Allianz SE Makes New Investment in Hubbell Incorporated (NYSE:HUBB)

Allianz SE purchased a new stake in Hubbell Incorporated (NYSE:HUBB) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,040 shares of the industrial products company’s stock, valued at approximately $436,000.

A number of other large investors have also made changes to their positions in HUBB. Creative Financial Designs Inc. ADV increased its holdings in shares of Hubbell by 85.7% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 30 shares in the last quarter. Groupama Asset Managment grew its position in shares of Hubbell by 17.0% in the 3rd quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 1,010 shares during the period. Stonebridge Financial Group LLC bought a new stake in Hubbell during the 4th quarter worth approximately $30,000. Versant Capital Management Inc raised its holdings in Hubbell by 64.6% during the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock worth $33,000 after buying an additional 31 shares during the period. Finally, Venturi Wealth Management LLC lifted its stake in Hubbell by 69.7% in the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock valued at $54,000 after buying an additional 53 shares in the last quarter. Institutional investors own 88.16% of the company’s stock.

Insider Activity

In related news, insider Alyssa R. Flynn sold 1,164 shares of the firm’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 in the company, valued at approximately $1,683,462.62. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HUBB. Barclays lowered their price objective on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Finally, Wells Fargo & Company cut their price target on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $462.13.

Hubbell Trading Down 3.0 %

Hubbell stock opened at $331.68 on Monday. 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 firm has a 50-day moving average of $379.97 and a 200-day moving average of $418.86. The company has a market cap of $17.80 billion, a price-to-earnings ratio of 23.10, a P/E/G ratio of 1.34 and a beta of 0.94. Hubbell Incorporated has a one year low of $330.00 and a one year high of $481.35.

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, topping the consensus estimate of $4.02 by $0.08. The firm had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.41 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The business’s quarterly revenue was down .9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.69 EPS. On average, equities analysts expect that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell announced that its board has initiated a stock repurchase plan on Wednesday, February 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the industrial products company to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date was Friday, February 28th. Hubbell’s dividend payout ratio is currently 36.77%.

Hubbell Company 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.