California State Teachers Retirement System Grows Position in Hubbell Incorporated (NYSE:HUBB)

California State Teachers Retirement System boosted its stake in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 81,619 shares of the industrial products company's stock after purchasing an additional 980 shares during the quarter. California State Teachers Retirement System owned about 0.15% of Hubbell worth $34,189,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Huntington National Bank increased its position in shares of Hubbell by 3.0% in the fourth quarter. Huntington National Bank now owns 886 shares of the industrial products company's stock valued at $371,000 after buying an additional 26 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its holdings in Hubbell by 0.4% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 6,515 shares of the industrial products company's stock worth $2,757,000 after purchasing an additional 26 shares during the period. Sanctuary Advisors LLC increased its holdings in shares of Hubbell by 0.5% in the 4th quarter. Sanctuary Advisors LLC now owns 5,422 shares of the industrial products company's stock valued at $2,313,000 after acquiring an additional 27 shares during the last quarter. Mindset Wealth Management LLC increased its holdings in shares of Hubbell by 1.7% in the 4th quarter. Mindset Wealth Management LLC now owns 1,655 shares of the industrial products company's stock valued at $693,000 after acquiring an additional 27 shares during the last quarter. Finally, BHK Investment Advisors LLC grew its stake in Hubbell by 2.3% during the 4th quarter. BHK Investment Advisors LLC now owns 1,351 shares of the industrial products company's stock worth $566,000 after buying an additional 30 shares during the last quarter. Institutional investors own 88.16% of the company's stock.

Hubbell Stock Down 1.7%

NYSE:HUBB traded down $6.81 on Friday, hitting $390.13. 1,127,934 shares of the company's stock were exchanged, compared to its average volume of 542,403. The firm has a 50-day moving average price of $357.11 and a 200-day moving average price of $393.40. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. Hubbell Incorporated has a 52 week low of $299.43 and a 52 week high of $481.35. The company has a market cap of $20.82 billion, a P/E ratio of 27.17, a price-to-earnings-growth ratio of 1.34 and a beta of 0.97.

Hubbell (NYSE:HUBB - Get Free Report) last announced its 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 business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.39 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The business's revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.60 EPS. As a group, analysts expect that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

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 paid a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $5.28 dividend on an annualized basis and a yield of 1.35%. Hubbell's dividend payout ratio (DPR) is presently 35.72%.

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

Analysts Set New Price Targets

Several analysts have recently commented on HUBB shares. Wall Street Zen cut Hubbell from a "buy" rating to a "hold" rating in a report on Friday, April 11th. Barclays reduced 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. boosted their price target on Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $457.50.

Insiders Place Their Bets

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 transaction, the chief executive officer now owns 82,101 shares in the company, 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 SEC, which is available through this hyperlink. Also, Director Carlos M. Cardoso sold 400 shares of the firm's stock in a transaction that occurred 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 transaction, the director now directly owns 1,727 shares of the company's stock, valued at approximately $667,122.83. This trade represents a 18.81% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company's stock.

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.