APG Asset Management N.V. Makes New Investment in Hubbell Incorporated (NYSE:HUBB)

APG Asset Management N.V. acquired a new position in Hubbell Incorporated (NYSE:HUBB - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 28,300 shares of the industrial products company's stock, valued at approximately $11,448,000. APG Asset Management N.V. owned about 0.05% of Hubbell at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Hubbell during the fourth quarter valued at approximately $195,218,000. Raymond James Financial Inc. purchased a new position in shares of Hubbell in the 4th quarter valued at about $63,647,000. Bank of New York Mellon Corp increased its stake in shares of Hubbell by 4.8% during the fourth quarter. Bank of New York Mellon Corp now owns 2,826,327 shares of the industrial products company's stock worth $1,183,920,000 after purchasing an additional 129,490 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Hubbell in the fourth quarter valued at about $40,533,000. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Hubbell by 6.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,510,430 shares of the industrial products company's stock worth $632,704,000 after acquiring an additional 92,954 shares during the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 transaction, the insider now owns 4,327 shares of the company's stock, valued at approximately $1,683,462.62. The trade was a 21.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.66% of the company's stock.

Analyst Ratings Changes

HUBB has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered their price target on Hubbell from $430.00 to $352.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company reduced their price target on Hubbell from $455.00 to $450.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 7th. Barclays lowered their price objective on Hubbell from $422.00 to $400.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 26th. Finally, StockNews.com cut shares of Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $449.38.

Hubbell Price Performance

Shares of HUBB traded down $6.35 during midday trading on Wednesday, reaching $340.24. The stock had a trading volume of 125,535 shares, compared to its average volume of 515,476. The company has a market capitalization of $18.26 billion, a price-to-earnings ratio of 23.69, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. Hubbell Incorporated has a 12-month low of $299.43 and a 12-month high of $481.35. 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 moving average is $354.74 and its 200 day moving average is $410.80.

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

Hubbell announced that its Board of Directors has authorized a share buyback plan on Wednesday, February 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the industrial products company to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are undervalued.

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 given a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend was Friday, February 28th. Hubbell's payout ratio is 36.77%.

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.