D. E. Shaw & Co. Inc. Has $1.25 Million Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

D. E. Shaw & Co. Inc. increased its position in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 551.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,985 shares of the industrial products company's stock after buying an additional 2,527 shares during the quarter. D. E. Shaw & Co. Inc.'s holdings in Hubbell were worth $1,250,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC boosted its holdings in Hubbell by 122.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 28,723 shares of the industrial products company's stock worth $12,032,000 after acquiring an additional 15,806 shares during the last quarter. Smith Group Asset Management LLC grew its position in Hubbell by 1.6% in the 4th quarter. Smith Group Asset Management LLC now owns 67,042 shares of the industrial products company's stock worth $28,083,000 after purchasing an additional 1,049 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Hubbell by 25.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 190 shares of the industrial products company's stock valued at $80,000 after buying an additional 38 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in Hubbell by 28.4% in the 4th quarter. Exchange Traded Concepts LLC now owns 8,848 shares of the industrial products company's stock valued at $3,706,000 after buying an additional 1,957 shares during the last quarter. Finally, Portfolio Design Labs LLC bought a new position in shares of Hubbell during the 4th quarter worth approximately $306,000. Institutional investors own 88.16% of the company's stock.

Hubbell Price Performance

Shares of Hubbell stock opened at $389.37 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. Hubbell Incorporated has a 52-week low of $299.43 and a 52-week high of $481.35. The company has a fifty day moving average of $351.04 and a 200-day moving average of $396.17. The stock has a market capitalization of $20.78 billion, a price-to-earnings ratio of 27.11, a price-to-earnings-growth ratio of 1.34 and a beta of 0.97.

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 the consensus estimate of $3.73 by ($0.23). Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The business had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.39 billion. During the same quarter in the previous year, the company earned $3.60 earnings per share. The business's quarterly revenue was down 2.4% on a year-over-year basis. Equities research analysts expect that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell announced that its Board of Directors 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 stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Hubbell Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date is Friday, May 30th. Hubbell's payout ratio is 35.72%.

Insider Buying and Selling at Hubbell

In other Hubbell news, CEO Gerben Bakker sold 7,723 shares of the company's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $384.63, for a total value of $2,970,497.49. Following the completion of the transaction, the chief executive officer now directly owns 82,101 shares in the company, valued at approximately $31,578,507.63. This represents a 8.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on HUBB shares. Wall Street Zen cut shares of Hubbell from a "buy" rating to a "hold" rating in a research note on Friday, April 11th. Barclays dropped their price objective on 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, JPMorgan Chase & Co. raised their target price on Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $457.50.

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.

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