Smartleaf Asset Management LLC Purchases 38 Shares of Hubbell Incorporated (NYSE:HUBB)

Smartleaf Asset Management LLC increased its holdings in Hubbell Incorporated (NYSE:HUBB) by 25.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 190 shares of the industrial products company’s stock after purchasing an additional 38 shares during the period. Smartleaf Asset Management LLC’s holdings in Hubbell were worth $80,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of HUBB. Salem Investment Counselors Inc. boosted its holdings 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 worth $3,830,000 after purchasing an additional 1,886 shares during the period. Janney Montgomery Scott LLC increased its position in Hubbell by 122.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 28,723 shares of the industrial products company’s stock valued at $12,032,000 after acquiring an additional 15,806 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Hubbell by 7.1% in the 3rd quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company’s stock worth $98,187,000 after acquiring an additional 15,215 shares during the last quarter. LGT Capital Partners LTD. purchased a new position in shares of Hubbell during the 3rd quarter worth about $39,687,000. Finally, Impax Asset Management Group plc boosted its stake in shares of Hubbell by 30.3% during the 3rd quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock worth $514,377,000 after purchasing an additional 279,654 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Buying and Selling

In other news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell 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 transaction, 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 Securities & Exchange Commission, which is accessible through this link. 0.66% of the stock is currently owned by company insiders.

Hubbell Stock Up 2.5 %

NYSE:HUBB opened at $355.05 on Monday. 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 firm has a market cap of $19.05 billion, a PE ratio of 24.73, a price-to-earnings-growth ratio of 1.34 and a beta of 0.94. The company has a 50-day moving average of $406.11 and a 200 day moving average of $423.49. Hubbell Incorporated has a 1-year low of $337.97 and a 1-year high of $481.35.

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

Hubbell declared that its Board of Directors has initiated a share repurchase 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 repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Hubbell Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be given a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Friday, February 28th. Hubbell’s payout ratio is 36.77%.

Wall Street Analysts Forecast Growth

HUBB has been the subject of several recent analyst reports. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Barclays dropped their price objective on Hubbell from $475.00 to $422.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and decreased their target price for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company cut their price target on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $464.88.

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.