Northern Trust Corp Boosts Position in Hubbell Incorporated (NYSE:HUBB)

Northern Trust Corp increased its stake in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 16.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 518,111 shares of the industrial products company's stock after buying an additional 72,913 shares during the period. Northern Trust Corp owned about 0.97% of Hubbell worth $217,032,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in HUBB. Vanguard Group Inc. raised its stake in Hubbell by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 6,634,705 shares of the industrial products company's stock valued at $2,779,212,000 after purchasing an additional 65,033 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Hubbell by 4.8% during the 4th 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 last quarter. Massachusetts Financial Services Co. MA raised its stake in 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 worth $632,704,000 after purchasing an additional 92,954 shares during the period. Invesco Ltd. raised its position in shares of Hubbell by 1.9% in the 4th quarter. Invesco Ltd. now owns 1,490,479 shares of the industrial products company's stock worth $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% in the 4th 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. 88.16% of the stock is owned by hedge funds and other institutional investors.

Hubbell Price Performance

Hubbell stock traded down $5.43 during midday trading on Tuesday, reaching $348.08. The company's stock had a trading volume of 335,383 shares, compared to its average volume of 520,421. Hubbell Incorporated has a 52 week low of $299.43 and a 52 week high of $481.35. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The stock has a market cap of $18.68 billion, a PE ratio of 24.22, a price-to-earnings-growth ratio of 1.34 and a beta of 0.97. The business has a 50-day moving average price of $343.80 and a 200-day moving average price of $401.35.

Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings data 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). The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.39 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. Hubbell's revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the business posted $3.60 earnings per share. On average, sell-side analysts predict that Hubbell Incorporated will post 17.63 EPS for the current year.

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

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders 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 dividend yield of 1.52%. Hubbell's dividend payout ratio (DPR) is presently 35.72%.

Insider Transactions at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of the company's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total transaction of $452,865.84. Following the completion of the sale, the insider now owns 4,327 shares in the company, valued at approximately $1,683,462.62. This represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.66% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Wells Fargo & Company decreased their price objective on shares of Hubbell from $455.00 to $450.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 7th. StockNews.com cut Hubbell from a "buy" rating to a "hold" rating in a research note on Friday, April 11th. JPMorgan Chase & Co. dropped their target price on Hubbell from $430.00 to $352.00 and set a "neutral" rating on the stock in a report on Tuesday, April 8th. Finally, Barclays decreased their price target on Hubbell from $422.00 to $400.00 and set an "equal weight" rating for the company in a report on Wednesday, March 26th. Six research 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 has a consensus rating of "Hold" and a consensus target price 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.