Mutual of Omaha Bank Wealth Management Acquires New Stake in Hubbell Incorporated (HUBB)

Mutual of Omaha Bank Wealth Management acquired a new stake in shares of Hubbell Incorporated (NYSE:HUBB) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 9,748 shares of the industrial products company’s stock, valued at approximately $1,319,000.

Other hedge funds have also recently bought and sold shares of the company. Cubist Systematic Strategies LLC purchased a new stake in shares of Hubbell during the second quarter valued at $182,000. Advisors Asset Management Inc. boosted its stake in shares of Hubbell by 1,122.0% during the third quarter. Advisors Asset Management Inc. now owns 1,613 shares of the industrial products company’s stock valued at $187,000 after purchasing an additional 1,481 shares during the period. Magnetar Financial LLC purchased a new stake in shares of Hubbell during the third quarter valued at $221,000. Oakwood Capital Management LLC CA purchased a new stake in shares of Hubbell during the fourth quarter valued at $225,000. Finally, MPS Loria Financial Planners LLC purchased a new stake in shares of Hubbell during the second quarter valued at $255,000. Institutional investors and hedge funds own 85.04% of the company’s stock.

A number of analysts have recently issued reports on HUBB shares. JPMorgan Chase & Co. reissued a “hold” rating on shares of Hubbell in a research note on Thursday, December 28th. BidaskClub raised shares of Hubbell from a “hold” rating to a “buy” rating in a research note on Friday, October 27th. Zacks Investment Research raised shares of Hubbell from a “hold” rating to a “buy” rating and set a $149.00 price objective for the company in a research note on Thursday, January 4th. Oppenheimer raised shares of Hubbell from a “market perform” rating to an “outperform” rating and set a $160.00 price objective for the company in a research note on Friday, January 12th. Finally, Wells Fargo & Co reaffirmed a “buy” rating and issued a $143.00 price objective (up from $136.00) on shares of Hubbell in a research note on Wednesday, December 20th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Hubbell currently has a consensus rating of “Buy” and an average price target of $153.60.

Shares of Hubbell Incorporated (HUBB) opened at $133.58 on Wednesday. Hubbell Incorporated has a one year low of $109.32 and a one year high of $149.03. The firm has a market cap of $7,316.87, a PE ratio of 30.36, a P/E/G ratio of 1.85 and a beta of 1.01. The company has a quick ratio of 1.37, a current ratio of 2.27 and a debt-to-equity ratio of 0.60.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $1.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.42 by $0.12. Hubbell had a net margin of 6.63% and a return on equity of 20.16%. The company had revenue of $917.70 million during the quarter, compared to analyst estimates of $901.23 million. During the same period in the prior year, the firm earned $1.35 earnings per share. The firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. analysts anticipate that Hubbell Incorporated will post 7.2 EPS for the current year.

Hubbell announced that its board has authorized a share buyback program on Friday, October 20th that allows the company to repurchase $400.00 million in shares. This repurchase authorization allows the industrial products company to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Wednesday, February 28th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend is Tuesday, February 27th. Hubbell’s dividend payout ratio (DPR) is presently 70.00%.

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Hubbell Company Profile

Hubbell Incorporated is engaged in the design, manufacture and sale of electrical and electronic products for a range of non-residential and residential construction, industrial and utility applications. The Company’s segments include Electrical and the Power. The Electrical segment consists of businesses that sell stock and custom products, including standard and special application wiring device products, rough-in electrical products, lighting fixtures and controls, components and assemblies for the natural gas distribution market, as well as other electrical equipment.

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Institutional Ownership by Quarter for Hubbell (NYSE:HUBB)

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