Nordea Investment Management AB Buys 6,275 Shares of Hubbell Incorporated (NYSE:HUBB)

Nordea Investment Management AB increased its holdings in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 4.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 160,085 shares of the industrial products company's stock after purchasing an additional 6,275 shares during the period. Nordea Investment Management AB owned approximately 0.30% of Hubbell worth $66,571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC grew its position in Hubbell by 32,734.4% during the fourth quarter. International Assets Investment Management LLC now owns 1,472,949 shares of the industrial products company's stock valued at $484,497,000 after buying an additional 1,468,463 shares during the period. Vanguard Group Inc. grew its position in shares of Hubbell by 15.9% in the fourth quarter. Vanguard Group Inc. now owns 6,696,582 shares of the industrial products company's stock valued at $2,202,707,000 after purchasing an additional 918,808 shares during the period. Norges Bank acquired a new stake in shares of Hubbell in the fourth quarter valued at about $143,024,000. Massachusetts Financial Services Co. MA grew its position in shares of Hubbell by 24.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,268,560 shares of the industrial products company's stock valued at $417,267,000 after purchasing an additional 248,493 shares during the period. Finally, Westwood Holdings Group Inc. grew its position in shares of Hubbell by 575.7% in the fourth quarter. Westwood Holdings Group Inc. now owns 288,186 shares of the industrial products company's stock valued at $94,793,000 after purchasing an additional 245,536 shares during the period. Hedge funds and other institutional investors own 88.16% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on HUBB shares. Mizuho raised their price target on shares of Hubbell from $370.00 to $450.00 and gave the stock a "buy" rating in a research note on Wednesday, March 20th. Barclays decreased their price target on shares of Hubbell from $400.00 to $384.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 2nd. Wells Fargo & Company reduced their target price on shares of Hubbell from $435.00 to $397.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 1st. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Hubbell in a research note on Monday, March 11th. They set a "hold" rating and a $427.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $386.57.

Insiders Place Their Bets

In related news, Director Neal J. Keating purchased 500 shares of the stock in a transaction dated Friday, May 3rd. The shares were acquired at an average cost of $378.77 per share, with a total value of $189,385.00. Following the purchase, the director now directly owns 8,571 shares in the company, valued at approximately $3,246,437.67. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Alyssa R. Flynn sold 1,106 shares of the stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $406.79, for a total value of $449,909.74. Following the sale, the insider now directly owns 4,234 shares of the company's stock, valued at approximately $1,722,348.86. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Neal J. Keating acquired 500 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was acquired at an average cost of $378.77 per share, for a total transaction of $189,385.00. Following the completion of the purchase, the director now owns 8,571 shares in the company, valued at approximately $3,246,437.67. The disclosure for this purchase can be found here. In the last quarter, insiders sold 3,055 shares of company stock worth $1,232,139. 0.78% of the stock is owned by insiders.

Hubbell Stock Performance

HUBB stock traded down $5.86 on Tuesday, hitting $371.15. The company's stock had a trading volume of 356,136 shares, compared to its average volume of 454,300. The firm has a 50 day moving average of $384.54 and a two-hundred day moving average of $374.99. Hubbell Incorporated has a 1 year low of $248.37 and a 1 year high of $429.61. The stock has a market cap of $19.93 billion, a price-to-earnings ratio of 27.68, a price-to-earnings-growth ratio of 1.38 and a beta of 0.90. The company has a current ratio of 1.66, a quick ratio of 1.03 and a debt-to-equity ratio of 0.64.

Hubbell (NYSE:HUBB - Get Free Report) last announced its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $3.60 EPS for the quarter, topping analysts' consensus estimates of $3.54 by $0.06. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. Hubbell had a net margin of 13.23% and a return on equity of 29.55%. Hubbell's quarterly revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.61 EPS. Equities analysts predict that Hubbell Incorporated will post 16.33 EPS for the current fiscal year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Friday, May 31st were given a dividend of $1.22 per share. The ex-dividend date of this dividend was Friday, May 31st. This represents a $4.88 dividend on an annualized basis and a yield of 1.31%. Hubbell's payout ratio is currently 36.39%.

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.