Allianz SE Takes Position in Hubbell Incorporated (NYSE:HUBB)

Allianz SE acquired a new position in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,040 shares of the industrial products company's stock, valued at approximately $436,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV increased its holdings in shares of Hubbell by 85.7% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock valued at $27,000 after acquiring an additional 30 shares in the last quarter. Groupama Asset Managment increased its stake in Hubbell by 17.0% during 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 in the last quarter. Stonebridge Financial Group LLC acquired a new position in Hubbell during the 4th quarter valued at approximately $30,000. Versant Capital Management Inc raised its holdings in shares of Hubbell by 64.6% in the fourth 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 last quarter. Finally, Venturi Wealth Management LLC lifted its stake in shares of Hubbell by 69.7% during the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company's stock worth $54,000 after buying an additional 53 shares during the period. Hedge funds and other institutional investors own 88.16% of the company's stock.

Hubbell Price Performance

HUBB traded down $5.66 during trading on Friday, hitting $315.69. The company's stock had a trading volume of 1,202,137 shares, compared to its average volume of 499,847. The firm has a market capitalization of $16.94 billion, a price-to-earnings ratio of 21.98, a P/E/G ratio of 1.34 and a beta of 0.95. Hubbell Incorporated has a twelve month low of $299.36 and a twelve month high of $481.35. The business's fifty day simple moving average is $367.74 and its 200 day simple moving average is $416.03. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44.

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Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 EPS for the quarter, topping the consensus estimate of $4.02 by $0.08. The company had revenue of $1.33 billion during the quarter, compared to analyst estimates of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The firm's revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.69 EPS. On average, equities research analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.67%. The ex-dividend date was Friday, February 28th. Hubbell's payout ratio is 36.77%.

Hubbell announced that its Board of Directors has approved a share buyback plan on Wednesday, February 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the industrial products company to repurchase 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.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on HUBB shares. StockNews.com upgraded Hubbell from a "hold" rating to a "buy" rating in a research note on Thursday. Wells Fargo & Company reduced their price objective on Hubbell from $455.00 to $450.00 and set an "equal weight" rating for the company in a research note on Tuesday, January 7th. Finally, Barclays dropped their target price on Hubbell from $422.00 to $400.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 26th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Hubbell presently has an average rating of "Hold" and an average price target of $462.13.

Insiders Place Their Bets

In other news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total value of $452,865.84. Following the sale, the insider now directly owns 4,327 shares of the company's stock, valued at $1,683,462.62. The trade was a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.66% of the stock is owned by company insiders.

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.