Hubbell Incorporated (NYSE:HUBB) Shares Bought by Unigestion Holding SA

Unigestion Holding SA boosted its holdings in Hubbell Incorporated (NYSE:HUBB - Free Report) by 111.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,243 shares of the industrial products company's stock after acquiring an additional 2,233 shares during the period. Unigestion Holding SA's holdings in Hubbell were worth $1,404,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Smartleaf Asset Management LLC raised its position in Hubbell by 25.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 190 shares of the industrial products company's stock worth $80,000 after buying an additional 38 shares during the last quarter. Portfolio Design Labs LLC purchased a new position in shares of Hubbell during the fourth quarter valued at approximately $306,000. Atria Wealth Solutions Inc. increased its stake in Hubbell by 4.7% in the fourth quarter. Atria Wealth Solutions Inc. now owns 1,838 shares of the industrial products company's stock valued at $770,000 after purchasing an additional 82 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Hubbell by 1.8% during the 4th quarter. Janus Henderson Group PLC now owns 7,130 shares of the industrial products company's stock worth $2,988,000 after buying an additional 123 shares during the last quarter. Finally, Savant Capital LLC raised its holdings in shares of Hubbell by 5.6% in the 4th quarter. Savant Capital LLC now owns 1,329 shares of the industrial products company's stock worth $557,000 after purchasing an additional 71 shares during the period. 88.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. 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 research note on Friday, May 16th. Wall Street Zen downgraded shares of Hubbell from a "buy" rating to a "hold" rating in a research note on Friday, April 11th. Finally, Barclays cut 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. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Hubbell currently has an average rating of "Hold" and an average price target of $457.50.

Insider Activity at Hubbell

In other Hubbell news, CEO Gerben Bakker sold 7,723 shares of the business'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 sale, the chief executive officer now owns 82,101 shares of the company's stock, valued at approximately $31,578,507.63. The trade was a 8.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carlos M. Cardoso sold 400 shares of the company'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 in the company, valued at approximately $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 owned by corporate insiders.

Hubbell Stock Performance

Shares of HUBB stock traded down $2.36 during trading on Thursday, reaching $388.36. 547,028 shares of the company's stock traded hands, compared to its average volume of 539,645. Hubbell Incorporated has a 1 year low of $299.43 and a 1 year high of $481.35. The firm's 50-day moving average is $359.96 and its 200 day moving average is $392.24. 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 company has a market capitalization of $20.73 billion, a P/E ratio of 27.04, a PEG ratio of 1.34 and a beta of 0.97.

Hubbell (NYSE:HUBB - Get Free Report) last issued its 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 prior year, the company earned $3.60 earnings per share. The company's revenue was down 2.4% compared to the same quarter last year. Equities research analysts expect that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.36%. The ex-dividend date of this dividend is Friday, May 30th. Hubbell's dividend payout ratio is presently 35.72%.

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

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.