IQ EQ FUND MANAGEMENT IRELAND Ltd Makes New Investment in Hubbell Incorporated (NYSE:HUBB)

IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in Hubbell Incorporated (NYSE:HUBB) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 2,051 shares of the industrial products company’s stock, valued at approximately $859,000.

Several other large investors have also recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB boosted its stake in Hubbell by 12.3% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company’s stock worth $96,000 after purchasing an additional 25 shares during the last quarter. JGP Wealth Management LLC lifted its stake in shares of Hubbell by 1.2% in the fourth 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. Sanctuary Advisors LLC boosted its position in Hubbell by 0.5% during the fourth quarter. Sanctuary Advisors LLC now owns 5,422 shares of the industrial products company’s stock worth $2,313,000 after acquiring an additional 27 shares during the last quarter. Mindset Wealth Management LLC grew its stake in Hubbell by 1.7% during the 4th quarter. Mindset Wealth Management LLC now owns 1,655 shares of the industrial products company’s stock valued at $693,000 after acquiring an additional 27 shares in the last quarter. Finally, Avestar Capital LLC raised its holdings in Hubbell by 5.1% in the 3rd quarter. Avestar Capital LLC now owns 577 shares of the industrial products company’s stock valued at $247,000 after acquiring an additional 28 shares during the last quarter. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HUBB has been the subject of a number of analyst reports. Wells Fargo & Company dropped their price target on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Barclays dropped their target price on Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a report on Wednesday. Finally, StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $462.13.

Insider Buying and Selling at Hubbell

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

Hubbell Stock Performance

Shares of Hubbell stock opened at $342.04 on Friday. The firm has a market cap of $18.36 billion, a PE ratio of 23.82, a price-to-earnings-growth ratio of 1.34 and a beta of 0.94. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. Hubbell Incorporated has a 52 week low of $330.32 and a 52 week high of $481.35. The business’s fifty day simple moving average is $382.09 and its 200-day simple moving average is $418.74.

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

Hubbell Announces Dividend

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

Hubbell declared that its board has authorized a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the industrial products company to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

About Hubbell

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.