UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Boosts Stock Position in Hubbell Incorporated (NYSE:HUBB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 22.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 273,164 shares of the industrial products company's stock after acquiring an additional 50,565 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.51% of Hubbell worth $114,426,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Janney Montgomery Scott LLC grew its holdings in Hubbell by 122.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 28,723 shares of the industrial products company's stock valued at $12,032,000 after purchasing an additional 15,806 shares during the period. Smith Group Asset Management LLC grew its holdings in Hubbell by 1.6% in the fourth quarter. Smith Group Asset Management LLC now owns 67,042 shares of the industrial products company's stock valued at $28,083,000 after purchasing an additional 1,049 shares during the period. Smartleaf Asset Management LLC grew its holdings in Hubbell by 25.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 190 shares of the industrial products company's stock valued at $80,000 after purchasing an additional 38 shares during the period. Exchange Traded Concepts LLC boosted its stake in shares of Hubbell by 28.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 8,848 shares of the industrial products company's stock worth $3,706,000 after acquiring an additional 1,957 shares during the last quarter. Finally, Portfolio Design Labs LLC acquired a new stake in shares of Hubbell in the fourth quarter worth approximately $306,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Hubbell Price Performance

Shares of HUBB traded up $1.49 on Thursday, hitting $396.71. The company's stock had a trading volume of 215,031 shares, compared to its average volume of 537,080. The company has a market capitalization of $21.17 billion, a PE ratio of 27.62, a PEG ratio of 1.34 and a beta of 0.97. 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 Incorporated has a fifty-two week low of $299.43 and a fifty-two week high of $481.35. The company has a 50 day moving average price of $355.44 and a 200 day moving average price of $394.30.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $3.50 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.39 billion. During the same period last year, the company earned $3.60 EPS. The business's revenue for the quarter was down 2.4% compared to the same quarter last year. On average, research analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell announced 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 outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be paid a $1.32 dividend. The ex-dividend date is Friday, May 30th. This represents a $5.28 annualized dividend and a dividend yield of 1.33%. Hubbell's dividend payout ratio is presently 35.72%.

Insider Activity

In other Hubbell news, Director Carlos M. Cardoso sold 400 shares of the business's stock in a transaction 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 sale, the director now directly owns 1,727 shares in the company, valued at $667,122.83. The trade was a 18.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gerben Bakker sold 7,723 shares of the business's stock in a transaction on 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 0.76% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HUBB. Barclays lowered their price target on Hubbell from $422.00 to $400.00 and set an "equal weight" rating on the stock 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. lifted their price objective on Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Hubbell has an average rating of "Hold" and a consensus target price 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.