UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Stake in Hubbell Incorporated (NYSE:HUBB)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted 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 filing with the Securities & Exchange Commission. The firm owned 273,164 shares of the industrial products company's stock after buying an additional 50,565 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.51% of Hubbell worth $114,426,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Janney Montgomery Scott LLC lifted its holdings in shares of Hubbell by 122.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 28,723 shares of the industrial products company's stock worth $12,032,000 after purchasing an additional 15,806 shares in the last quarter. Smith Group Asset Management LLC lifted its holdings in shares of Hubbell by 1.6% in the 4th quarter. Smith Group Asset Management LLC now owns 67,042 shares of the industrial products company's stock worth $28,083,000 after purchasing an additional 1,049 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Hubbell by 25.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 190 shares of the industrial products company's stock worth $80,000 after purchasing an additional 38 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Hubbell by 28.4% in the 4th quarter. Exchange Traded Concepts LLC now owns 8,848 shares of the industrial products company's stock worth $3,706,000 after purchasing an additional 1,957 shares in the last quarter. Finally, Portfolio Design Labs LLC bought a new position in shares of Hubbell in the 4th quarter worth $306,000. 88.16% of the stock is owned by institutional investors.

Hubbell Stock Performance

Shares of HUBB stock traded up $8.22 on Tuesday, hitting $398.81. 715,565 shares of the stock were exchanged, compared to its average volume of 538,587. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $21.29 billion, a PE ratio of 27.77, a P/E/G ratio of 1.34 and a beta of 0.97. Hubbell Incorporated has a one year low of $299.43 and a one year high of $481.35. The firm's 50 day moving average is $354.30 and its two-hundred day moving average is $394.29.

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 the consensus estimate of $3.73 by ($0.23). The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.39 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The firm's revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.60 EPS. Sell-side analysts expect that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The business also recently announced 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. The ex-dividend date is Friday, May 30th. This represents a $5.28 annualized dividend and a yield of 1.32%. Hubbell's dividend payout ratio is currently 35.72%.

Hubbell declared that its Board of Directors has approved a share buyback program on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Barclays lowered their price target on Hubbell from $422.00 to $400.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 26th. JPMorgan Chase & Co. increased their price target on Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Finally, Wall Street Zen lowered Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. Six 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 a consensus target price of $457.50.

Insiders Place Their Bets

In other news, CEO Gerben Bakker sold 7,723 shares of Hubbell stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $384.63, for a total transaction 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. This trade represents a 8.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Carlos M. Cardoso sold 400 shares of Hubbell stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $386.29, for a total value of $154,516.00. Following 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 position. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

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.