Y Intercept Hong Kong Ltd Acquires Shares of 2,697 Hubbell Incorporated (NYSE:HUBB)

Y Intercept Hong Kong Ltd acquired a new stake in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 2,697 shares of the industrial products company's stock, valued at approximately $1,130,000.

Several other large investors have also bought and sold shares of the company. Groupama Asset Managment boosted its position in shares of Hubbell by 17.0% in the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company's stock worth $30,000 after purchasing an additional 1,010 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in Hubbell in the 4th quarter worth approximately $30,000. Prospera Private Wealth LLC purchased a new stake in Hubbell during the 3rd quarter valued at $33,000. Versant Capital Management Inc raised its stake in Hubbell by 64.6% during the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company's stock valued at $33,000 after buying an additional 31 shares during the last quarter. Finally, Ashton Thomas Securities LLC purchased a new stake in Hubbell during the 3rd quarter valued at $41,000. 88.16% of the stock is owned by institutional investors.

Insider Transactions at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the 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 owns 4,327 shares of the company's stock, valued at approximately $1,683,462.62. This represents a 21.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.66% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on HUBB shares. Deutsche Bank Aktiengesellschaft cut Hubbell from a "buy" rating to a "hold" rating and lowered their price objective for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. Wells Fargo & Company decreased their price objective on Hubbell from $455.00 to $450.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 7th. 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 on the stock. Barclays increased their price target on Hubbell from $402.00 to $475.00 and gave the company an "equal weight" rating in a report on Thursday, December 5th. Finally, StockNews.com upgraded Hubbell from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $471.50.

Hubbell Trading Up 0.6 %

HUBB stock traded up $2.24 during midday trading on Friday, reaching $371.51. The company's stock had a trading volume of 550,777 shares, compared to its average volume of 629,510. 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 stock has a fifty day simple moving average of $413.77 and a two-hundred day simple moving average of $423.99. Hubbell Incorporated has a 1 year low of $346.13 and a 1 year high of $481.35. The firm has a market capitalization of $19.94 billion, a price-to-earnings ratio of 25.87, a PEG ratio of 1.34 and a beta of 0.92.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly 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 return on equity of 28.62% and a net margin of 13.82%. The business had revenue of $1.33 billion for 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 business's revenue was down .9% compared to the same quarter last year. On average, equities research analysts predict that Hubbell Incorporated will post 17.63 EPS for the current year.

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

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date is Friday, February 28th. Hubbell's payout ratio is 36.77%.

Hubbell 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.