, a P/E ratio of 23.10, a PEG ratio of 1.34 and a beta of 0.94. The firm's fifty day moving average price is $379.97 and its two-hundred day moving average price is $418.68. Hubbell Incorporated has a 12-month low of $330.32 and a 12-month high of $481.35.

Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, beating analysts' consensus estimates of $4.02 by $0.08. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The firm's revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.69 earnings per share. On average, equities analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell declared that its board has approved a stock repurchase program on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its shares are undervalued.

Hubbell Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on HUBB shares. StockNews.com lowered Hubbell from a "buy" rating to a "hold" rating in a research report on Wednesday. Wells Fargo & Company cut their price objective on shares of Hubbell from $455.00 to $450.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 7th. Finally, Barclays decreased their target price on shares of Hubbell from $422.00 to $400.00 and set an "equal weight" rating for the company in a report on Wednesday. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Hubbell currently has an average rating of "Hold" and an average target price of $462.13.

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.