Hubbell Incorporated (NYSE:HUBB) Shares Acquired by Mackenzie Financial Corp

Mackenzie Financial Corp grew its position in Hubbell Incorporated (NYSE:HUBB) by 62.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,210 shares of the industrial products company’s stock after purchasing an additional 1,619 shares during the quarter. Mackenzie Financial Corp’s holdings in Hubbell were worth $1,385,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Strs Ohio grew its position in shares of Hubbell by 13.0% in the 4th quarter. Strs Ohio now owns 5,869 shares of the industrial products company’s stock valued at $1,930,000 after buying an additional 677 shares during the last quarter. Lecap Asset Management Ltd. purchased a new position in shares of Hubbell in the 4th quarter valued at $928,000. Louisiana State Employees Retirement System purchased a new position in shares of Hubbell in the 4th quarter valued at $1,053,000. Cerity Partners LLC purchased a new position in shares of Hubbell in the 4th quarter valued at $564,000. Finally, Sequoia Financial Advisors LLC purchased a new position in shares of Hubbell in the 4th quarter valued at $1,276,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Hubbell

In related news, CEO Gerben Bakker sold 13,355 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $353.13, for a total transaction of $4,716,051.15. Following the transaction, the chief executive officer now owns 51,783 shares of the company’s stock, valued at $18,286,130.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Gerben Bakker sold 13,355 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $353.13, for a total transaction of $4,716,051.15. Following the completion of the transaction, the chief executive officer now owns 51,783 shares of the company’s stock, valued at $18,286,130.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Katherine Anne Lane sold 1,468 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $352.51, for a total transaction of $517,484.68. Following the transaction, the vice president now directly owns 9,355 shares of the company’s stock, valued at approximately $3,297,731.05. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,125 shares of company stock valued at $12,065,100. Company insiders own 0.78% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Hubbell Stock Up 0.1 %

Shares of NYSE HUBB opened at $398.55 on Thursday. 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. The firm has a 50-day moving average price of $394.11 and a 200 day moving average price of $341.52. The stock has a market capitalization of $21.37 billion, a price-to-earnings ratio of 28.37, a price-to-earnings-growth ratio of 2.38 and a beta of 0.94.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.58 by $0.11. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Hubbell had a net margin of 14.14% and a return on equity of 30.82%. The firm’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.60 earnings per share. Equities research analysts anticipate that Hubbell Incorporated will post 16.43 EPS for the current fiscal year.

Hubbell Announces Dividend

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

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.