1,101 Shares in Hubbell Incorporated (NYSE:HUBB) Acquired by Occudo Quantitative Strategies LP

Occudo Quantitative Strategies LP acquired a new position in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,101 shares of the industrial products company's stock, valued at approximately $461,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Czech National Bank boosted its holdings in Hubbell by 6.4% in the 4th quarter. Czech National Bank now owns 11,637 shares of the industrial products company's stock worth $4,875,000 after acquiring an additional 702 shares during the period. Fifth Third Wealth Advisors LLC boosted its stake in shares of Hubbell by 13.7% in the fourth quarter. Fifth Third Wealth Advisors LLC now owns 861 shares of the industrial products company's stock valued at $361,000 after purchasing an additional 104 shares during the period. Kathmere Capital Management LLC grew its holdings in Hubbell by 14.9% during the 4th quarter. Kathmere Capital Management LLC now owns 602 shares of the industrial products company's stock valued at $252,000 after purchasing an additional 78 shares in the last quarter. Park Avenue Securities LLC increased its stake in Hubbell by 20.7% during the 4th quarter. Park Avenue Securities LLC now owns 2,583 shares of the industrial products company's stock worth $1,082,000 after buying an additional 443 shares during the period. Finally, JGP Wealth Management LLC lifted its holdings in Hubbell by 1.2% in the 4th quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company's stock worth $884,000 after buying an additional 26 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company's stock.

Insider Transactions at Hubbell

In related news, CEO Gerben Bakker sold 7,723 shares of Hubbell 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 sale, the chief executive officer now directly owns 82,101 shares in the company, valued at $31,578,507.63. The trade was a 8.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alyssa R. Flynn sold 1,164 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $389.06, for a total transaction of $452,865.84. Following the sale, the insider now owns 4,327 shares in the company, valued at $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. Insiders own 0.66% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Barclays dropped their target price on Hubbell from $422.00 to $400.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 26th. JPMorgan Chase & Co. upped their target price on Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Finally, StockNews.com cut Hubbell from a "buy" rating to a "hold" rating in a research note on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $457.50.

Hubbell Stock Performance

HUBB traded down $0.36 during trading hours on Wednesday, hitting $388.72. 110,896 shares of the stock were exchanged, compared to its average volume of 673,328. 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 12 month low of $299.42 and a 12 month high of $481.35. The stock has a 50-day simple moving average of $349.32 and a 200-day simple moving average of $396.51. The stock has a market cap of $20.75 billion, a price-to-earnings ratio of 27.05, a price-to-earnings-growth ratio of 1.34 and a beta of 0.97.

Hubbell (NYSE:HUBB - Get Free Report) last released 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). Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The business had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter last year, the company earned $3.60 EPS. Hubbell's revenue was down 2.4% compared to the same quarter last year. Analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current year.

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

Hubbell Dividend Announcement

The business also recently announced 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 1.36%. The ex-dividend date is Friday, May 30th. Hubbell's dividend payout ratio is presently 35.72%.

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.