Avanza Fonder AB Acquires Shares of 5,842 Hubbell Incorporated (NYSE:HUBB)

Avanza Fonder AB purchased a new stake in Hubbell Incorporated (NYSE:HUBB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,842 shares of the industrial products company's stock, valued at approximately $2,447,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Groupama Asset Managment increased its holdings in shares of Hubbell by 17.0% in 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 during the period. Prospera Private Wealth LLC acquired a new position in Hubbell in the 3rd quarter valued at approximately $33,000. Versant Capital Management Inc boosted its stake in shares of Hubbell by 64.6% during the 4th 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. Ashton Thomas Securities LLC purchased a new position in shares of Hubbell during the 3rd quarter valued at $41,000. Finally, Quarry LP purchased a new position in shares of Hubbell during the 2nd quarter valued at $49,000. Institutional investors and hedge funds own 88.16% of the company's stock.

Insider Buying and Selling

In other news, insider Mark Eugene Mikes sold 1,144 shares of the firm's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the completion of the transaction, the insider now directly owns 2,957 shares of the company's stock, valued at approximately $1,378,553.40. This trade represents a 27.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.78% of the stock is currently owned by insiders.

Hubbell Stock Performance

HUBB traded up $3.60 during trading on Friday, hitting $437.52. The stock had a trading volume of 375,860 shares, compared to its average volume of 293,018. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. Hubbell Incorporated has a 12 month low of $322.27 and a 12 month high of $481.35. The company has a 50 day simple moving average of $442.54 and a 200-day simple moving average of $417.70. The firm has a market cap of $23.48 billion, a PE ratio of 31.52, a P/E/G ratio of 1.45 and a beta of 0.93.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, topping analysts' consensus estimates of $4.47 by $0.02. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the company posted $3.95 earnings per share. The firm's revenue for the quarter was up 4.9% on a year-over-year basis. Analysts expect that Hubbell Incorporated will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a $1.32 dividend. This is an increase from Hubbell's previous quarterly dividend of $1.22. The ex-dividend date was Friday, November 29th. This represents a $5.28 annualized dividend and a dividend yield of 1.21%. Hubbell's dividend payout ratio (DPR) is presently 38.04%.

Analyst Upgrades and Downgrades

HUBB has been the subject of a number of research reports. Barclays boosted their target price on Hubbell from $402.00 to $475.00 and gave the company an "equal weight" rating in a research note on Thursday, December 5th. Wells Fargo & Company lowered 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. StockNews.com upgraded shares of Hubbell from a "hold" rating to a "buy" rating in a research note on Thursday. Sanford C. Bernstein initiated coverage on shares of Hubbell in a report on Tuesday, November 5th. They set an "outperform" rating and a $535.00 price target on the stock. Finally, JPMorgan Chase & Co. cut shares of Hubbell from an "overweight" rating to a "neutral" rating and upped their price objective for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $471.50.

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.