Hubbell Incorporated (NYSE:HUBB) Stake Raised by Quantinno Capital Management LP

Quantinno Capital Management LP boosted its stake in Hubbell Incorporated (NYSE:HUBB - Free Report) by 53.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,467 shares of the industrial products company's stock after purchasing an additional 3,638 shares during the period. Quantinno Capital Management LP's holdings in Hubbell were worth $4,385,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in HUBB. Norges Bank acquired a new stake in Hubbell in the 4th quarter valued at $195,218,000. Marshall Wace LLP grew its stake in shares of Hubbell by 418.1% during the fourth quarter. Marshall Wace LLP now owns 307,050 shares of the industrial products company's stock valued at $128,620,000 after acquiring an additional 247,786 shares in the last quarter. Bain Capital Public Equity Management II LLC acquired a new stake in shares of Hubbell during the fourth quarter valued at about $95,868,000. Raymond James Financial Inc. acquired a new stake in shares of Hubbell during the fourth quarter valued at about $63,647,000. Finally, Ameriprise Financial Inc. grew its stake in shares of Hubbell by 80.1% during the fourth quarter. Ameriprise Financial Inc. now owns 336,308 shares of the industrial products company's stock valued at $140,876,000 after acquiring an additional 149,622 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Stock Up 0.5%

NYSE:HUBB traded up $1.91 during mid-day trading on Friday, reaching $391.30. The stock had a trading volume of 737,739 shares, compared to its average volume of 537,876. The company has a market capitalization of $20.89 billion, a price-to-earnings ratio of 27.25, a price-to-earnings-growth ratio of 1.34 and a beta of 0.97. Hubbell Incorporated has a 1-year low of $299.43 and a 1-year high of $481.35. The stock's 50 day simple moving average is $352.15 and its two-hundred day simple moving average is $395.30. 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 (NYSE:HUBB - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $3.50 EPS for the quarter, missing analysts' consensus estimates of $3.73 by ($0.23). The firm had revenue of $1.37 billion during 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 firm's revenue for the quarter was down 2.4% on a year-over-year basis. During the same quarter last year, the business posted $3.60 earnings per share. Equities analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current year.

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

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a $1.32 dividend. The ex-dividend date 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 is currently 35.72%.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

HUBB has been the subject of several recent analyst reports. Barclays lowered their target price 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. Wall Street Zen downgraded Hubbell from a "buy" rating to a "hold" rating in a research note on Friday, April 11th. Finally, JPMorgan Chase & Co. raised their target price on Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Hubbell 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.