Teza Capital Management LLC Makes New Investment in Hubbell Incorporated (NYSE:HUBB)

Teza Capital Management LLC acquired a new position in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 872 shares of the industrial products company's stock, valued at approximately $365,000.

A number of other hedge funds also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV lifted its holdings in shares of Hubbell by 85.7% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 30 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in Hubbell during the fourth quarter valued at $30,000. Johnson Financial Group Inc. lifted its stake in Hubbell by 166.7% in the 4th 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 in the last quarter. Venturi Wealth Management LLC boosted its position in Hubbell by 69.7% during the 4th quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company's stock worth $54,000 after acquiring an additional 53 shares during the period. Finally, Golden State Wealth Management LLC purchased a new position in Hubbell during the 4th quarter valued at about $69,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Hubbell

In related news, CEO Gerben Bakker sold 7,723 shares of the firm'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 value 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carlos M. Cardoso sold 400 shares of the business's stock in a transaction that occurred 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 completion of the sale, the director now owns 1,727 shares of the company's stock, valued at approximately $667,122.83. This trade represents a 18.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

Hubbell Stock Up 0.5%

Shares of Hubbell stock traded up $1.91 during trading on Monday, hitting $391.30. 737,739 shares of the stock traded hands, compared to its average volume of 537,876. The stock has a market cap of $20.89 billion, a P/E ratio of 27.25, a PEG ratio of 1.34 and a beta of 0.97. The company has a fifty day moving average price of $352.15 and a two-hundred day moving average price of $394.80. Hubbell Incorporated has a twelve month low of $299.43 and a twelve month high of $481.35. 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 issued its quarterly earnings data 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 business 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 revenue was down 2.4% compared to the same quarter last year. During the same period in the previous year, the business posted $3.60 EPS. Equities research analysts predict that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell declared that its board has initiated a share repurchase plan on Wednesday, February 12th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the industrial products company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Hubbell Announces Dividend

The firm 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 dividend yield of 1.35%. The ex-dividend date of this dividend is Friday, May 30th. Hubbell's payout ratio is presently 35.72%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on HUBB shares. JPMorgan Chase & Co. increased 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, May 16th. Barclays dropped 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 note on Wednesday, March 26th. Finally, Wall Street Zen downgraded shares of Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target 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.