Hubbell Incorporated (NYSE:HUBB) Shares Bought by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP boosted its stake in Hubbell Incorporated (NYSE:HUBB - Free Report) by 80.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 27,003 shares of the industrial products company's stock after purchasing an additional 12,003 shares during the quarter. Hudson Bay Capital Management LP owned about 0.05% of Hubbell worth $11,311,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Creative Financial Designs Inc. ADV grew its stake in Hubbell by 85.7% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock worth $27,000 after acquiring an additional 30 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in shares of Hubbell in the fourth quarter worth $30,000. Johnson Financial Group Inc. raised its holdings in shares of Hubbell by 166.7% during the fourth quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock worth $44,000 after purchasing an additional 65 shares during the last quarter. Venturi Wealth Management LLC raised its holdings in shares of Hubbell by 69.7% during the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company's stock worth $54,000 after purchasing an additional 53 shares during the last quarter. Finally, Golden State Wealth Management LLC purchased a new position in shares of Hubbell during the fourth quarter worth $69,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Hubbell Price Performance

Shares of NYSE HUBB traded up $5.52 during trading on Friday, hitting $392.16. The company had a trading volume of 659,423 shares, compared to its average volume of 531,690. The stock has a fifty day simple moving average of $347.05 and a two-hundred day simple moving average of $397.01. Hubbell Incorporated has a fifty-two week low of $299.43 and a fifty-two week high of $481.35. The firm has a market capitalization of $20.93 billion, a price-to-earnings ratio of 27.31, a price-to-earnings-growth 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 (NYSE:HUBB - Get Free Report) last announced its earnings results on Thursday, May 1st. The industrial products company reported $3.50 earnings per share (EPS) 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 company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter last year, the business earned $3.60 EPS. The firm's revenue for the quarter was down 2.4% compared to the same quarter last year. On average, research analysts expect that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

The firm also recently disclosed 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 dividend payout ratio is presently 35.72%.

Hubbell declared that its board has authorized a stock 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 purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

HUBB has been the topic of several analyst reports. StockNews.com lowered shares of Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. Barclays dropped 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. Finally, JPMorgan Chase & Co. raised their price target on shares of Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a research report on Friday. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $457.50.

Insider Activity at Hubbell

In related news, CEO Gerben Bakker sold 7,723 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $384.63, for a total transaction of $2,970,497.49. Following the completion of the sale, the chief executive officer now owns 82,101 shares of the company's stock, valued at approximately $31,578,507.63. This represents a 8.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the insider now directly owns 4,327 shares of the company's stock, valued at approximately $1,683,462.62. This represents a 21.20% decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

Hubbell 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.