Teacher Retirement System of Texas Makes New $210,000 Investment in Hubbell Incorporated (NYSE:HUBB)

Teacher Retirement System of Texas purchased a new stake in Hubbell Incorporated (NYSE:HUBB) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 502 shares of the industrial products company’s stock, valued at approximately $210,000.

Several other institutional investors have also made changes to their positions in HUBB. Public Sector Pension Investment Board grew its holdings in shares of Hubbell by 14.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 2,348 shares of the industrial products company’s stock worth $1,006,000 after purchasing an additional 300 shares in the last quarter. Benjamin Edwards Inc. acquired a new stake in shares of Hubbell in the 3rd quarter valued at $426,000. Hilltop Holdings Inc. increased its stake in shares of Hubbell by 5.7% in the 3rd quarter. Hilltop Holdings Inc. now owns 2,361 shares of the industrial products company’s stock valued at $1,011,000 after purchasing an additional 128 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Hubbell by 11.1% in the 3rd quarter. Janus Henderson Group PLC now owns 7,007 shares of the industrial products company’s stock valued at $3,001,000 after purchasing an additional 700 shares during the last quarter. Finally, Investment Management Corp of Ontario lifted its position in shares of Hubbell by 50.7% during the 3rd quarter. Investment Management Corp of Ontario now owns 1,784 shares of the industrial products company’s stock worth $764,000 after buying an additional 600 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

HUBB has been the topic of a number of recent analyst reports. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research report on Thursday. Wells Fargo & Company decreased 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. Finally, Barclays cut their target price on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 26th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Hubbell currently has an average rating of “Hold” and a consensus target price of $462.13.

Hubbell Stock Performance

Shares of HUBB stock opened at $341.89 on Thursday. Hubbell Incorporated has a one year low of $316.34 and a one year high of $481.35. The business’s 50 day simple moving average is $373.18 and its 200 day simple moving average is $417.35. The stock has a market capitalization of $18.35 billion, a PE ratio of 23.81, a PEG 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.

Hubbell (NYSE:HUBB) last issued 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 firm had revenue of $1.33 billion during 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%. The business’s revenue was down .9% compared to the same quarter last year. During the same period last year, the business posted $3.69 EPS. As a group, research analysts forecast that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a $1.32 dividend. This represents a $5.28 annualized dividend 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 declared that its board has authorized a share repurchase program on Wednesday, February 12th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the industrial products company to repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Alyssa R. Flynn sold 1,164 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $389.06, for a total transaction of $452,865.84. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.66% of the company’s stock.

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.