Pacific Point Advisors LLC Makes New $4.49 Million Investment in Hubbell Incorporated (NYSE:HUBB)

Pacific Point Advisors LLC bought a new position in Hubbell Incorporated (NYSE:HUBB - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 11,204 shares of the industrial products company's stock, valued at approximately $4,492,000. Hubbell comprises about 2.8% of Pacific Point Advisors LLC's investment portfolio, making the stock its 5th largest position.

A number of other large investors have also made changes to their positions in the company. Creative Financial Designs Inc. ADV boosted its holdings in shares of Hubbell by 85.7% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock worth $27,000 after buying an additional 30 shares during the last quarter. Stonebridge Financial Group LLC purchased a new stake in shares of Hubbell in the 4th quarter worth $30,000. Johnson Financial Group Inc. raised its holdings in Hubbell by 166.7% in the 4th quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock worth $44,000 after purchasing an additional 65 shares during the period. Venturi Wealth Management LLC raised 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 purchasing an additional 53 shares during the period. Finally, Golden State Wealth Management LLC purchased a new position in Hubbell during the fourth quarter valued at $69,000. 88.16% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Gerben Bakker sold 7,723 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $384.63, for a total value of $2,970,497.49. Following the completion of the sale, the chief executive officer now directly owns 82,101 shares of the company's stock, valued at $31,578,507.63. This trade represents a 8.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carlos M. Cardoso sold 400 shares of the stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $386.29, for a total value of $154,516.00. Following the sale, the director now owns 1,727 shares in the company, valued at $667,122.83. The trade was a 18.81% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on HUBB. JPMorgan Chase & Co. raised their price objective on Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Barclays decreased 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. Finally, Wall Street Zen lowered shares of Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, Hubbell currently has an average rating of "Hold" and an average target price of $457.50.

Hubbell Price Performance

Shares of Hubbell stock traded up $1.91 on Friday, hitting $391.30. 737,739 shares of the company traded hands, compared to its average volume of 537,876. Hubbell Incorporated has a 52 week low of $299.43 and a 52 week high of $481.35. The business has a 50-day simple moving average of $352.15 and a 200 day simple moving average of $394.80. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. The stock has a market capitalization of $20.89 billion, a P/E ratio of 27.25, a price-to-earnings-growth ratio of 1.34 and a beta of 0.97.

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

Hubbell declared that its board has authorized a share buyback plan 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 stock through open market purchases. Stock buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $5.28 annualized dividend and a dividend yield of 1.35%. Hubbell's dividend payout ratio (DPR) is 35.72%.

Hubbell Company 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.