Ameriprise Financial Inc. Grows Holdings in Hubbell Incorporated (NYSE:HUBB)

Ameriprise Financial Inc. increased its position in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 80.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 336,308 shares of the industrial products company's stock after purchasing an additional 149,622 shares during the period. Ameriprise Financial Inc. owned about 0.63% of Hubbell worth $140,876,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV boosted its stake in shares of Hubbell by 85.7% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock valued at $27,000 after purchasing an additional 30 shares in the last quarter. Stonebridge Financial Group LLC acquired a new position in Hubbell in the fourth quarter valued at about $30,000. Versant Capital Management Inc grew its stake in Hubbell by 64.6% during the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company's stock worth $33,000 after buying an additional 31 shares during the last quarter. Johnson Financial Group Inc. raised its stake in shares of Hubbell by 166.7% in the fourth quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock valued at $44,000 after acquiring an additional 65 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its holdings in shares of Hubbell by 69.7% in 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 in the last quarter. 88.16% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. cut their price objective on Hubbell from $430.00 to $352.00 and set a "neutral" rating for the company in a research report on Tuesday, April 8th. StockNews.com downgraded shares of Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. Finally, Barclays lowered 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. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Hubbell presently has an average rating of "Hold" and a consensus price target of $449.38.

Hubbell Stock Up 0.6 %

NYSE:HUBB traded up $2.09 on Friday, hitting $356.66. 465,706 shares of the company's stock were exchanged, compared to its average volume of 522,891. The company has a market cap of $19.14 billion, a P/E ratio of 24.84, a price-to-earnings-growth ratio of 1.34 and a beta of 0.97. The firm has a 50-day moving average price of $343.12 and a 200-day moving average price of $399.31. 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 Incorporated has a 52 week low of $299.43 and a 52 week high of $481.35.

Hubbell (NYSE:HUBB - Get Free Report) last announced its quarterly 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). 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 prior year, the business earned $3.60 EPS. The business's revenue was down 2.4% compared to the same quarter last year. As a group, analysts expect that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

The firm also recently declared 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. This represents a $5.28 annualized dividend and a yield of 1.48%. The ex-dividend date is Friday, May 30th. Hubbell's dividend payout ratio (DPR) is currently 35.72%.

Hubbell announced that its Board of Directors has approved a share buyback plan on Wednesday, February 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the industrial products company to repurchase up to 2.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's management believes its stock is undervalued.

Insider Transactions at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the company's stock in a transaction dated 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.66% of the stock is owned by company insiders.

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.