Fjarde AP Fonden Fourth Swedish National Pension Fund Has $2.39 Million Holdings in Hubbell Incorporated (NYSE:HUBB)

Fjarde AP Fonden Fourth Swedish National Pension Fund lessened its position in Hubbell Incorporated (NYSE:HUBB - Free Report) by 16.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,702 shares of the industrial products company's stock after selling 1,100 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Hubbell were worth $2,389,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in HUBB. MassMutual Private Wealth & Trust FSB increased its stake in Hubbell by 12.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company's stock worth $96,000 after buying an additional 25 shares during the period. JGP Wealth Management LLC increased its stake in Hubbell by 1.2% in the 4th quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company's stock worth $884,000 after buying an additional 26 shares during the period. Sanctuary Advisors LLC increased its stake in Hubbell by 0.5% in the 4th quarter. Sanctuary Advisors LLC now owns 5,422 shares of the industrial products company's stock worth $2,313,000 after buying an additional 27 shares during the period. Avestar Capital LLC increased its stake in Hubbell by 5.1% in the 3rd quarter. Avestar Capital LLC now owns 577 shares of the industrial products company's stock worth $247,000 after buying an additional 28 shares during the period. Finally, Catalyst Financial Partners LLC increased its stake in Hubbell by 4.6% in the 3rd quarter. Catalyst Financial Partners LLC now owns 701 shares of the industrial products company's stock worth $300,000 after buying an additional 31 shares during the period. Institutional investors own 88.16% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on HUBB. StockNews.com upgraded shares of Hubbell from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Sanford C. Bernstein began coverage on shares of Hubbell in a report on Tuesday, November 5th. They issued an "outperform" rating and a $535.00 price target on the stock. Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a "buy" rating to a "hold" rating and lowered their price target for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Barclays raised their price target on shares of Hubbell from $402.00 to $475.00 and gave the company an "equal weight" rating in a report on Thursday, December 5th. Finally, Wells Fargo & Company lowered their price target on shares of Hubbell from $455.00 to $450.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $471.50.

Insider Buying and Selling

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the firm's stock in a transaction 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 completion of the sale, the insider now owns 4,327 shares of the company's stock, valued at approximately $1,683,462.62. This trade represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.66% of the company's stock.

Hubbell Stock Up 0.6 %

Shares of HUBB stock traded up $2.24 during trading hours on Friday, reaching $371.51. 550,777 shares of the stock were exchanged, compared to its average volume of 629,510. The business's fifty day moving average is $413.77 and its two-hundred day moving average is $423.99. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. Hubbell Incorporated has a 12-month low of $346.13 and a 12-month high of $481.35. The firm has a market capitalization of $19.94 billion, a P/E ratio of 25.87, a P/E/G ratio of 1.34 and a beta of 0.92.

Hubbell (NYSE:HUBB - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 EPS for the quarter, beating the consensus estimate of $4.02 by $0.08. The company 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%. The firm's revenue was down .9% on a year-over-year basis. During the same period in the prior year, the firm posted $3.69 earnings per share. As a group, research analysts expect that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Friday, February 28th will be issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend is Friday, February 28th. Hubbell's dividend payout ratio is presently 36.77%.

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

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.