Janus Henderson Group PLC Buys 123 Shares of Hubbell Incorporated (NYSE:HUBB)

Janus Henderson Group PLC raised its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 1.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 7,130 shares of the industrial products company’s stock after purchasing an additional 123 shares during the period. Janus Henderson Group PLC’s holdings in Hubbell were worth $2,988,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Janney Montgomery Scott LLC grew its stake in Hubbell by 122.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 28,723 shares of the industrial products company’s stock valued at $12,032,000 after acquiring an additional 15,806 shares in the last quarter. Smith Group Asset Management LLC boosted its holdings in shares of Hubbell by 1.6% during the 4th quarter. Smith Group Asset Management LLC now owns 67,042 shares of the industrial products company’s stock valued at $28,083,000 after purchasing an additional 1,049 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of Hubbell by 25.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 190 shares of the industrial products company’s stock valued at $80,000 after purchasing an additional 38 shares in the last quarter. Exchange Traded Concepts LLC increased its holdings in shares of Hubbell by 28.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 8,848 shares of the industrial products company’s stock worth $3,706,000 after purchasing an additional 1,957 shares during the last quarter. Finally, Portfolio Design Labs LLC bought a new stake in shares of Hubbell in the fourth quarter worth about $306,000. Institutional investors own 88.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on HUBB. Barclays cut their target price on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. JPMorgan Chase & Co. lifted their price objective on shares of Hubbell from $352.00 to $417.00 and gave the stock a “neutral” rating in a research note on Friday, May 16th. Finally, StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a report on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $457.50.

Hubbell Stock Performance

NYSE HUBB opened at $389.47 on Wednesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. The stock’s 50 day simple moving average is $349.32 and its 200-day simple moving average is $396.51. The company has a market cap of $20.79 billion, a PE ratio of 27.12, a price-to-earnings-growth ratio of 1.34 and a beta of 0.97. Hubbell Incorporated has a 1-year low of $299.43 and a 1-year high of $481.35.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Thursday, May 1st. The industrial products company reported $3.50 earnings per share for the quarter, missing analysts’ consensus estimates of $3.73 by ($0.23). The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.39 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The business’s quarterly revenue was down 2.4% on a year-over-year basis. During the same period last year, the firm posted $3.60 EPS. As a group, equities research analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be paid a dividend of $1.32 per share. The ex-dividend date is Friday, May 30th. This represents a $5.28 dividend on an annualized basis and a yield of 1.36%. Hubbell’s dividend payout ratio (DPR) is presently 35.72%.

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

Insider Transactions at Hubbell

In other news, CEO Gerben Bakker sold 7,723 shares of Hubbell stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $384.63, for a total transaction of $2,970,497.49. Following the sale, the chief executive officer now owns 82,101 shares in the company, valued at approximately $31,578,507.63. The trade was a 8.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Alyssa R. Flynn sold 1,164 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $389.06, for a total value of $452,865.84. Following the completion of the sale, the insider now directly owns 4,327 shares of the company’s stock, valued at approximately $1,683,462.62. This trade represents a 21.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

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.