Blueprint Investment Partners LLC Purchases Shares of 4,421 Hubbell Incorporated (NYSE:HUBB)

Blueprint Investment Partners LLC acquired a new stake in Hubbell Incorporated (NYSE:HUBB) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 4,421 shares of the industrial products company’s stock, valued at approximately $1,852,000.

Other hedge funds have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Hubbell by 268.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 231,130 shares of the industrial products company’s stock valued at $99,005,000 after buying an additional 168,380 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Hubbell in the 4th quarter worth $63,647,000. Bank of New York Mellon Corp raised its holdings in shares of Hubbell by 4.8% in the fourth quarter. Bank of New York Mellon Corp now owns 2,826,327 shares of the industrial products company’s stock valued at $1,183,920,000 after purchasing an additional 129,490 shares during the last quarter. Proficio Capital Partners LLC bought a new position in shares of Hubbell during the fourth quarter valued at about $40,533,000. Finally, Vontobel Holding Ltd. boosted its holdings in Hubbell by 9,720.7% during the fourth quarter. Vontobel Holding Ltd. now owns 74,048 shares of the industrial products company’s stock worth $31,018,000 after purchasing an additional 73,294 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Price Performance

NYSE HUBB opened at $338.08 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. The company has a market cap of $18.14 billion, a PE ratio of 23.54, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. Hubbell Incorporated has a 52 week low of $330.32 and a 52 week high of $481.35. The firm’s 50-day simple moving average is $388.41 and its two-hundred day simple moving average is $419.73.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 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 analysts’ expectations of $1.41 billion. During the same period in the prior year, the company posted $3.69 EPS. Hubbell’s revenue was down .9% compared to the same quarter last year. Research analysts predict that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were given a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.56%. The ex-dividend date was Friday, February 28th. Hubbell’s dividend payout ratio (DPR) is presently 36.77%.

Hubbell declared that its Board of Directors has approved a stock repurchase 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 usually an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have commented on HUBB. Barclays dropped their target price 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. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Wells Fargo & Company reduced their price objective on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and lowered their target price for the stock from $493.00 to $473.00 in a research note on Tuesday, November 26th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Hubbell presently has a consensus rating of “Hold” and a consensus price target of $464.88.

Insider Buying and Selling

In other news, insider Alyssa R. Flynn sold 1,164 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $389.06, for a total transaction 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 represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.78% of the stock is currently owned by insiders.

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.