AIA Group Ltd Takes Position in Hubbell Incorporated (NYSE:HUBB)

AIA Group Ltd acquired a new stake in 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 4,800 shares of the industrial products company's stock, valued at approximately $2,011,000.

Several other large investors also recently made changes to their positions in HUBB. Creative Financial Designs Inc. ADV grew its position in shares of Hubbell by 85.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock worth $27,000 after buying an additional 30 shares during the period. Stonebridge Financial Group LLC bought a new stake in Hubbell in the fourth quarter valued at about $30,000. Versant Capital Management Inc lifted its stake in Hubbell by 64.6% in the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company's stock valued at $33,000 after buying an additional 31 shares during the period. Venturi Wealth Management LLC boosted its stake in Hubbell by 69.7% during the 4th quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company's stock worth $54,000 after acquiring an additional 53 shares during the last quarter. Finally, Golden State Wealth Management LLC acquired a new stake in Hubbell in the fourth quarter worth $69,000. Institutional investors own 88.16% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on HUBB shares. StockNews.com upgraded Hubbell from a "hold" rating to a "buy" rating in a report on Thursday. Wells Fargo & Company decreased their price target 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 price target on shares of 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 data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $462.13.

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Insider Transactions at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $389.06, for a total value of $452,865.84. Following the transaction, the insider now owns 4,327 shares in the company, valued at approximately $1,683,462.62. The trade was a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.66% of the company's stock.

Hubbell Stock Down 1.8 %

NYSE HUBB traded down $5.66 during mid-day 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 500,047. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The company's 50 day simple moving average is $367.74 and its 200 day simple moving average is $416.07. Hubbell Incorporated has a twelve month low of $299.43 and a twelve month high of $481.35. The firm has a market capitalization of $16.94 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 1.34 and a beta of 0.95.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings results 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 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 for the quarter was down .9% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.69 earnings per share. Analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Friday, February 28th were paid a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend was Friday, February 28th. Hubbell's dividend payout ratio (DPR) is currently 36.77%.

Hubbell announced that its Board of Directors has authorized a stock buyback plan on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the industrial products company to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

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.