Machina Capital S.A.S. Acquires Shares of 1,494 Hubbell Incorporated (NYSE:HUBB)

Machina Capital S.A.S. bought a new position in shares of Hubbell Incorporated (NYSE:HUBB) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,494 shares of the industrial products company’s stock, valued at approximately $491,000.

A number of other institutional investors have also modified their holdings of the business. Commonwealth Equity Services LLC boosted its holdings in Hubbell by 6.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 11,056 shares of the industrial products company’s stock valued at $3,465,000 after purchasing an additional 713 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Hubbell by 50.2% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 8,630 shares of the industrial products company’s stock valued at $2,705,000 after purchasing an additional 2,886 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Hubbell by 8.2% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 9,410 shares of the industrial products company’s stock worth $2,949,000 after purchasing an additional 711 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Hubbell by 155.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 52,649 shares of the industrial products company’s stock worth $16,501,000 after purchasing an additional 32,040 shares in the last quarter. Finally, IFM Investors Pty Ltd grew its holdings in Hubbell by 10.7% in the third quarter. IFM Investors Pty Ltd now owns 11,868 shares of the industrial products company’s stock valued at $3,720,000 after purchasing an additional 1,148 shares during the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently commented on HUBB shares. Mizuho lifted their price objective on Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Wells Fargo & Company lowered their price objective on Hubbell from $435.00 to $397.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft began coverage on shares of Hubbell in a research report on Monday, March 11th. They issued a “hold” rating and a $427.00 target price for the company. StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Barclays dropped their price target on Hubbell from $400.00 to $384.00 and set an “equal weight” rating on the stock in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Hubbell presently has an average rating of “Moderate Buy” and an average target price of $386.57.

Insider Activity

In other Hubbell news, VP Katherine Anne Lane sold 1,468 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $352.51, for a total transaction of $517,484.68. Following the completion of the sale, the vice president now directly owns 9,355 shares in the company, valued at approximately $3,297,731.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Mark Eugene Mikes sold 1,837 shares of the stock in a transaction on Friday, February 9th. The stock was sold at an average price of $358.16, for a total transaction of $657,939.92. Following the completion of the sale, the insider now directly owns 5,296 shares in the company, valued at $1,896,815.36. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Katherine Anne Lane sold 1,468 shares of the business’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $352.51, for a total value of $517,484.68. Following the completion of the transaction, the vice president now owns 9,355 shares in the company, valued at approximately $3,297,731.05. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,747 shares of company stock worth $1,693,364. 0.78% of the stock is owned by corporate insiders.

Hubbell Price Performance

NYSE:HUBB traded up $8.11 during midday trading on Monday, hitting $388.00. 457,229 shares of the stock were exchanged, compared to its average volume of 430,406. Hubbell Incorporated has a one year low of $248.37 and a one year high of $429.61. The company has a market capitalization of $20.81 billion, a price-to-earnings ratio of 28.93, a P/E/G ratio of 1.47 and a beta of 0.96. The business has a 50-day moving average price of $398.42 and a two-hundred day moving average price of $346.68. The company has a current ratio of 1.66, a quick ratio of 1.03 and a debt-to-equity ratio of 0.64.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share for the quarter, beating the consensus estimate of $3.54 by $0.06. The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the business posted $3.61 earnings per share. Sell-side analysts predict that Hubbell Incorporated will post 16.35 EPS for the current year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be paid a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Thursday, May 30th. Hubbell’s dividend payout ratio is 36.39%.

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.