Schroder Investment Management Group Grows Stake in Hubbell Incorporated (NYSE:HUBB)

Schroder Investment Management Group lifted its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 6.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 63,758 shares of the industrial products company’s stock after buying an additional 3,912 shares during the quarter. Schroder Investment Management Group’s holdings in Hubbell were worth $26,708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new stake in Hubbell during the fourth quarter valued at $195,218,000. Raymond James Financial Inc. bought a new stake in shares of Hubbell during the fourth quarter valued at approximately $63,647,000. Bank of New York Mellon Corp lifted its stake in Hubbell by 4.8% in the 4th quarter. Bank of New York Mellon Corp now owns 2,826,327 shares of the industrial products company’s stock worth $1,183,920,000 after purchasing an additional 129,490 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Hubbell in the fourth quarter worth about $40,533,000. Finally, Vontobel Holding Ltd. boosted its position in shares of Hubbell by 9,720.7% during the 4th quarter. Vontobel Holding Ltd. now owns 74,048 shares of the industrial products company’s stock valued at $31,018,000 after acquiring an additional 73,294 shares during the last quarter. Institutional investors own 88.16% of the company’s stock.

Hubbell Trading Up 2.7 %

Shares of Hubbell stock opened at $341.89 on Thursday. Hubbell Incorporated has a 1-year low of $316.34 and a 1-year high of $481.35. The stock has a market cap of $18.35 billion, a P/E ratio of 23.81, a P/E/G ratio of 1.34 and a beta of 0.95. The stock’s 50 day simple moving average is $373.18 and its 200-day simple moving average is $417.35. 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 (NYSE:HUBB) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $4.02 by $0.08. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.41 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The company’s revenue was down .9% compared to the same quarter last year. During the same period in the prior year, the business posted $3.69 EPS. Analysts predict that Hubbell Incorporated will post 17.63 EPS for the current fiscal 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 of this dividend 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 announced that its Board of Directors has authorized a stock buyback plan 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 plans are typically an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

HUBB has been the subject of a number of recent research reports. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a report on Thursday. Wells Fargo & Company reduced their target price on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Finally, Barclays decreased their price objective on Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $462.13.

Insider Buying and Selling at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of the firm’s stock in a transaction that occurred 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. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.66% of the stock is owned by corporate insiders.

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.