Hubbell Incorporated (NYSE:HUBB) Shares Acquired by BNP Paribas Financial Markets

BNP Paribas Financial Markets lifted its stake in Hubbell Incorporated (NYSE:HUBB - Free Report) by 56.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 101,293 shares of the industrial products company's stock after acquiring an additional 36,396 shares during the quarter. BNP Paribas Financial Markets owned 0.19% of Hubbell worth $42,431,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Creative Financial Designs Inc. ADV lifted its stake in Hubbell by 85.7% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock worth $27,000 after purchasing an additional 30 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in Hubbell during the 4th quarter worth about $30,000. Johnson Financial Group Inc. boosted its holdings in Hubbell by 166.7% during the 4th quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock valued at $44,000 after acquiring an additional 65 shares during the period. Venturi Wealth Management LLC grew its position in Hubbell by 69.7% in the 4th quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company's stock valued at $54,000 after acquiring an additional 53 shares in the last quarter. Finally, Golden State Wealth Management LLC purchased a new stake in Hubbell during the fourth quarter worth about $69,000. Hedge funds and other institutional investors own 88.16% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on HUBB shares. JPMorgan Chase & Co. lowered their price objective on shares of Hubbell from $430.00 to $352.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Barclays decreased their price target on shares of Hubbell from $422.00 to $400.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 26th. Finally, StockNews.com cut Hubbell from a "buy" rating to a "hold" rating in a research note on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $449.38.

Insider Activity at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the firm'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 transaction, the insider now owns 4,327 shares of the company's stock, valued at approximately $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.66% of the company's stock.

Hubbell Stock Up 0.6 %

NYSE:HUBB traded up $2.09 during trading hours on Friday, hitting $356.66. The company's stock had a trading volume of 465,706 shares, compared to its average volume of 523,802. Hubbell Incorporated has a 52-week low of $299.43 and a 52-week high of $481.35. 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 stock has a market capitalization of $19.14 billion, a P/E ratio of 24.84, a price-to-earnings-growth ratio of 1.34 and a beta of 0.97. The stock has a fifty day moving average of $343.12 and a 200-day moving average of $398.99.

Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly earnings data 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). The business had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.39 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The company's revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.60 EPS. On average, equities analysts forecast that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

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

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

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.