Erste Asset Management GmbH Boosts Stock Position in Hubbell Incorporated (NYSE:HUBB)

Erste Asset Management GmbH grew its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 50.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,205 shares of the industrial products company’s stock after buying an additional 6,455 shares during the quarter. Erste Asset Management GmbH’s holdings in Hubbell were worth $8,107,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Mizuho Securities USA LLC boosted its stake in Hubbell by 192,421.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock valued at $3,418,233,000 after acquiring an additional 7,975,855 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Hubbell by 4.8% during the fourth 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 last quarter. State Street Corp grew its stake in Hubbell by 1.1% in the third quarter. State Street Corp now owns 2,092,215 shares of the industrial products company’s stock worth $896,200,000 after purchasing an additional 22,507 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Hubbell by 6.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,417,476 shares of the industrial products company’s stock valued at $607,176,000 after buying an additional 82,258 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Hubbell by 0.7% during the third quarter. Geode Capital Management LLC now owns 1,254,905 shares of the industrial products company’s stock valued at $535,681,000 after buying an additional 8,278 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Analyst Upgrades and Downgrades

HUBB has been the subject of several research reports. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Wells Fargo & Company lowered their target price on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. 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. Finally, Barclays dropped their price objective on shares of Hubbell from $475.00 to $422.00 and set an “equal weight” rating on the stock in a research note on Monday, March 3rd. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $464.88.

Insider Activity at Hubbell

In other Hubbell 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 completion of the transaction, the insider now directly owns 4,327 shares of the company’s stock, valued at approximately $1,683,462.62. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.66% of the stock is currently owned by insiders.

Hubbell Price Performance

NYSE HUBB opened at $331.53 on Friday. The company has a 50-day moving average price of $399.47 and a two-hundred day moving average price of $421.64. The stock has a market cap of $17.79 billion, a price-to-earnings ratio of 23.09, a price-to-earnings-growth ratio of 1.34 and a beta of 0.94. 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 52 week low of $330.32 and a 52 week high of $481.35.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 EPS for the quarter, beating the consensus estimate of $4.02 by $0.08. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The firm had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same period last year, the firm earned $3.69 EPS. The firm’s revenue was down .9% compared to the same quarter last year. Analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.59%. The ex-dividend date is Friday, February 28th. Hubbell’s payout ratio is currently 36.77%.

Hubbell declared that its Board of Directors has authorized a stock buyback plan on Wednesday, February 12th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the industrial products company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

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.