Ninepoint Partners LP Purchases Shares of 1,699 Hubbell Incorporated (NYSE:HUBB)

Ninepoint Partners LP acquired a new position in Hubbell Incorporated (NYSE:HUBB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,699 shares of the industrial products company’s stock, valued at approximately $712,000.

Several other hedge funds and other institutional investors have also modified their holdings of HUBB. Atria Investments Inc grew its stake in shares of Hubbell by 2.2% in the third quarter. Atria Investments Inc now owns 2,689 shares of the industrial products company’s stock worth $1,152,000 after acquiring an additional 59 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in Hubbell by 37.0% in the third quarter. Oppenheimer Asset Management Inc. now owns 1,321 shares of the industrial products company’s stock worth $566,000 after purchasing an additional 357 shares during the period. Oppenheimer & Co. Inc. bought a new position in Hubbell in the third quarter worth $255,000. Huntington National Bank lifted its position in Hubbell by 11.4% in the third quarter. Huntington National Bank now owns 860 shares of the industrial products company’s stock worth $368,000 after purchasing an additional 88 shares during the period. Finally, Metis Global Partners LLC lifted its position in Hubbell by 52.7% in the third quarter. Metis Global Partners LLC now owns 2,578 shares of the industrial products company’s stock worth $1,104,000 after purchasing an additional 890 shares during the period. Institutional investors and hedge funds own 88.16% of the company’s stock.

Insider Transactions at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of the company’s 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 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.66% of the stock is currently owned by insiders.

Hubbell Trading Up 2.9 %

Shares of Hubbell stock opened at $341.52 on Friday. Hubbell Incorporated has a 12-month low of $330.32 and a 12-month high of $481.35. The stock has a market cap of $18.33 billion, a P/E ratio of 23.78, a P/E/G ratio of 1.34 and a beta of 0.94. 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 business’s 50 day moving average is $397.69 and its 200-day moving average is $421.57.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $4.02 by $0.08. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the prior year, the business earned $3.69 EPS. The firm’s revenue for the quarter was down .9% on a year-over-year basis. Equities research analysts predict that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell declared that its Board of Directors has initiated a share buyback program on Wednesday, February 12th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the industrial products company to purchase up to 2.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.55%. The ex-dividend date is Friday, February 28th. Hubbell’s dividend payout ratio (DPR) is currently 36.77%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Barclays cut their price objective on Hubbell from $475.00 to $422.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Wells Fargo & Company cut their price target on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Finally, Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and cut their price target for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $464.88.

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.