National Pension Service Has $30.06 Million Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

National Pension Service trimmed its position in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 9.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,752 shares of the industrial products company's stock after selling 7,200 shares during the period. National Pension Service owned approximately 0.13% of Hubbell worth $30,056,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HUBB. Mizuho Securities USA LLC increased its holdings in Hubbell by 192,421.1% in the 3rd 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 buying an additional 7,975,855 shares during the period. Impax Asset Management Group plc increased its stake in Hubbell by 30.3% in the third quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company's stock valued at $514,377,000 after acquiring an additional 279,654 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Hubbell by 268.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 231,130 shares of the industrial products company's stock valued at $99,005,000 after acquiring an additional 168,380 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Hubbell by 4.8% in the 4th quarter. Bank of New York Mellon Corp now owns 2,826,327 shares of the industrial products company's stock valued at $1,183,920,000 after purchasing an additional 129,490 shares during the period. Finally, LGT Capital Partners LTD. bought a new stake in shares of Hubbell in the 3rd quarter valued at approximately $39,687,000. 88.16% of the stock is currently owned by institutional investors.

Hubbell Price Performance

Shares of NYSE HUBB traded down $17.38 during trading on Monday, reaching $354.21. The company had a trading volume of 724,441 shares, compared to its average volume of 458,642. Hubbell Incorporated has a 52 week low of $346.13 and a 52 week high of $481.35. The business's 50 day moving average price is $412.33 and its 200-day moving average price is $424.12. The stock has a market cap of $19.01 billion, a PE ratio of 24.67, a PEG ratio of 1.34 and a beta of 0.92. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64.

Hubbell (NYSE:HUBB - Get Free Report) last announced its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.02 by $0.08. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The company had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the prior year, the business earned $3.69 earnings per share. Hubbell's quarterly revenue was down .9% on a year-over-year basis. Analysts expect that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.49%. The ex-dividend date of this dividend is Friday, February 28th. Hubbell's dividend payout ratio (DPR) is presently 36.77%.

Hubbell declared that its board has authorized a share buyback 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 reacquire up to 2.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

Analyst Ratings Changes

HUBB has been the topic of several analyst reports. Wells Fargo & Company lowered their price objective on Hubbell from $455.00 to $450.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 7th. StockNews.com upgraded Hubbell from a "hold" rating to a "buy" rating in a research report on Monday, February 17th. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a "buy" rating to a "hold" rating and lowered their target price for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. Barclays lowered their target price on shares of Hubbell from $475.00 to $422.00 and set an "equal weight" rating on the stock in a report on Monday. Finally, Sanford C. Bernstein started coverage on shares of Hubbell in a report on Tuesday, November 5th. They set an "outperform" rating and a $535.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $464.88.

Insider Activity

In related news, insider Alyssa R. Flynn sold 1,164 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total value of $452,865.84. Following the transaction, the insider now directly owns 4,327 shares in the company, valued at $1,683,462.62. This represents a 21.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.66% of the stock is currently owned by insiders.

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.