Lighthouse Investment Partners LLC Purchases New Holdings in Hubbell Incorporated (NYSE:HUBB)

Lighthouse Investment Partners LLC purchased a new position in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 7,500 shares of the industrial products company's stock, valued at approximately $3,142,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Creative Financial Designs Inc. ADV raised its holdings 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 buying an additional 30 shares during the period. Stonebridge Financial Group LLC acquired a new position in shares of Hubbell in the fourth quarter worth $30,000. Johnson Financial Group Inc. increased its position 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 acquiring an additional 65 shares during the period. Venturi Wealth Management LLC raised its stake in shares of Hubbell by 69.7% in the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company's stock valued at $54,000 after acquiring an additional 53 shares in the last quarter. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Hubbell in the fourth quarter valued at $69,000. Institutional investors and hedge funds own 88.16% of the company's stock.

Insider Buying and Selling

In other news, CEO Gerben Bakker sold 7,723 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $384.63, for a total value of $2,970,497.49. Following the completion of the sale, the chief executive officer now directly owns 82,101 shares of the company's stock, valued at approximately $31,578,507.63. This represents a 8.60% 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 this hyperlink. Also, insider Alyssa R. Flynn sold 1,164 shares of the firm's stock in a transaction that occurred 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 transaction, the insider now owns 4,327 shares in the company, valued at approximately $1,683,462.62. This trade represents a 21.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

Hubbell Stock Down 0.5%

NYSE HUBB traded down $1.89 during trading on Monday, reaching $390.33. 68,643 shares of the company's stock were exchanged, compared to its average volume of 529,869. The company has a 50 day moving average price of $347.05 and a two-hundred day moving average price of $396.80. The stock has a market cap of $20.83 billion, a P/E ratio of 27.12, a price-to-earnings-growth ratio of 1.34 and a beta of 0.97. Hubbell Incorporated has a 1 year low of $299.43 and a 1 year high of $481.35. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64.

Hubbell (NYSE:HUBB - Get Free Report) last issued 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). The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.39 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. Hubbell's revenue was down 2.4% on a year-over-year basis. During the same period last year, the business posted $3.60 EPS. On average, equities research analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell announced that its Board of Directors has authorized a share buyback program on Wednesday, February 12th that allows the company to buyback $500.00 million in 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 often an indication that the company's board of directors believes its shares are undervalued.

Hubbell Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Friday, May 30th. Hubbell's dividend payout ratio (DPR) is 35.72%.

Wall Street Analyst Weigh In

Several research firms recently commented on HUBB. JPMorgan Chase & Co. boosted their target price on Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a research note on Friday. Barclays decreased their price objective on Hubbell from $422.00 to $400.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 26th. Finally, StockNews.com lowered shares of Hubbell from a "buy" rating to a "hold" rating in a research note on Friday, April 11th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $457.50.

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.