LGT Capital Partners LTD. Boosts Stake in Hubbell Incorporated (NYSE:HUBB)

LGT Capital Partners LTD. lifted its holdings in Hubbell Incorporated (NYSE:HUBB) by 0.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 93,470 shares of the industrial products company’s stock after buying an additional 820 shares during the period. Hubbell makes up 1.5% of LGT Capital Partners LTD.’s holdings, making the stock its 23rd biggest position. LGT Capital Partners LTD. owned 0.17% of Hubbell worth $39,154,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of HUBB. Janney Montgomery Scott LLC lifted its stake in shares of Hubbell by 5.2% in the third quarter. Janney Montgomery Scott LLC now owns 12,917 shares of the industrial products company’s stock worth $5,533,000 after buying an additional 640 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Hubbell by 11.0% in the third quarter. Van ECK Associates Corp now owns 9,741 shares of the industrial products company’s stock worth $4,332,000 after buying an additional 966 shares in the last quarter. Impax Asset Management Group plc raised its stake in Hubbell by 30.3% during the third quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock worth $514,377,000 after purchasing an additional 279,654 shares during the period. Concurrent Investment Advisors LLC boosted its holdings in Hubbell by 3.1% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 1,280 shares of the industrial products company’s stock valued at $548,000 after purchasing an additional 38 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Hubbell by 7.1% in the 3rd quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company’s stock valued at $98,187,000 after purchasing an additional 15,215 shares during the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total value of $452,865.84. Following the sale, the insider now directly 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 sale was disclosed in a document filed with the SEC, which is available at this link. 0.66% of the stock is owned by insiders.

Hubbell Price Performance

Hubbell stock opened at $355.05 on Friday. The company’s 50 day simple moving average is $406.11 and its 200-day simple moving average is $423.15. The company has a market capitalization of $19.05 billion, a price-to-earnings ratio of 24.73, a price-to-earnings-growth ratio of 1.34 and a beta of 0.94. Hubbell Incorporated has a 1 year low of $337.97 and a 1 year high of $481.35. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.02 by $0.08. The business 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 business’s revenue was down .9% on a year-over-year basis. During the same period in the previous year, the firm earned $3.69 EPS. As a group, equities research analysts expect that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell announced that its Board of Directors has approved a share buyback plan on Wednesday, February 12th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the industrial products company to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be paid a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Friday, February 28th. Hubbell’s payout ratio is currently 36.77%.

Wall Street Analyst Weigh In

HUBB has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and decreased their target price for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Barclays decreased their target price on shares of Hubbell from $475.00 to $422.00 and set an “equal weight” rating on the stock in a report on Monday, March 3rd. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Finally, Wells Fargo & Company decreased their target price on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Hubbell presently has a consensus rating of “Hold” and an average price target of $464.88.

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.