ProShare Advisors LLC Has $3.25 Million Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

ProShare Advisors LLC boosted its holdings in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 14.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,755 shares of the industrial products company's stock after buying an additional 955 shares during the quarter. ProShare Advisors LLC's holdings in Hubbell were worth $3,248,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of HUBB. Creative Financial Designs Inc. ADV boosted its holdings 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 valued at $27,000 after acquiring an additional 30 shares during the period. Stonebridge Financial Group LLC acquired a new stake in shares of Hubbell during the fourth quarter worth approximately $30,000. Johnson Financial Group Inc. increased its holdings in shares of Hubbell by 166.7% during the fourth quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock worth $44,000 after buying an additional 65 shares in the last quarter. Venturi Wealth Management LLC increased its holdings in shares of Hubbell by 69.7% during the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company's stock worth $54,000 after buying an additional 53 shares in the last quarter. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Hubbell during the fourth quarter worth approximately $69,000. 88.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on HUBB shares. StockNews.com cut shares of Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. JPMorgan Chase & Co. boosted their price target on shares of Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a research report on Friday. Finally, Barclays dropped their target price on shares of 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 company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $457.50.

Insider Activity at Hubbell

In other news, CEO Gerben Bakker sold 7,723 shares of the firm's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $384.63, for a total transaction of $2,970,497.49. Following the completion of the transaction, the chief executive officer now owns 82,101 shares of the company's stock, valued at approximately $31,578,507.63. This trade represents a 8.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, 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 transaction of $452,865.84. Following the sale, the insider now owns 4,327 shares of the company's stock, valued at approximately $1,683,462.62. This trade represents 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 insiders.

Hubbell Stock Down 0.4%

Shares of HUBB opened at $390.52 on Tuesday. The firm's 50-day simple moving average is $348.16 and its 200 day simple moving average is $396.56. Hubbell Incorporated has a 52 week low of $299.43 and a 52 week high of $481.35. The firm has a market cap of $20.84 billion, a P/E ratio of 27.19, a price-to-earnings-growth ratio of 1.34 and a beta of 0.97. 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 (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). 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 analyst estimates of $1.39 billion. During the same quarter in the previous year, the company earned $3.60 EPS. The business's revenue for the quarter was down 2.4% on a year-over-year basis. On average, analysts forecast that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The business 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. This represents a $5.28 annualized dividend and a yield of 1.35%. The ex-dividend date is Friday, May 30th. Hubbell's payout ratio is 35.72%.

Hubbell declared that its Board of Directors has initiated a share 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 repurchase up to 2.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

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.

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