PFG Advisors Purchases 230 Shares of Hubbell Incorporated (NYSE:HUBB)

PFG Advisors lifted its position in Hubbell Incorporated (NYSE:HUBB) by 3.3% during the 4th quarter, Holdings Channel reports. The firm owned 7,104 shares of the industrial products company’s stock after buying an additional 230 shares during the quarter. PFG Advisors’ holdings in Hubbell were worth $2,976,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Groupama Asset Managment grew its holdings 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 during the last quarter. Stonebridge Financial Group LLC acquired a new position in Hubbell during the 4th quarter worth about $30,000. Prospera Private Wealth LLC acquired a new position in Hubbell during the 3rd quarter worth about $33,000. Versant Capital Management Inc lifted its position in Hubbell by 64.6% during the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after buying an additional 31 shares in the last quarter. Finally, Ashton Thomas Securities LLC acquired a new position in Hubbell during the 3rd quarter worth about $41,000. Institutional investors own 88.16% of the company’s stock.

Insider Activity at Hubbell

In related 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 in the company, valued at $1,683,462.62. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.66% of the stock is currently owned by corporate insiders.

Hubbell Stock Performance

Hubbell stock opened at $334.67 on Thursday. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. Hubbell Incorporated has a 1 year low of $332.97 and a 1 year high of $481.35. The company has a market cap of $17.96 billion, a PE ratio of 23.31, a PEG ratio of 1.34 and a beta of 0.94. The company’s 50-day moving average is $401.24 and its two-hundred day moving average is $422.27.

Hubbell (NYSE:HUBB) last released its 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. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The company had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the prior year, the company posted $3.69 EPS. The company’s revenue was down .9% compared to the same quarter last year. Equities analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell announced that its Board of Directors has authorized a share repurchase 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 purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be given a $1.32 dividend. The ex-dividend date is Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.58%. Hubbell’s dividend payout ratio is 36.77%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on HUBB. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a “buy” rating to a “hold” rating and reduced their price target for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. Wells Fargo & Company reduced their price target 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 reduced their price target on shares of Hubbell from $475.00 to $422.00 and set an “equal weight” rating on the stock in a research report on Monday, March 3rd. Five 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 a consensus target price 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.