Hubbell Incorporated (NYSE:HUBB) Shares Purchased by Beacon Pointe Advisors LLC

Beacon Pointe Advisors LLC increased its stake in Hubbell Incorporated (NYSE:HUBB - Free Report) by 29.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,592 shares of the industrial products company's stock after buying an additional 1,032 shares during the period. Beacon Pointe Advisors LLC's holdings in Hubbell were worth $1,924,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Creative Financial Designs Inc. ADV lifted its position in Hubbell by 85.7% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 30 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of Hubbell in the fourth quarter worth $30,000. Versant Capital Management Inc lifted its holdings in shares of Hubbell by 64.6% during the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company's stock valued at $33,000 after purchasing an additional 31 shares in the last quarter. Johnson Financial Group Inc. boosted its position in shares of Hubbell by 166.7% during the fourth quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock valued at $44,000 after buying an additional 65 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in Hubbell by 69.7% in the 4th quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company's stock worth $54,000 after buying an additional 53 shares in the last quarter. Institutional investors own 88.16% of the company's stock.

Insider Transactions at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total value of $452,865.84. Following the sale, the insider now directly owns 4,327 shares in the company, valued at approximately $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 can be accessed through the SEC website. Insiders own 0.66% of the company's stock.

Wall Street Analyst Weigh In

HUBB has been the topic of several research analyst reports. Barclays lowered their target price on shares of Hubbell from $422.00 to $400.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 26th. Wells Fargo & Company dropped their target price on shares of Hubbell from $455.00 to $450.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 7th. JPMorgan Chase & Co. cut their target price on shares of Hubbell from $430.00 to $352.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Finally, StockNews.com cut Hubbell from a "buy" rating to a "hold" rating in a report on Friday, April 11th. Six research 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 a consensus rating of "Hold" and a consensus price target of $449.38.

Hubbell Price Performance

Hubbell stock traded down $1.80 during mid-day trading on Monday, hitting $354.11. The stock had a trading volume of 515,691 shares, compared to its average volume of 520,938. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The firm's 50 day moving average is $344.27 and its 200 day moving average is $402.07. The firm has a market capitalization of $19.00 billion, a P/E ratio of 24.66, a P/E/G ratio of 1.34 and a beta of 0.97. Hubbell Incorporated has a one year low of $299.43 and a one year high of $481.35.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $3.50 EPS for the quarter, missing analysts' consensus estimates of $3.73 by ($0.23). Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The business had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.39 billion. During the same period in the prior year, the firm posted $3.60 earnings per share. The firm's revenue for the quarter was down 2.4% on a year-over-year basis. On average, sell-side analysts forecast that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

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

Hubbell Dividend Announcement

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 $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date is Friday, May 30th. Hubbell's payout ratio is 35.72%.

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.