Bahl & Gaynor Inc. Purchases 15,468 Shares of Hubbell Incorporated (NYSE:HUBB)

Bahl & Gaynor Inc. raised its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 10.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 157,910 shares of the industrial products company’s stock after buying an additional 15,468 shares during the quarter. Bahl & Gaynor Inc. owned about 0.29% of Hubbell worth $66,147,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of HUBB. Mizuho Securities USA LLC increased its position in shares of Hubbell by 192,421.1% during the third quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock worth $3,418,233,000 after acquiring an additional 7,975,855 shares in the last quarter. Impax Asset Management Group plc raised its stake in Hubbell by 30.3% in 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Hubbell by 268.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 231,130 shares of the industrial products company’s stock worth $99,005,000 after buying an additional 168,380 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Hubbell by 4.8% during the fourth 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 during the period. Finally, Proficio Capital Partners LLC bought a new stake in Hubbell during the fourth quarter worth $40,533,000. Institutional investors own 88.16% of the company’s stock.

Hubbell Stock Down 4.7 %

Shares of HUBB stock opened at $354.21 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. Hubbell Incorporated has a 52 week low of $346.13 and a 52 week high of $481.35. The company’s fifty day simple moving average is $412.33 and its two-hundred day simple moving average is $424.12. The stock has a market cap of $19.01 billion, a P/E ratio of 24.67, a PEG ratio of 1.34 and a beta of 0.95.

Hubbell (NYSE:HUBB) last released its quarterly 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 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 firm’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the company earned $3.69 EPS. Analysts predict that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

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

Hubbell announced that its board has authorized a stock buyback plan on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the industrial products company to buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Barclays dropped their target price on Hubbell from $475.00 to $422.00 and set an “equal weight” rating for the company in a research report on Monday. Sanford C. Bernstein started coverage on Hubbell in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price target on the stock. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Wells Fargo & Company cut 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. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a “buy” rating to a “hold” rating and reduced their target price for the company from $493.00 to $473.00 in a research report on Tuesday, November 26th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Hubbell has a consensus rating of “Hold” and an average price target of $464.88.

Insider Activity

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the business’s 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 transaction, the insider now owns 4,327 shares of the company’s stock, valued at approximately $1,683,462.62. The trade was a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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.