Fjarde AP Fonden Fourth Swedish National Pension Fund Reduces Holdings in Hubbell Incorporated (NYSE:HUBB)

Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its position in shares of Hubbell Incorporated (NYSE:HUBB) by 16.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,702 shares of the industrial products company’s stock after selling 1,100 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Hubbell were worth $2,389,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HUBB. Private Advisor Group LLC increased its stake in Hubbell by 10.8% during the 3rd quarter. Private Advisor Group LLC now owns 5,196 shares of the industrial products company’s stock worth $2,226,000 after buying an additional 508 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in 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 buying an additional 986 shares during the period. State of Alaska Department of Revenue increased its stake in 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 buying an additional 420 shares during the period. J.W. Cole Advisors Inc. increased its stake in Hubbell by 9.0% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 1,155 shares of the industrial products company’s stock worth $495,000 after buying an additional 95 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in 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 acquiring an additional 270 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Activity at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $389.06, for a total transaction of $452,865.84. Following the sale, the insider now directly owns 4,327 shares in the company, valued at approximately $1,683,462.62. The trade was a 21.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.66% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have weighed in on HUBB shares. Barclays raised their price objective on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a report on Monday, February 17th. Sanford C. Bernstein began coverage on shares of Hubbell in a report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price objective for the company. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and decreased their price target for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Finally, Morgan Stanley lifted their price target on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $471.50.

Hubbell Trading Up 1.5 %

Shares of NYSE:HUBB opened at $377.81 on Thursday. The company has a market cap of $20.28 billion, a PE ratio of 26.31, a P/E/G ratio of 1.34 and a beta of 0.92. The company’s 50-day moving average price is $416.93 and its 200 day moving average price is $424.37. Hubbell Incorporated has a fifty-two week low of $346.13 and a fifty-two week high of $481.35. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data 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. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. Hubbell’s quarterly revenue was down .9% compared to the same quarter last year. During the same period last year, the firm posted $3.69 EPS. Sell-side analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell announced that its board has approved a share repurchase program on Wednesday, February 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to repurchase up to 2.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its shares are undervalued.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be given a $1.32 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $5.28 annualized dividend and a yield of 1.40%. Hubbell’s dividend payout ratio is presently 36.77%.

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.