AXQ Capital LP Invests $754,000 in Hubbell Incorporated (NYSE:HUBB)

AXQ Capital LP bought a new stake in Hubbell Incorporated (NYSE:HUBB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 1,801 shares of the industrial products company’s stock, valued at approximately $754,000.

A number of other institutional investors have also made changes to their positions in HUBB. Creative Financial Designs Inc. ADV lifted its holdings in Hubbell by 85.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock worth $27,000 after buying an additional 30 shares during the last quarter. Groupama Asset Managment grew its holdings in shares of Hubbell by 17.0% during the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock worth $30,000 after purchasing an additional 1,010 shares during the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of Hubbell during the fourth quarter worth about $30,000. Prospera Private Wealth LLC purchased a new stake in shares of Hubbell in the 3rd quarter valued at about $33,000. Finally, Versant Capital Management Inc boosted its position in shares of Hubbell by 64.6% in the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 31 shares during the period. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on HUBB shares. Barclays reduced their price objective on Hubbell from $475.00 to $422.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a “buy” rating to a “hold” rating and reduced their price objective for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company dropped their target price on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $464.88.

Hubbell Stock Down 0.3 %

Hubbell stock opened at $338.08 on Friday. The company has a market capitalization of $18.14 billion, a P/E ratio of 23.54, a P/E/G ratio of 1.34 and a beta of 0.95. The firm’s fifty day simple moving average is $388.41 and its 200-day simple moving average is $419.45. Hubbell Incorporated has a 1-year low of $330.32 and a 1-year high of $481.35. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, beating 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 quarterly revenue was down .9% compared to the same quarter last year. During the same quarter last year, the company posted $3.69 EPS. Sell-side analysts forecast that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The company also recently announced 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 1.56%. The ex-dividend date of this dividend was Friday, February 28th. Hubbell’s payout ratio is 36.77%.

Hubbell declared that its board has approved a share repurchase program on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the industrial products company to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 4,327 shares in the company, valued at $1,683,462.62. The trade was a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.78% of the stock is currently owned by 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.