Tema Etfs LLC Makes New Investment in Hubbell Incorporated (NYSE:HUBB)

Tema Etfs LLC bought a new position in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,512 shares of the industrial products company's stock, valued at approximately $633,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Creative Financial Designs Inc. ADV raised 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 acquiring an additional 30 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in shares of Hubbell in the fourth quarter valued at approximately $30,000. Johnson Financial Group Inc. increased its stake in shares of Hubbell by 166.7% in 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 period. Venturi Wealth Management LLC increased its stake in shares of Hubbell by 69.7% in the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company's stock valued at $54,000 after buying an additional 53 shares during the period. Finally, Golden State Wealth Management LLC acquired a new position in shares of Hubbell in the fourth quarter valued at approximately $69,000. 88.16% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Gerben Bakker sold 7,723 shares of the stock in a transaction 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 approximately $31,578,507.63. This represents a 8.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total value of $452,865.84. Following the completion of the sale, the insider now directly owns 4,327 shares of the company's stock, valued at $1,683,462.62. The trade was a 21.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on HUBB shares. StockNews.com downgraded Hubbell from a "buy" rating to a "hold" rating in a research note on Friday, April 11th. JPMorgan Chase & Co. upped their price objective on Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a research note on Friday. Finally, Barclays lowered their price objective on Hubbell from $422.00 to $400.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 26th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $457.50.

Hubbell Trading Down 0.3%

NYSE:HUBB traded down $1.30 on Tuesday, reaching $389.47. 434,420 shares of the stock traded hands, compared to its average volume of 531,868. The firm has a market capitalization of $20.79 billion, a price-to-earnings ratio of 27.12, a price-to-earnings-growth ratio of 1.34 and a beta of 0.97. The company's 50 day moving average is $349.32 and its 200-day moving average is $396.51. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. 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 posted 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). Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the previous year, the company posted $3.60 earnings per share. Hubbell's quarterly revenue was down 2.4% on a year-over-year basis. Equities research analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the industrial products company to purchase up to 2.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board of directors believes its stock is undervalued.

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors 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 dividend yield of 1.36%. The ex-dividend date of this dividend is Friday, May 30th. Hubbell's dividend payout ratio is currently 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.