Hubbell Incorporated (NYSE:HUBB) Shares Acquired by Nordea Investment Management AB

Nordea Investment Management AB raised its stake in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 29.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 160,630 shares of the industrial products company's stock after buying an additional 36,643 shares during the quarter. Nordea Investment Management AB owned about 0.30% of Hubbell worth $67,503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Everence Capital Management Inc. bought a new position in Hubbell during the fourth quarter valued at approximately $427,000. GAMMA Investing LLC raised its holdings in shares of Hubbell by 133.1% during the 4th quarter. GAMMA Investing LLC now owns 366 shares of the industrial products company's stock worth $153,000 after acquiring an additional 209 shares in the last quarter. Versant Capital Management Inc boosted its position 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 acquiring an additional 31 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Hubbell by 7.1% in the third quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company's stock valued at $98,187,000 after purchasing an additional 15,215 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. bought a new stake in Hubbell in the third quarter worth $727,000. Institutional investors own 88.16% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Sanford C. Bernstein initiated coverage on Hubbell in a research report on Tuesday, November 5th. They set an "outperform" rating and a $535.00 target price on the stock. JPMorgan Chase & Co. cut shares of Hubbell from an "overweight" rating to a "neutral" rating and boosted their price objective for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Barclays lifted their price target on shares of Hubbell from $402.00 to $475.00 and gave the stock an "equal weight" rating in a research note on Thursday, December 5th. Morgan Stanley increased their price objective on shares of Hubbell from $407.00 to $445.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. Finally, StockNews.com lowered Hubbell from a "buy" rating to a "hold" rating in a research report on Tuesday, December 3rd. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $471.50.

Hubbell Stock Up 0.2 %

Shares of HUBB stock traded up $0.80 during trading hours on Wednesday, reaching $434.76. 333,073 shares of the company's stock were exchanged, compared to its average volume of 326,915. The stock has a market cap of $23.33 billion, a PE ratio of 31.32, a PEG ratio of 1.69 and a beta of 0.93. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. The stock's fifty day moving average price is $444.93 and its two-hundred day moving average price is $414.36. Hubbell Incorporated has a 1 year low of $319.03 and a 1 year high of $481.35.

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

Hubbell Increases Dividend

The firm 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. The ex-dividend date of this dividend was Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.21%. This is a positive change from Hubbell's previous quarterly dividend of $1.22. Hubbell's dividend payout ratio is presently 38.04%.

Insider Buying and Selling

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the company's stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value of $533,332.80. Following the sale, the insider now owns 2,957 shares in the company, valued at approximately $1,378,553.40. This represents a 27.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.66% of the stock is currently owned by corporate insiders.

Hubbell 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.