Point72 Asset Management L.P. Takes Position in Hubbell Incorporated (NYSE:HUBB)

Point72 Asset Management L.P. bought a new stake in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 36,916 shares of the industrial products company's stock, valued at approximately $15,464,000. Point72 Asset Management L.P. owned about 0.07% of Hubbell as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Creative Financial Designs Inc. ADV boosted its position in Hubbell by 85.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 30 shares in the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of Hubbell during the fourth quarter worth about $30,000. Johnson Financial Group Inc. lifted its stake in Hubbell by 166.7% during the 4th quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock valued at $44,000 after acquiring an additional 65 shares during the period. Venturi Wealth Management LLC boosted its holdings in 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 purchasing an additional 53 shares during the last quarter. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Hubbell in the fourth quarter worth about $69,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Hubbell Stock Down 0.3%

HUBB traded down $1.30 on Tuesday, hitting $389.47. 434,420 shares of the company were exchanged, compared to its average volume of 531,867. Hubbell Incorporated has a twelve month low of $299.43 and a twelve month high of $481.35. The company has a market cap 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 has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The firm has a 50-day moving average price of $349.32 and a two-hundred day moving average price of $396.51.

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

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

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders 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 1.36%. Hubbell's dividend payout ratio is presently 35.72%.

Insider Activity at Hubbell

In other Hubbell news, CEO Gerben Bakker sold 7,723 shares of the business'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 transaction of $2,970,497.49. Following the transaction, the chief executive officer now owns 82,101 shares in the company, valued at approximately $31,578,507.63. The trade was a 8.60% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total value of $452,865.84. Following the completion of the transaction, the insider now owns 4,327 shares of the company's stock, valued at $1,683,462.62. The trade was a 21.20% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.66% of the company's stock.

Analyst Ratings Changes

HUBB has been the topic of a number of research analyst reports. StockNews.com cut shares of Hubbell from a "buy" rating to a "hold" rating in a research note on Friday, April 11th. JPMorgan Chase & Co. lifted their price target on Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a report on Friday. Finally, Barclays decreased their price objective on Hubbell from $422.00 to $400.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 26th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $457.50.

Hubbell 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.