Livforsakringsbolaget Skandia Omsesidigt Buys 122 Shares of Hubbell Incorporated (NYSE:HUBB)

Livforsakringsbolaget Skandia Omsesidigt grew its position in Hubbell Incorporated (NYSE:HUBB) by 13.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,022 shares of the industrial products company’s stock after purchasing an additional 122 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Hubbell were worth $336,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC raised its holdings in Hubbell by 32,734.4% during the fourth quarter. International Assets Investment Management LLC now owns 1,472,949 shares of the industrial products company’s stock worth $484,497,000 after buying an additional 1,468,463 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Hubbell by 133.8% in the first quarter. Wellington Management Group LLP now owns 1,543,481 shares of the industrial products company’s stock valued at $283,646,000 after acquiring an additional 883,272 shares during the period. Norges Bank purchased a new stake in Hubbell in the fourth quarter valued at approximately $90,375,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of Hubbell by 46.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,020,067 shares of the industrial products company’s stock worth $319,699,000 after acquiring an additional 323,116 shares during the last quarter. Finally, Morgan Stanley raised its holdings in Hubbell by 44.1% during the 4th quarter. Morgan Stanley now owns 597,030 shares of the industrial products company’s stock valued at $140,111,000 after buying an additional 182,790 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Stock Performance

NYSE:HUBB traded up $3.05 during trading hours on Thursday, reaching $394.02. 10,528 shares of the stock were exchanged, compared to its average volume of 406,057. The stock has a market capitalization of $21.13 billion, a P/E ratio of 27.83, a P/E/G ratio of 2.41 and a beta of 0.94. Hubbell Incorporated has a 52 week low of $229.09 and a 52 week high of $429.61. The company has a quick ratio of 1.01, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. The firm has a 50 day simple moving average of $389.91 and a 200-day simple moving average of $338.09.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, January 30th. The industrial products company reported $3.69 EPS for the quarter, topping the consensus estimate of $3.58 by $0.11. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Hubbell had a return on equity of 30.82% and a net margin of 14.14%. Hubbell’s revenue was up 10.3% compared to the same quarter last year. During the same quarter last year, the firm posted $2.60 earnings per share. As a group, sell-side analysts forecast that Hubbell Incorporated will post 16.43 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were paid a $1.22 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.24%. Hubbell’s payout ratio is presently 34.73%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on HUBB shares. StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Deutsche Bank Aktiengesellschaft began coverage on shares of Hubbell in a report on Monday, March 11th. They set a “hold” rating and a $427.00 price objective for the company. Barclays raised their price target on Hubbell from $340.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Mizuho lifted their price objective on Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Finally, Wells Fargo & Company boosted their price target on Hubbell from $351.00 to $360.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $383.57.

Insider Transactions at Hubbell

In other Hubbell news, VP Nero Jonathan M. Del sold 1,098 shares of Hubbell stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $352.74, for a total transaction of $387,308.52. Following the sale, the vice president now directly owns 3,646 shares of the company’s stock, valued at $1,286,090.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Hubbell news, VP Nero Jonathan M. Del sold 1,098 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $352.74, for a total transaction of $387,308.52. Following the completion of the sale, the vice president now owns 3,646 shares in the company, valued at approximately $1,286,090.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mark Eugene Mikes sold 1,837 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $358.16, for a total transaction of $657,939.92. Following the completion of the transaction, the insider now directly owns 5,296 shares of the company’s stock, valued at $1,896,815.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,125 shares of company stock worth $12,065,100. Company insiders own 0.66% of the company’s stock.

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.