Aware Super Pty Ltd as trustee of Aware Super Invests $1.20 Million in Hubbell Incorporated (NYSE:HUBB)

Aware Super Pty Ltd as trustee of Aware Super purchased a new position in Hubbell Incorporated (NYSE:HUBB - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,873 shares of the industrial products company's stock, valued at approximately $1,203,000.

Several other institutional investors have also recently made changes to their positions in the company. Canada Post Corp Registered Pension Plan purchased a new stake in Hubbell in the fourth quarter worth $3,085,000. SageView Advisory Group LLC bought a new position in Hubbell in the 4th quarter worth about $341,000. Optimize Financial Inc purchased a new position in shares of Hubbell during the fourth quarter worth approximately $232,000. Townsquare Capital LLC purchased a new position in shares of Hubbell during the fourth quarter worth approximately $1,128,000. Finally, Qtron Investments LLC bought a new stake in shares of Hubbell during the fourth quarter valued at approximately $515,000. Institutional investors own 88.16% of the company's stock.

Insider Buying and Selling at Hubbell

In related 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 transaction of $452,865.84. Following the completion of the transaction, the insider now directly owns 4,327 shares in the company, valued at approximately $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.66% of the company's stock.

Hubbell Stock Down 3.3 %

Shares of HUBB traded down $11.15 during midday trading on Monday, hitting $327.83. 51,242 shares of the company's stock traded hands, compared to its average volume of 516,830. The firm's fifty day moving average is $351.09 and its 200-day moving average is $408.82. Hubbell Incorporated has a 1 year low of $299.43 and a 1 year high of $481.35. The stock has a market capitalization of $17.59 billion, a price-to-earnings ratio of 22.83, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44.

Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.02 by $0.08. The business had revenue of $1.33 billion for 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%. Hubbell's revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.69 EPS. As a group, sell-side analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell announced that its board has initiated a stock repurchase program on Wednesday, February 12th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the industrial products company to purchase up to 2.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.61%. The ex-dividend date was Friday, February 28th. Hubbell's payout ratio is 36.77%.

Analyst Ratings Changes

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

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.