Hubbell Incorporated (NYSE:HUBB) Shares Bought by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Hubbell Incorporated (NYSE:HUBB - Free Report) by 6.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 399,421 shares of the industrial products company's stock after acquiring an additional 25,534 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.74% of Hubbell worth $167,314,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Salem Investment Counselors Inc. increased its position in shares of Hubbell by 26.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 9,144 shares of the industrial products company's stock valued at $3,830,000 after purchasing an additional 1,886 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Hubbell by 122.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 28,723 shares of the industrial products company's stock valued at $12,032,000 after purchasing an additional 15,806 shares during the period. Smith Group Asset Management LLC increased its position in shares of Hubbell by 1.6% during the 4th quarter. Smith Group Asset Management LLC now owns 67,042 shares of the industrial products company's stock valued at $28,083,000 after purchasing an additional 1,049 shares during the period. First Pacific Financial lifted its holdings in Hubbell by 11,180.0% in the 4th quarter. First Pacific Financial now owns 1,692 shares of the industrial products company's stock valued at $709,000 after acquiring an additional 1,677 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in Hubbell by 25.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 190 shares of the industrial products company's stock valued at $80,000 after acquiring an additional 38 shares during the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

Hubbell Price Performance

HUBB opened at $356.66 on Monday. The stock has a fifty day moving average of $343.12 and a 200-day moving average of $398.64. The firm has a market capitalization of $19.14 billion, a P/E ratio of 24.84, a PEG ratio of 1.34 and a beta of 0.97. Hubbell Incorporated has a 12-month low of $299.43 and a 12-month high of $481.35. 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 (NYSE:HUBB - Get Free Report) last released 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 business had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.39 billion. During the same period last year, the firm earned $3.60 EPS. The company's revenue was down 2.4% compared to the same quarter last year. Equities analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

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

Hubbell Announces Dividend

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 given a $1.32 dividend. 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 1.48%. Hubbell's payout ratio is 35.72%.

Insiders Place Their Bets

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total value of $452,865.84. Following the completion of the sale, the insider now 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.66% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. StockNews.com downgraded shares of Hubbell from a "buy" rating to a "hold" rating in a report on Friday, April 11th. JPMorgan Chase & Co. decreased their price target on shares of Hubbell from $430.00 to $352.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Finally, Barclays decreased their price target 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 investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $449.38.

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.

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