Mackenzie Financial Corp Raises Stock Position in Hubbell Incorporated (NYSE:HUBB)

Mackenzie Financial Corp boosted its holdings in Hubbell Incorporated (NYSE:HUBB) by 62.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,210 shares of the industrial products company’s stock after buying an additional 1,619 shares during the period. Mackenzie Financial Corp’s holdings in Hubbell were worth $1,385,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Baillie Gifford & Co. purchased a new position in shares of Hubbell during the fourth quarter valued at about $33,000. Grove Bank & Trust grew its position in shares of Hubbell by 14.3% during the third quarter. Grove Bank & Trust now owns 400 shares of the industrial products company’s stock valued at $125,000 after purchasing an additional 50 shares in the last quarter. Blue Trust Inc. grew its position in shares of Hubbell by 43.2% during the fourth quarter. Blue Trust Inc. now owns 424 shares of the industrial products company’s stock valued at $133,000 after purchasing an additional 128 shares in the last quarter. First Horizon Advisors Inc. grew its position in shares of Hubbell by 18.7% during the third quarter. First Horizon Advisors Inc. now owns 628 shares of the industrial products company’s stock valued at $197,000 after purchasing an additional 99 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC purchased a new position in Hubbell in the fourth quarter worth about $204,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Stock Performance

Shares of HUBB stock opened at $398.55 on Thursday. The firm has a market cap of $21.37 billion, a price-to-earnings ratio of 28.37, a PEG ratio of 2.38 and a beta of 0.94. The company’s 50 day moving average is $394.11 and its 200 day moving average is $341.52. The company has a quick ratio of 1.01, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. Hubbell Incorporated has a 52-week low of $248.37 and a 52-week high of $429.61.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.58 by $0.11. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.32 billion. Hubbell had a net margin of 14.14% and a return on equity of 30.82%. Hubbell’s revenue was up 10.3% compared to the same quarter last year. During the same period last year, the company posted $2.60 earnings per share. On average, sell-side analysts anticipate that Hubbell Incorporated will post 16.43 EPS for the current fiscal year.

Hubbell Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Thursday, February 29th were issued a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Wednesday, February 28th. Hubbell’s payout ratio is 34.73%.

Insider Activity at Hubbell

In other Hubbell news, CEO Gerben Bakker sold 13,355 shares of Hubbell stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $353.13, for a total value of $4,716,051.15. Following the transaction, the chief executive officer now directly owns 51,783 shares of the company’s stock, valued at $18,286,130.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Hubbell news, CEO Gerben Bakker sold 13,355 shares of Hubbell stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $353.13, for a total value of $4,716,051.15. Following the transaction, the chief executive officer now directly owns 51,783 shares of the company’s stock, valued at $18,286,130.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Nero Jonathan M. Del sold 1,098 shares of Hubbell stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $352.74, for a total transaction of $387,308.52. Following the completion of the transaction, the vice president now directly owns 3,646 shares in the company, valued at $1,286,090.04. The disclosure for this sale can be found here. Insiders have sold a total of 34,125 shares of company stock valued at $12,065,100 over the last ninety days. 0.78% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

HUBB has been the subject of several recent research reports. StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Wells Fargo & Company lifted their price target on Hubbell from $351.00 to $360.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. Mizuho lifted their price target on Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Deutsche Bank Aktiengesellschaft initiated coverage on Hubbell in a research report on Monday, March 11th. They issued a “hold” rating and a $427.00 price target for the company. Finally, Barclays lifted their price target on Hubbell from $340.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Hubbell presently has an average rating of “Moderate Buy” and a consensus target price of $383.57.

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.