Hubbell Incorporated (NYSE:HUBB) Stock Position Increased by Gotham Asset Management LLC

Gotham Asset Management LLC raised its holdings in Hubbell Incorporated (NYSE:HUBB - Free Report) by 5.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,373 shares of the industrial products company's stock after purchasing an additional 1,670 shares during the period. Gotham Asset Management LLC owned 0.06% of Hubbell worth $14,399,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Hubbell by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 6,634,705 shares of the industrial products company's stock valued at $2,779,212,000 after buying an additional 65,033 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Hubbell by 4.8% during the fourth quarter. Bank of New York Mellon Corp now owns 2,826,327 shares of the industrial products company's stock valued at $1,183,920,000 after buying an additional 129,490 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Hubbell by 6.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,510,430 shares of the industrial products company's stock valued at $632,704,000 after buying an additional 92,954 shares during the period. Invesco Ltd. lifted its stake in shares of Hubbell by 1.9% during the fourth quarter. Invesco Ltd. now owns 1,490,479 shares of the industrial products company's stock valued at $624,347,000 after buying an additional 27,914 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Hubbell by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 1,284,506 shares of the industrial products company's stock valued at $536,641,000 after buying an additional 29,601 shares during the period. Hedge funds and other institutional investors own 88.16% of the company's stock.

Hubbell Stock Down 0.4%

HUBB traded down $1.61 during trading hours on Wednesday, reaching $385.05. 639,714 shares of the stock traded hands, compared to its average volume of 528,481. The firm's fifty day simple moving average is $344.45 and its two-hundred day simple moving average is $398.11. The company has a market cap of $20.55 billion, a price-to-earnings ratio of 26.81, a PEG ratio of 1.34 and a beta of 0.97. Hubbell Incorporated has a fifty-two week low of $299.43 and a fifty-two week high of $481.35. 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 (NYSE:HUBB - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $3.50 EPS 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 for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter last year, the company earned $3.60 earnings per share. The company's revenue was down 2.4% compared to the same quarter last year. As a group, analysts forecast that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell declared that its board has initiated a share buyback program on Wednesday, February 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the industrial products company to repurchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Hubbell Announces Dividend

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

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total transaction of $452,865.84. Following the transaction, the insider now directly owns 4,327 shares in the company, valued at $1,683,462.62. This represents a 21.20% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.66% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

Hubbell 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.