Hubbell Incorporated (NYSE:HUBB) is Impax Asset Management Group plc's 10th Largest Position

Impax Asset Management Group plc lessened its stake in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 14.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,024,120 shares of the industrial products company's stock after selling 178,335 shares during the quarter. Hubbell makes up 1.9% of Impax Asset Management Group plc's holdings, making the stock its 10th biggest holding. Impax Asset Management Group plc owned approximately 1.91% of Hubbell worth $428,301,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Stonebridge Financial Group LLC bought a new stake in shares of Hubbell in the fourth quarter worth $30,000. Prospera Private Wealth LLC acquired a new stake in shares of Hubbell during the third quarter worth $33,000. Versant Capital Management Inc grew its stake in Hubbell by 64.6% during the fourth quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company's stock worth $33,000 after purchasing an additional 31 shares during the period. Ashton Thomas Securities LLC acquired a new position in Hubbell in the third quarter valued at approximately $41,000. Finally, Venturi Wealth Management LLC boosted its stake in Hubbell by 69.7% during the fourth quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company's stock worth $54,000 after acquiring an additional 53 shares in the last quarter. Institutional investors own 88.16% of the company's stock.

Hubbell Price Performance

HUBB stock traded down $8.31 during midday trading on Thursday, reaching $369.08. The company had a trading volume of 486,395 shares, compared to its average volume of 631,584. The firm has a 50-day moving average price of $415.98 and a 200-day moving average price of $424.05. The company has a market capitalization of $19.81 billion, a P/E ratio of 25.70, a P/E/G ratio of 1.34 and a beta of 0.92. Hubbell Incorporated has a 1 year low of $346.13 and a 1 year high of $481.35. 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 (NYSE:HUBB - Get Free Report) last released its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 EPS for the quarter, beating analysts' consensus estimates of $4.02 by $0.08. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The business had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.41 billion. During the same quarter in the prior year, the firm earned $3.69 earnings per share. The firm's revenue was down .9% on a year-over-year basis. On average, research analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.43%. The ex-dividend date is Friday, February 28th. Hubbell's payout ratio is currently 36.77%.

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

Analysts Set New Price Targets

HUBB has been the topic of a number of recent research reports. StockNews.com raised shares of Hubbell from a "hold" rating to a "buy" rating in a research note on Monday, February 17th. Wells Fargo & Company dropped their target price on shares of Hubbell from $455.00 to $450.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 7th. Barclays boosted their price target on shares of Hubbell from $402.00 to $475.00 and gave the company an "equal weight" rating in a research report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft downgraded Hubbell from a "buy" rating to a "hold" rating and cut their target price for the stock from $493.00 to $473.00 in a research note on Tuesday, November 26th. Finally, Sanford C. Bernstein initiated coverage on Hubbell in a research report on Tuesday, November 5th. They set an "outperform" rating and a $535.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $471.50.

Insiders Place Their Bets

In other news, insider Alyssa R. Flynn sold 1,164 shares of Hubbell stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $389.06, for a total value of $452,865.84. Following the transaction, the insider now owns 4,327 shares in the company, valued at approximately $1,683,462.62. The trade was a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.66% of the company's stock.

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.