Thrivent Financial for Lutherans Has $4.95 Million Holdings in Hubbell Incorporated (NYSE:HUBB)

Thrivent Financial for Lutherans boosted its holdings in Hubbell Incorporated (NYSE:HUBB) by 32.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 11,094 shares of the industrial products company’s stock after acquiring an additional 2,713 shares during the period. Thrivent Financial for Lutherans’ holdings in Hubbell were worth $4,948,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Hubbell by 268.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 231,130 shares of the industrial products company’s stock valued at $99,005,000 after buying an additional 168,380 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Hubbell during the 4th quarter worth $63,647,000. Bank of New York Mellon Corp increased its position in shares of Hubbell by 4.8% in the fourth quarter. Bank of New York Mellon Corp now owns 2,826,327 shares of the industrial products company’s stock worth $1,183,920,000 after purchasing an additional 129,490 shares during the period. Proficio Capital Partners LLC bought a new stake in Hubbell during the fourth quarter worth about $40,533,000. Finally, Vontobel Holding Ltd. grew its stake in Hubbell by 9,720.7% during the fourth quarter. Vontobel Holding Ltd. now owns 74,048 shares of the industrial products company’s stock worth $31,018,000 after buying an additional 73,294 shares in the last quarter. Institutional investors own 88.16% of the company’s stock.

Insider Transactions at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were 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 of the company’s stock, valued at approximately $1,683,462.62. This represents a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.66% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

HUBB has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft downgraded 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 report on Tuesday, November 26th. StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Barclays lowered their price target on Hubbell from $475.00 to $422.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Finally, Wells Fargo & Company reduced their price objective on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $464.88.

Hubbell Stock Performance

Hubbell stock opened at $349.55 on Tuesday. The business has a 50 day moving average of $387.00 and a 200-day moving average of $419.90. The company has a market capitalization of $18.76 billion, a P/E ratio of 24.34, a P/E/G ratio of 1.34 and a beta of 0.94. Hubbell Incorporated has a 1 year low of $330.32 and a 1 year high of $481.35. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.08. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter last year, the firm earned $3.69 earnings per share. The company’s revenue for the quarter was down .9% on a year-over-year basis. On average, equities research analysts predict that Hubbell Incorporated will post 17.63 earnings per share for the current year.

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 repurchase up to 2.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Hubbell Dividend Announcement

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

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.