Hubbell Incorporated (NYSE:HUBB) Holdings Lifted by ING Groep NV

ING Groep NV raised its position in Hubbell Incorporated (NYSE:HUBB - Free Report) by 32.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,855 shares of the industrial products company's stock after purchasing an additional 1,676 shares during the period. ING Groep NV's holdings in Hubbell were worth $2,871,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of HUBB. Mizuho Securities USA LLC boosted its holdings in Hubbell by 192,421.1% in the third quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company's stock valued at $3,418,233,000 after purchasing an additional 7,975,855 shares in the last quarter. Impax Asset Management Group plc lifted its position in shares of Hubbell by 30.3% during the 3rd quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company's stock worth $514,377,000 after buying an additional 279,654 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Hubbell by 268.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 231,130 shares of the industrial products company's stock valued at $99,005,000 after buying an additional 168,380 shares in the last quarter. LGT Capital Partners LTD. purchased a new position in shares of Hubbell in the 3rd quarter valued at $39,687,000. Finally, Massachusetts Financial Services Co. MA raised its stake in Hubbell by 6.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,417,476 shares of the industrial products company's stock worth $607,176,000 after acquiring an additional 82,258 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Trading Up 1.5 %

HUBB traded up $5.60 during trading on Wednesday, hitting $377.81. The company's stock had a trading volume of 697,487 shares, compared to its average volume of 635,510. Hubbell Incorporated has a twelve month low of $346.13 and a twelve month high of $481.35. The firm's 50 day moving average price is $416.93 and its 200-day moving average price is $424.37. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. The stock has a market cap of $20.28 billion, a PE ratio of 26.31, a PEG ratio of 1.34 and a beta of 0.92.

Hubbell (NYSE:HUBB - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.02 by $0.08. The company had revenue of $1.33 billion during 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 business's quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the company earned $3.69 EPS. On average, analysts expect that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The company 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 of this dividend is Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a yield of 1.40%. Hubbell's dividend payout ratio is currently 36.77%.

Hubbell announced that its Board of Directors has authorized a stock buyback program 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 repurchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

Analyst Ratings Changes

Several research firms have issued reports on HUBB. Sanford C. Bernstein started coverage on shares of Hubbell in a research note on Tuesday, November 5th. They issued an "outperform" rating and a $535.00 price objective for the company. Morgan Stanley upped their target price on Hubbell from $407.00 to $445.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft lowered Hubbell from a "buy" rating to a "hold" rating and cut their price target for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. StockNews.com raised Hubbell from a "hold" rating to a "buy" rating in a report on Monday, February 17th. Finally, Barclays raised their target price on shares of Hubbell from $402.00 to $475.00 and gave the stock an "equal weight" rating in a research 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 company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $471.50.

Insider Buying and Selling at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the 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 sale, the insider now directly owns 4,327 shares in the company, valued at approximately $1,683,462.62. This represents a 21.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is owned by 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.