Financial Engines Advisors L.L.C. Takes $320,000 Position in Hubbell Incorporated (NYSE:HUBB)

Financial Engines Advisors L.L.C. purchased a new position in shares of Hubbell Incorporated (NYSE:HUBB) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 764 shares of the industrial products company’s stock, valued at approximately $320,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HUBB. Salem Investment Counselors Inc. boosted its stake in shares of Hubbell by 26.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 9,144 shares of the industrial products company’s stock valued at $3,830,000 after buying an additional 1,886 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Hubbell by 122.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 28,723 shares of the industrial products company’s stock worth $12,032,000 after purchasing an additional 15,806 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Hubbell by 7.1% during the 3rd quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company’s stock worth $98,187,000 after purchasing an additional 15,215 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Hubbell by 29.6% during the 4th quarter. Nordea Investment Management AB now owns 160,630 shares of the industrial products company’s stock valued at $67,503,000 after buying an additional 36,643 shares during the last quarter. Finally, SPX Gestao de Recursos Ltda bought a new stake in shares of Hubbell in the 3rd quarter valued at approximately $9,985,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Barclays cut their price target on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a report on Wednesday. Wells Fargo & Company cut their target price on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Finally, StockNews.com downgraded Hubbell from a “buy” rating to a “hold” rating in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Hubbell currently has a consensus rating of “Hold” and a consensus price target of $462.13.

Hubbell Trading Down 1.3 %

Hubbell stock opened at $342.04 on Friday. Hubbell Incorporated has a 52 week low of $330.32 and a 52 week 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. The firm has a market capitalization of $18.36 billion, a PE ratio of 23.82, a PEG ratio of 1.34 and a beta of 0.94. The business’s 50-day simple moving average is $382.09 and its 200-day simple moving average is $418.74.

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

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date of this dividend was Friday, February 28th. Hubbell’s dividend payout ratio (DPR) is presently 36.77%.

Hubbell announced that its board has authorized a share 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 usually a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Alyssa R. Flynn sold 1,164 shares of the business’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 sale, the insider now directly owns 4,327 shares in the company, valued at approximately $1,683,462.62. The trade was a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.66% of the company’s stock.

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.