Frontier Capital Management Co. LLC Increases Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Frontier Capital Management Co. LLC increased its position in Hubbell Incorporated (NYSE:HUBB - Free Report) by 42.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,701 shares of the industrial products company's stock after buying an additional 5,587 shares during the period. Frontier Capital Management Co. LLC's holdings in Hubbell were worth $7,834,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Salem Investment Counselors Inc. raised its holdings in shares of Hubbell by 26.0% in the 4th quarter. Salem Investment Counselors Inc. now owns 9,144 shares of the industrial products company's stock worth $3,830,000 after purchasing an additional 1,886 shares during the period. Janney Montgomery Scott LLC boosted 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 worth $12,032,000 after purchasing an additional 15,806 shares during the period. Principal Financial Group Inc. increased its stake in Hubbell by 7.1% during the third quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company's stock valued at $98,187,000 after purchasing an additional 15,215 shares during the last quarter. Smith Group Asset Management LLC boosted its stake 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 acquiring an additional 1,049 shares during the period. Finally, First Pacific Financial increased its position in Hubbell by 11,180.0% in the fourth quarter. First Pacific Financial now owns 1,692 shares of the industrial products company's stock worth $709,000 after buying an additional 1,677 shares during the period. Hedge funds and other institutional investors own 88.16% of the company's stock.

Insider Activity

In other news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $389.06, for a total value of $452,865.84. Following the completion of the transaction, the insider now owns 4,327 shares of the company's stock, valued at $1,683,462.62. The trade was a 21.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.66% of the company's stock.

Hubbell Price Performance

NYSE:HUBB traded up $0.59 during trading hours on Thursday, reaching $386.27. 344,154 shares of the company were exchanged, compared to its average volume of 527,948. The business has a 50 day moving average of $344.45 and a 200 day moving average of $398.11. The company has a market capitalization of $20.62 billion, a P/E ratio of 26.95, a P/E/G 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 1-year low of $299.43 and a 1-year high of $481.35.

Hubbell (NYSE:HUBB - Get Free Report) last posted its earnings results on Thursday, May 1st. The industrial products company reported $3.50 EPS for the quarter, missing the consensus estimate of $3.73 by ($0.23). Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the prior year, the business earned $3.60 earnings per share. The firm's quarterly revenue was down 2.4% on a year-over-year basis. Research analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell declared that its Board of Directors has authorized a share buyback plan on Wednesday, February 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 2.4% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its shares are undervalued.

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be issued a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.37%. The ex-dividend date is Friday, May 30th. Hubbell's dividend payout ratio (DPR) is currently 35.72%.

Analyst Ratings Changes

Several analysts recently commented on the stock. Barclays cut their target price on shares of Hubbell from $422.00 to $400.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 26th. StockNews.com lowered Hubbell from a "buy" rating to a "hold" rating in a report on Friday, April 11th. Finally, JPMorgan Chase & Co. reduced their price target on Hubbell from $430.00 to $352.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Hubbell currently has a consensus rating of "Hold" and an average target price of $449.38.

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.