Captrust Financial Advisors Acquires 792 Shares of Hubbell Incorporated (NYSE:HUBB)

Captrust Financial Advisors grew its stake in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 20.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,743 shares of the industrial products company's stock after purchasing an additional 792 shares during the period. Captrust Financial Advisors' holdings in Hubbell were worth $1,987,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Creative Financial Designs Inc. ADV boosted its position in shares of Hubbell by 85.7% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock worth $27,000 after buying an additional 30 shares during the period. Stonebridge Financial Group LLC purchased a new stake in Hubbell in the 4th quarter worth about $30,000. Johnson Financial Group Inc. boosted its position in Hubbell by 166.7% during the 4th quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock worth $44,000 after acquiring an additional 65 shares during the period. Venturi Wealth Management LLC boosted its position in Hubbell by 69.7% during the 4th quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company's stock worth $54,000 after acquiring an additional 53 shares during the period. Finally, Golden State Wealth Management LLC purchased a new position in Hubbell during the 4th quarter valued at about $69,000. Institutional investors and hedge funds own 88.16% of the company's stock.

Analysts Set New Price Targets

HUBB has been the subject of several research reports. Barclays decreased their price target 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. JPMorgan Chase & Co. lifted their target price on shares of Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a research note on Friday. Finally, StockNews.com downgraded shares of Hubbell from a "buy" rating to a "hold" rating in a research note on Friday, April 11th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, Hubbell has an average rating of "Hold" and an average price target of $457.50.

Hubbell Stock Up 1.4%

NYSE HUBB traded up $5.52 during trading on Friday, hitting $392.16. 659,423 shares of the company traded hands, compared to its average volume of 530,921. Hubbell Incorporated has a 12 month low of $299.43 and a 12 month high of $481.35. The business has a fifty day simple moving average of $346.02 and a 200 day simple moving average of $397.58. The company has a market capitalization of $20.93 billion, a P/E ratio of 27.31, a PEG ratio of 1.34 and a beta of 0.97. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44.

Hubbell (NYSE:HUBB - Get Free Report) last posted its earnings results on Thursday, May 1st. The industrial products company reported $3.50 earnings per share (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 firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the previous year, the business posted $3.60 earnings per share. The business's quarterly revenue was down 2.4% compared to the same quarter last year. As a group, sell-side analysts predict that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors 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 annualized dividend and a yield of 1.35%. Hubbell's payout ratio is 35.72%.

Hubbell announced that its board has authorized a share buyback program on Wednesday, February 12th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 2.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the firm's stock in a transaction 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 sale, the insider now directly owns 4,327 shares in the company, valued at $1,683,462.62. This trade represents a 21.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Gerben Bakker sold 7,723 shares of the company'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 value of $2,970,497.49. Following the completion of the transaction, the chief executive officer now directly owns 82,101 shares of the company's stock, valued at approximately $31,578,507.63. This trade represents a 8.60% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.66% of the company's stock.

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.