FORA Capital LLC Takes $1.13 Million Position in Hubbell Incorporated (NYSE:HUBB)

FORA Capital LLC purchased a new position in Hubbell Incorporated (NYSE:HUBB - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,699 shares of the industrial products company's stock, valued at approximately $1,131,000.

A number of other large investors have also modified their holdings of the business. Norges Bank purchased a new position in shares of Hubbell in the 4th quarter valued at approximately $195,218,000. Marshall Wace LLP increased its stake in Hubbell by 418.1% during the 4th quarter. Marshall Wace LLP now owns 307,050 shares of the industrial products company's stock valued at $128,620,000 after purchasing an additional 247,786 shares in the last quarter. Bain Capital Public Equity Management II LLC purchased a new position in shares of Hubbell in the fourth quarter worth $95,868,000. Raymond James Financial Inc. purchased a new position in shares of Hubbell in the fourth quarter worth $63,647,000. Finally, Ameriprise Financial Inc. lifted its stake in shares of Hubbell by 80.1% during the fourth quarter. Ameriprise Financial Inc. now owns 336,308 shares of the industrial products company's stock worth $140,876,000 after buying an additional 149,622 shares during the period. Hedge funds and other institutional investors own 88.16% of the company's stock.

Analysts Set New Price Targets

HUBB has been the topic of several research reports. Barclays cut their target price on Hubbell from $422.00 to $400.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 26th. JPMorgan Chase & Co. dropped their price target on Hubbell from $430.00 to $352.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. Finally, StockNews.com cut Hubbell from a "buy" rating to a "hold" rating in a research note on Friday, April 11th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $449.38.

Hubbell Stock Performance

NYSE:HUBB traded up $9.47 during mid-day trading on Tuesday, hitting $387.88. The company's stock had a trading volume of 843,224 shares, compared to its average volume of 526,987. The business's fifty day moving average is $343.61 and its two-hundred day moving average is $398.18. The stock has a market cap of $20.70 billion, a price-to-earnings ratio of 27.01, a PEG ratio of 1.34 and a beta of 0.97. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. Hubbell Incorporated has a 1 year low of $299.43 and a 1 year high of $481.35.

Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The industrial products company reported $3.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.73 by ($0.23). Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same period last year, the firm earned $3.60 EPS. The business's quarterly revenue was down 2.4% compared to the same quarter last year. Analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend is Friday, May 30th. Hubbell's payout ratio is presently 35.72%.

Hubbell declared that its board has authorized a share repurchase program on Wednesday, February 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the industrial products company to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's management believes its stock is undervalued.

Insider Transactions at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction dated Thursday, February 20th. The shares were 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 of the company's stock, valued at $1,683,462.62. This represents a 21.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.66% of the company's stock.

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.