Portfolio Design Labs LLC Acquires Shares of 731 Hubbell Incorporated (NYSE:HUBB)

Portfolio Design Labs LLC acquired a new stake in Hubbell Incorporated (NYSE:HUBB) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 731 shares of the industrial products company’s stock, valued at approximately $306,000.

Other large investors have also recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC acquired a new position in Hubbell in the 4th quarter valued at approximately $30,000. Prospera Private Wealth LLC acquired a new position in Hubbell in the 3rd quarter valued at approximately $33,000. Versant Capital Management Inc increased its stake in Hubbell by 64.6% in 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 period. Ashton Thomas Securities LLC acquired a new position in Hubbell in the 3rd quarter valued at approximately $41,000. Finally, Northwest Investment Counselors LLC acquired a new position in Hubbell in the 3rd quarter valued at approximately $58,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Price Performance

NYSE HUBB opened at $391.07 on Thursday. The company has a current ratio of 1.64, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. The company has a fifty day simple moving average of $430.98 and a 200 day simple moving average of $423.43. The company has a market cap of $20.99 billion, a P/E ratio of 27.23, a P/E/G ratio of 1.36 and a beta of 0.92. Hubbell Incorporated has a 1 year low of $346.13 and a 1 year high of $481.35.

Hubbell (NYSE:HUBB) 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 the consensus estimate of $4.02 by $0.08. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the prior year, the firm earned $3.69 EPS. Hubbell’s quarterly revenue was down .9% compared to the same quarter last year. On average, sell-side 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 repurchase $500.00 million in shares. This repurchase authorization authorizes the industrial products company to purchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 1.35%. The ex-dividend date is Friday, February 28th. Hubbell’s dividend payout ratio (DPR) is presently 36.77%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on HUBB shares. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and dropped their price target for the stock from $493.00 to $473.00 in a research note on Tuesday, November 26th. Barclays increased their price target on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Sanford C. Bernstein started coverage on shares of Hubbell in a research note on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price target on the stock. Morgan Stanley increased their price target on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Tuesday, January 28th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $471.50.

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.