Tredje AP fonden Lowers Holdings in Hubbell Incorporated (NYSE:HUBB)

Tredje AP fonden lowered its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 1.6% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 8,360 shares of the industrial products company’s stock after selling 132 shares during the period. Tredje AP fonden’s holdings in Hubbell were worth $3,055,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Nordea Investment Management AB boosted its holdings in Hubbell by 4.1% during the first quarter. Nordea Investment Management AB now owns 160,085 shares of the industrial products company’s stock worth $66,571,000 after buying an additional 6,275 shares in the last quarter. Clearbridge Investments LLC acquired a new position in Hubbell in the 4th quarter worth about $1,258,000. Focus Financial Network Inc. ADV purchased a new position in Hubbell during the fourth quarter worth approximately $636,000. TD Asset Management Inc grew its holdings in Hubbell by 343.8% in the fourth quarter. TD Asset Management Inc now owns 43,785 shares of the industrial products company’s stock valued at $14,402,000 after purchasing an additional 33,920 shares during the period. Finally, IFG Advisory LLC purchased a new stake in shares of Hubbell in the second quarter valued at approximately $475,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Price Performance

HUBB stock opened at $422.54 on Friday. Hubbell Incorporated has a 1 year low of $248.37 and a 1 year high of $429.61. The firm has a market capitalization of $22.68 billion, a PE ratio of 31.51, a price-to-earnings-growth ratio of 1.44 and a beta of 0.90. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.81 and a quick ratio of 1.13. The business has a 50 day simple moving average of $380.87 and a 200-day simple moving average of $388.39.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, topping the consensus estimate of $4.24 by $0.13. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The business had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the firm earned $4.07 EPS. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. Equities research analysts anticipate that Hubbell Incorporated will post 16.45 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were paid a $1.22 dividend. The ex-dividend date was Friday, August 30th. This represents a $4.88 annualized dividend and a dividend yield of 1.15%. Hubbell’s dividend payout ratio (DPR) is 36.39%.

Insider Transactions at Hubbell

In related news, Director Carlos M. Cardoso sold 450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total value of $164,043.00. Following the completion of the transaction, the director now directly owns 1,670 shares in the company, valued at $608,781.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Gerben Bakker sold 15,677 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $374.34, for a total value of $5,868,528.18. Following the sale, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carlos M. Cardoso sold 450 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total transaction of $164,043.00. Following the transaction, the director now directly owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on HUBB shares. Morgan Stanley started coverage on shares of Hubbell in a research note on Friday, September 6th. They issued an “equal weight” rating and a $407.00 price target on the stock. JPMorgan Chase & Co. boosted their target price on shares of Hubbell from $383.00 to $385.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Barclays decreased their price target on shares of Hubbell from $384.00 to $368.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 31st. Wells Fargo & Company boosted their price objective on Hubbell from $397.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 31st. Finally, Stephens reissued an “overweight” rating and set a $450.00 target price on shares of Hubbell in a report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $404.88.

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.