Handelsbanken Fonder AB Buys 15,719 Shares of Hubbell Incorporated (NYSE:HUBB)

Handelsbanken Fonder AB increased its position in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 41.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 53,858 shares of the industrial products company's stock after purchasing an additional 15,719 shares during the quarter. Handelsbanken Fonder AB owned approximately 0.10% of Hubbell worth $22,561,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in HUBB. Creative Planning increased its position in shares of Hubbell by 19.3% during the third quarter. Creative Planning now owns 4,144 shares of the industrial products company's stock valued at $1,775,000 after acquiring an additional 671 shares during the last quarter. Blue Trust Inc. increased its position in shares of Hubbell by 61.9% during the 3rd quarter. Blue Trust Inc. now owns 518 shares of the industrial products company's stock valued at $222,000 after purchasing an additional 198 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of Hubbell by 1.6% in the 3rd quarter. Raymond James & Associates now owns 60,582 shares of the industrial products company's stock worth $25,950,000 after buying an additional 931 shares during the last quarter. OLD National Bancorp IN boosted its holdings in shares of Hubbell by 3.8% in the 3rd quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company's stock worth $255,000 after buying an additional 22 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its position in Hubbell by 2.6% during the third quarter. Sequoia Financial Advisors LLC now owns 5,889 shares of the industrial products company's stock valued at $2,523,000 after buying an additional 152 shares during the period. 88.16% of the stock is owned by institutional investors.

Hubbell Trading Down 1.7 %

Shares of NYSE:HUBB traded down $6.25 during trading on Monday, reaching $371.23. 548,366 shares of the company traded hands, compared to its average volume of 618,497. 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 Incorporated has a 52-week low of $346.13 and a 52-week high of $481.35. The business's fifty day moving average is $420.03 and its 200-day moving average is $424.45. The firm has a market capitalization of $19.92 billion, a price-to-earnings ratio of 25.85, a P/E/G ratio of 1.34 and a beta of 0.92.

Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.41 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The company's revenue for the quarter was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.69 earnings per share. As a group, analysts forecast that Hubbell Incorporated will post 17.63 EPS for the current year.

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

Hubbell Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on HUBB. StockNews.com upgraded shares of Hubbell from a "hold" rating to a "buy" rating in a research note on Monday, February 17th. Deutsche Bank Aktiengesellschaft downgraded Hubbell from a "buy" rating to a "hold" rating and dropped their price objective for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Sanford C. Bernstein began coverage on Hubbell in a research report on Tuesday, November 5th. They issued an "outperform" rating and a $535.00 target price for the company. Wells Fargo & Company dropped 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. Finally, Barclays lifted their price objective on Hubbell from $402.00 to $475.00 and gave the stock an "equal weight" rating in a report on Thursday, December 5th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price 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.