PointState Capital LP Invests $78.44 Million in Hubbell Incorporated (NYSE:HUBB)

PointState Capital LP purchased a new position in Hubbell Incorporated (NYSE:HUBB - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 187,263 shares of the industrial products company's stock, valued at approximately $78,443,000. Hubbell accounts for about 1.4% of PointState Capital LP's investment portfolio, making the stock its 22nd biggest position. PointState Capital LP owned about 0.35% of Hubbell at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Creative Financial Designs Inc. ADV grew its position in Hubbell by 85.7% in the fourth 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 stake in Hubbell during the fourth quarter valued at about $30,000. Johnson Financial Group Inc. boosted its position in Hubbell by 166.7% during the fourth quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock valued at $44,000 after buying an additional 65 shares during the period. Venturi Wealth Management LLC boosted its position in Hubbell by 69.7% during the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company's stock valued at $54,000 after buying an additional 53 shares during the period. Finally, Golden State Wealth Management LLC bought a new stake in shares of Hubbell in the fourth quarter worth about $69,000. Institutional investors own 88.16% of the company's stock.

Analyst Upgrades and Downgrades

HUBB has been the topic of several recent analyst reports. Barclays cut their target price on Hubbell from $422.00 to $400.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 26th. StockNews.com lowered shares of Hubbell from a "buy" rating to a "hold" rating in a report on Friday, April 11th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Hubbell from $430.00 to $352.00 and set a "neutral" rating for the company in a research note on Tuesday, April 8th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $449.38.

Insiders Place Their Bets

In other news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell stock in a transaction on 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 $1,683,462.62. This trade represents a 21.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.66% of the stock is currently owned by insiders.

Hubbell Price Performance

Shares of HUBB opened at $385.05 on Thursday. The company has a market capitalization of $20.55 billion, a P/E ratio of 26.81, 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. The firm has a 50 day moving average of $344.45 and a 200 day moving average of $398.11. Hubbell Incorporated has a twelve month low of $299.43 and a twelve month 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 earnings per share for the quarter, missing the consensus estimate of $3.73 by ($0.23). The firm 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 period last year, the business earned $3.60 EPS. As a group, equities research analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be given a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend is Friday, May 30th. Hubbell's dividend payout ratio (DPR) is currently 35.72%.

Hubbell declared that its Board of Directors has authorized a stock buyback program on Wednesday, February 12th that allows the company to buyback $500.00 million in outstanding 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 a sign that the company's board of directors believes its stock is undervalued.

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.

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