LVM Capital Management Ltd. MI Raises Position in Hubbell Incorporated (NYSE:HUBB)

LVM Capital Management Ltd. MI lifted its position in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 7.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,495 shares of the industrial products company's stock after buying an additional 1,989 shares during the quarter. Hubbell comprises about 1.1% of LVM Capital Management Ltd. MI's holdings, making the stock its 28th largest position. LVM Capital Management Ltd. MI owned 0.05% of Hubbell worth $9,760,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Hubbell by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 6,634,705 shares of the industrial products company's stock worth $2,779,212,000 after buying an additional 65,033 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Hubbell by 4.8% during the fourth quarter. Bank of New York Mellon Corp now owns 2,826,327 shares of the industrial products company's stock worth $1,183,920,000 after acquiring an additional 129,490 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Hubbell by 6.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,510,430 shares of the industrial products company's stock worth $632,704,000 after purchasing an additional 92,954 shares during the period. Invesco Ltd. increased its stake in Hubbell by 1.9% in the fourth quarter. Invesco Ltd. now owns 1,490,479 shares of the industrial products company's stock valued at $624,347,000 after purchasing an additional 27,914 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Hubbell by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 1,284,506 shares of the industrial products company's stock valued at $536,641,000 after purchasing an additional 29,601 shares during the period. Institutional investors own 88.16% of the company's stock.

Analysts Set New Price Targets

HUBB has been the subject of a number of research analyst reports. Wall Street Zen lowered Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. Barclays cut their price target 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. Finally, JPMorgan Chase & Co. increased 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. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $457.50.

Hubbell Stock Performance

HUBB stock traded up $9.15 during midday trading on Tuesday, hitting $390.49. The company's stock had a trading volume of 576,177 shares, compared to its average volume of 542,373. Hubbell Incorporated has a 1 year low of $299.43 and a 1 year high of $481.35. The stock has a market cap of $20.84 billion, a price-to-earnings ratio of 27.19, a PEG ratio of 1.34 and a beta of 0.97. The stock's 50-day moving average price is $357.81 and its 200 day moving average price is $392.26. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44.

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 for the quarter, missing the consensus estimate of $3.73 by ($0.23). The company had revenue of $1.37 billion for 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%. Hubbell's quarterly 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 EPS for the current year.

Hubbell Dividend Announcement

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

Hubbell announced that its Board of Directors has approved a share buyback plan on Wednesday, February 12th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the industrial products company to purchase up to 2.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling at Hubbell

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

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.