Graham Capital Management L.P. Takes Position in Hubbell Incorporated (NYSE:HUBB)

Graham Capital Management L.P. acquired a new stake in Hubbell Incorporated (NYSE:HUBB - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,300 shares of the industrial products company's stock, valued at approximately $545,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position 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 worth $2,779,212,000 after purchasing an additional 65,033 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Hubbell by 4.8% in 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 acquiring an additional 129,490 shares during the period. Massachusetts Financial Services Co. MA increased its stake in Hubbell by 6.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,510,430 shares of the industrial products company's stock worth $632,704,000 after purchasing an additional 92,954 shares in the last quarter. Invesco Ltd. raised its holdings 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 worth $624,347,000 after acquiring an additional 27,914 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Hubbell by 2.4% in 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 purchasing an additional 29,601 shares in the last quarter. Institutional investors own 88.16% of the company's stock.

Analyst Ratings Changes

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

Insider Buying and Selling at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell 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 completion of the transaction, the insider now owns 4,327 shares of the company's stock, valued at $1,683,462.62. This trade represents a 21.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.66% of the company's stock.

Hubbell Price Performance

HUBB stock opened at $386.64 on Friday. The company's 50-day moving average price is $346.02 and its two-hundred day moving average price is $397.58. The firm has a market cap of $20.64 billion, a P/E ratio of 26.92, a P/E/G ratio of 1.34 and a beta of 0.97. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. Hubbell Incorporated has a 12 month low of $299.43 and a 12 month 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 analysts' consensus estimates of $3.73 by ($0.23). The company had revenue of $1.37 billion during 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 period last year, the company posted $3.60 EPS. On average, analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The company also recently disclosed 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. This represents a $5.28 annualized dividend and a dividend yield of 1.37%. The ex-dividend date is Friday, May 30th. Hubbell's dividend payout ratio is currently 35.72%.

Hubbell announced that its Board of Directors has approved a stock repurchase program on Wednesday, February 12th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the industrial products company to buy up to 2.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership 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.

Want to see what other hedge funds are holding HUBB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hubbell Incorporated (NYSE:HUBB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.