PFG Advisors Has $2.98 Million Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

PFG Advisors raised its holdings in Hubbell Incorporated (NYSE:HUBB) by 3.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,104 shares of the industrial products company’s stock after acquiring an additional 230 shares during the quarter. PFG Advisors’ holdings in Hubbell were worth $2,976,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Groupama Asset Managment lifted its stake in shares of Hubbell by 17.0% in the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock worth $30,000 after buying an additional 1,010 shares during the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of Hubbell in the fourth quarter worth $30,000. Prospera Private Wealth LLC acquired a new stake in shares of Hubbell in the third quarter worth $33,000. Versant Capital Management Inc lifted its stake in shares of Hubbell by 64.6% in 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. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Hubbell in the third quarter worth $41,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Trading Down 1.7 %

Shares of HUBB stock opened at $334.67 on Thursday. Hubbell Incorporated has a 1 year low of $332.97 and a 1 year high of $481.35. The firm’s fifty day simple moving average is $401.24 and its 200 day simple moving average is $422.27. The firm has a market capitalization of $17.96 billion, a P/E ratio of 23.31, a price-to-earnings-growth ratio of 1.34 and a beta of 0.94. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.08. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.69 EPS. As a group, sell-side analysts predict that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell announced that its board has authorized a stock buyback program 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 buy up to 2.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be issued a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Friday, February 28th. Hubbell’s dividend payout ratio (DPR) is presently 36.77%.

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total value of $452,865.84. Following the sale, the insider now owns 4,327 shares of the company’s stock, valued at $1,683,462.62. The trade was a 21.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on HUBB shares. Barclays reduced their price objective on shares of Hubbell from $475.00 to $422.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a research note on Monday, February 17th. Wells Fargo & Company reduced their price objective on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $493.00 to $473.00 in a research note on Tuesday, November 26th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $464.88.

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.