Hubbell Incorporated (NYSE:HUBB) Shares Purchased by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt grew its position in Hubbell Incorporated (NYSE:HUBB) by 13.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,022 shares of the industrial products company’s stock after acquiring an additional 122 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Hubbell were worth $336,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in HUBB. International Assets Investment Management LLC increased its position in shares of Hubbell by 32,734.4% in 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 acquiring an additional 1,468,463 shares in the last quarter. Wellington Management Group LLP raised its stake in Hubbell by 133.8% during the 1st 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 in the last quarter. Norges Bank bought a new stake in shares of Hubbell in the 4th quarter worth $90,375,000. Massachusetts Financial Services Co. MA raised its stake 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 buying an additional 323,116 shares in the last quarter. Finally, Morgan Stanley grew its holdings in shares of Hubbell by 44.1% in the 4th quarter. Morgan Stanley now owns 597,030 shares of the industrial products company’s stock worth $140,111,000 after acquiring an additional 182,790 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Activity

In related news, VP Nero Jonathan M. Del sold 1,098 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now directly owns 3,646 shares in the company, valued at $1,286,090.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Hubbell news, insider Mark Eugene Mikes sold 397 shares of Hubbell stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $363.45, for a total value of $144,289.65. Following the completion of the sale, the insider now owns 4,899 shares in the company, valued at approximately $1,780,541.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Nero Jonathan M. Del sold 1,098 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $352.74, for a total value of $387,308.52. Following the completion of the transaction, the vice president now owns 3,646 shares of the company’s stock, valued at approximately $1,286,090.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,125 shares of company stock valued at $12,065,100. 0.66% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

HUBB has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft began coverage on Hubbell in a research note on Monday, March 11th. They issued a “hold” rating and a $427.00 target price on the stock. StockNews.com downgraded Hubbell from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Barclays increased their price target on Hubbell from $340.00 to $400.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 2nd. Mizuho increased their target price on Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Finally, Wells Fargo & Company raised their price objective on Hubbell from $351.00 to $360.00 and gave the company an “equal weight” rating in a report on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $383.57.

Hubbell Price Performance

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

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

Hubbell Dividend Announcement

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

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.