Quantinno Capital Management LP Purchases 3,638 Shares of Hubbell Incorporated (NYSE:HUBB)

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

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

Insider Buying and Selling at Hubbell

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 shares were 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 directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Alyssa R. Flynn sold 1,164 shares of the firm's 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 transaction, the insider now owns 4,327 shares in the company, valued at $1,683,462.62. The trade was a 21.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.66% of the company's stock.

Hubbell Trading Up 1.4%

Shares of NYSE HUBB opened at $392.16 on Monday. Hubbell Incorporated has a 1-year low of $299.43 and a 1-year high of $481.35. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. The business's 50 day moving average is $347.05 and its two-hundred day moving average is $396.80. The stock has a market capitalization of $20.93 billion, a P/E ratio of 27.31, a PEG ratio of 1.34 and a beta of 0.97.

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

Hubbell declared that its board has approved a share repurchase 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 buy up to 2.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board believes its stock is undervalued.

Hubbell Dividend Announcement

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

Wall Street Analyst Weigh In

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

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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