Tredje AP fonden Has $1.75 Million Stake in Hubbell Incorporated (NYSE:HUBB)

Tredje AP fonden decreased its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 50.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 4,180 shares of the industrial products company’s stock after selling 4,180 shares during the period. Tredje AP fonden’s holdings in Hubbell were worth $1,751,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in HUBB. Mizuho Securities USA LLC boosted its stake in Hubbell by 192,421.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock valued at $3,418,233,000 after purchasing an additional 7,975,855 shares during the period. Impax Asset Management Group plc boosted its stake in Hubbell by 30.3% during the 3rd quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock valued at $514,377,000 after purchasing an additional 279,654 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Hubbell by 268.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 231,130 shares of the industrial products company’s stock valued at $99,005,000 after purchasing an additional 168,380 shares during the period. Raymond James Financial Inc. bought a new stake in Hubbell during the 4th quarter valued at approximately $63,647,000. Finally, Bank of New York Mellon Corp boosted its stake in Hubbell by 4.8% during the 4th quarter. Bank of New York Mellon Corp now owns 2,826,327 shares of the industrial products company’s stock valued at $1,183,920,000 after purchasing an additional 129,490 shares during the period. Institutional investors and hedge funds own 88.16% of the company’s stock.

Insider Transactions at Hubbell

In related news, insider Alyssa R. Flynn sold 1,164 shares of the firm’s stock in a transaction 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 directly owns 4,327 shares of the company’s stock, valued at $1,683,462.62. This trade represents a 21.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.66% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

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

Hubbell Trading Up 2.9 %

Shares of HUBB opened at $341.52 on Friday. Hubbell Incorporated has a 1 year low of $330.32 and a 1 year high of $481.35. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The stock has a 50 day simple moving average of $397.69 and a 200-day simple moving average of $421.34. The stock has a market cap of $18.33 billion, a PE ratio of 23.78, a PEG ratio of 1.34 and a beta of 0.94.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the prior year, the firm posted $3.69 EPS. Hubbell’s quarterly revenue was down .9% compared to the same quarter last year. On average, sell-side analysts predict that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell announced that its board has authorized a share buyback plan on Wednesday, February 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the industrial products company to repurchase up to 2.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a $1.32 dividend. The ex-dividend date is Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.55%. Hubbell’s payout ratio is presently 36.77%.

About Hubbell

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.