Bain Capital Public Equity Management II LLC Invests $95.87 Million in Hubbell Incorporated (NYSE:HUBB)

Bain Capital Public Equity Management II LLC acquired a new position in Hubbell Incorporated (NYSE:HUBB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 228,862 shares of the industrial products company's stock, valued at approximately $95,868,000. Hubbell makes up 4.3% of Bain Capital Public Equity Management II LLC's investment portfolio, making the stock its 13th largest position. Bain Capital Public Equity Management II LLC owned 0.43% of Hubbell at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Norges Bank purchased a new position in Hubbell during the fourth quarter valued at approximately $195,218,000. Marshall Wace LLP raised its position in shares of 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 during the period. Raymond James Financial Inc. purchased a new position in shares of Hubbell during the 4th quarter valued at $63,647,000. Ameriprise Financial Inc. boosted its holdings in Hubbell by 80.1% in the 4th 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. Finally, Bank of New York Mellon Corp increased its stake in Hubbell by 4.8% in the 4th 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 buying an additional 129,490 shares in the last quarter. 88.16% of the stock is owned by institutional investors.

Hubbell Stock Performance

Shares of NYSE:HUBB opened at $355.68 on Friday. The firm has a fifty day simple moving average of $344.27 and a two-hundred day simple moving average of $402.45. 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 stock has a market capitalization of $19.09 billion, a P/E ratio of 24.77, a PEG ratio of 1.34 and a beta of 0.97. Hubbell Incorporated has a 52 week low of $299.43 and a 52 week 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 for the quarter, missing the consensus estimate of $3.73 by ($0.23). The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.39 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The company's revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.60 earnings per share. On average, analysts expect that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.48%. The ex-dividend date is Friday, May 30th. Hubbell's payout ratio is 35.72%.

Hubbell declared that its Board of Directors has approved a stock buyback plan on Wednesday, February 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the industrial products company to buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the company's stock in a transaction that occurred 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 transaction, the insider now owns 4,327 shares of the company's stock, valued at approximately $1,683,462.62. This represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.66% of the company's stock.

Analyst Ratings Changes

HUBB has been the subject of a number of recent analyst reports. StockNews.com lowered Hubbell from a "buy" rating to a "hold" rating in a research note on Friday, April 11th. JPMorgan Chase & Co. dropped their price target on Hubbell from $430.00 to $352.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Barclays reduced their price objective on shares of Hubbell from $422.00 to $400.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 26th. Finally, Wells Fargo & Company dropped 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 report on Tuesday, January 7th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Hubbell currently has an average rating of "Hold" and an average target price of $449.38.

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.

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