SageView Advisory Group LLC Invests $341,000 in Hubbell Incorporated (NYSE:HUBB)

SageView Advisory Group LLC purchased a new position in shares of Hubbell Incorporated (NYSE:HUBB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 815 shares of the industrial products company’s stock, valued at approximately $341,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Salem Investment Counselors Inc. grew its stake in shares of Hubbell by 26.0% in 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 purchasing an additional 1,886 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Hubbell by 122.4% during the fourth 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 during the period. Principal Financial Group Inc. grew its position in Hubbell by 7.1% in the 3rd quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company’s stock valued at $98,187,000 after buying an additional 15,215 shares during the last quarter. Nordea Investment Management AB increased its stake in Hubbell by 29.6% in 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 period. Finally, SPX Gestao de Recursos Ltda acquired a new position in Hubbell in the 3rd quarter valued at $9,985,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. lowered their target price on shares of Hubbell from $430.00 to $352.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company lowered their price objective on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. StockNews.com downgraded Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, April 11th. Finally, Barclays decreased their price target 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. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $449.38.

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction 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 owns 4,327 shares in the company, valued at approximately $1,683,462.62. This represents a 21.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.66% of the stock is currently owned by insiders.

Hubbell Price Performance

Shares of NYSE:HUBB opened at $346.69 on Wednesday. The firm has a market capitalization of $18.61 billion, a price-to-earnings ratio of 24.14, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. The business’s 50 day simple moving average is $354.74 and its 200-day simple moving average is $410.80. Hubbell Incorporated has a 12 month low of $299.43 and a 12 month high of $481.35.

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

Hubbell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were paid a $1.32 dividend. The ex-dividend date was Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a yield of 1.52%. Hubbell’s payout ratio is 36.77%.

Hubbell announced that its board has approved a share repurchase plan on Wednesday, February 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 2.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Hubbell Company 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.