Thrivent Financial for Lutherans Acquires 2,713 Shares of Hubbell Incorporated (NYSE:HUBB)

Thrivent Financial for Lutherans raised its stake in Hubbell Incorporated (NYSE:HUBB) by 32.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,094 shares of the industrial products company’s stock after buying an additional 2,713 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Hubbell were worth $4,948,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Nwam LLC acquired a new position in Hubbell in the 3rd quarter worth $318,000. Cerity Partners LLC boosted its position in shares of Hubbell by 54.1% during the third quarter. Cerity Partners LLC now owns 9,326 shares of the industrial products company’s stock worth $3,995,000 after buying an additional 3,273 shares during the period. Kingsview Wealth Management LLC boosted its position in shares of Hubbell by 1.0% during the third quarter. Kingsview Wealth Management LLC now owns 3,288 shares of the industrial products company’s stock worth $1,408,000 after buying an additional 31 shares during the period. Swedbank AB grew its holdings in shares of Hubbell by 5.1% during the third quarter. Swedbank AB now owns 43,308 shares of the industrial products company’s stock worth $18,551,000 after buying an additional 2,100 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its position in Hubbell by 7.2% in the 3rd quarter. Daiwa Securities Group Inc. now owns 32,635 shares of the industrial products company’s stock valued at $13,980,000 after buying an additional 2,187 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Wall Street Analysts Forecast Growth

HUBB has been the subject of several research reports. Barclays decreased their price target on shares of Hubbell from $475.00 to $422.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. Wells Fargo & Company decreased their target price on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a “buy” rating to a “hold” rating and cut their price target for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. Finally, StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $464.88.

Insider Activity 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. 0.66% of the stock is owned by company insiders.

Hubbell Price Performance

NYSE:HUBB opened at $349.55 on Tuesday. Hubbell Incorporated has a 12-month low of $330.32 and a 12-month high of $481.35. The firm has a market capitalization of $18.76 billion, a price-to-earnings ratio of 24.34, a P/E/G ratio of 1.34 and a beta of 0.94. The stock’s 50 day moving average price is $387.00 and its two-hundred day moving average price is $419.90. 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 (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $4.02 by $0.08. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The business had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the prior year, the business earned $3.69 EPS. The firm’s revenue for the quarter was down .9% on a year-over-year basis. On average, analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.51%. The ex-dividend date was Friday, February 28th. Hubbell’s payout ratio is 36.77%.

Hubbell announced that its board has authorized a stock buyback program on Wednesday, February 12th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the industrial products company to purchase up to 2.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

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.