Hubbell Incorporated (NYSE:HUBB) Shares Acquired by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. grew its position in Hubbell Incorporated (NYSE:HUBB) by 2.0% in the fourth quarter, HoldingsChannel reports. The fund owned 20,900 shares of the industrial products company’s stock after acquiring an additional 400 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Hubbell were worth $8,755,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of HUBB. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Hubbell by 38.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,562 shares of the industrial products company’s stock worth $1,526,000 after purchasing an additional 986 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of Hubbell by 7.2% during the 3rd quarter. State of Alaska Department of Revenue now owns 6,236 shares of the industrial products company’s stock worth $2,671,000 after purchasing an additional 420 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Hubbell by 5.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 5,601 shares of the industrial products company’s stock worth $2,399,000 after purchasing an additional 270 shares during the last quarter. First Trust Direct Indexing L.P. raised its position in shares of Hubbell by 76.7% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 2,044 shares of the industrial products company’s stock worth $876,000 after purchasing an additional 887 shares during the last quarter. Finally, Catalyst Financial Partners LLC raised its position in shares of Hubbell by 4.6% during the 3rd quarter. Catalyst Financial Partners LLC now owns 701 shares of the industrial products company’s stock worth $300,000 after purchasing an additional 31 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Stock Performance

Hubbell stock opened at $371.51 on Friday. The firm has a 50 day simple moving average of $414.87 and a 200-day simple moving average of $423.67. Hubbell Incorporated has a 1-year low of $346.13 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. The stock has a market cap of $19.94 billion, a price-to-earnings ratio of 25.87, a price-to-earnings-growth ratio of 1.34 and a beta of 0.92.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share 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 business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same quarter in the prior year, the company posted $3.69 EPS. The business’s revenue for the quarter was down .9% on a year-over-year basis. On average, analysts expect that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a $1.32 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $5.28 annualized dividend and a dividend yield of 1.42%. Hubbell’s dividend payout ratio (DPR) is 36.77%.

Hubbell declared that its board has authorized a share 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 buy up to 2.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on HUBB shares. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Monday, February 17th. Wells Fargo & Company reduced their price target on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. Sanford C. Bernstein initiated coverage on shares of Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price objective for the company. Barclays increased their price objective on shares of Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a “buy” rating to a “hold” rating and cut their price objective for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $471.50.

Insider Activity

In related 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 transaction, the insider now 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.