APG Asset Management N.V. Boosts Position in Hubbell Incorporated (NYSE:HUBB)

APG Asset Management N.V. boosted its position in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 260.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,400 shares of the industrial products company's stock after buying an additional 3,900 shares during the quarter. APG Asset Management N.V.'s holdings in Hubbell were worth $1,841,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Hubbell in the second quarter valued at $294,000. Squarepoint Ops LLC raised its stake in shares of Hubbell by 1,054.3% in the second quarter. Squarepoint Ops LLC now owns 16,784 shares of the industrial products company's stock valued at $6,134,000 after acquiring an additional 15,330 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of Hubbell by 60.4% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 10,271 shares of the industrial products company's stock valued at $3,754,000 after acquiring an additional 3,869 shares during the period. Marshall Wace LLP purchased a new stake in shares of Hubbell in the second quarter valued at $9,288,000. Finally, Bank of Montreal Can raised its stake in shares of Hubbell by 0.7% in the second quarter. Bank of Montreal Can now owns 229,743 shares of the industrial products company's stock valued at $87,344,000 after acquiring an additional 1,593 shares during the period. Institutional investors own 88.16% of the company's stock.

Analyst Ratings Changes

HUBB has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of Hubbell from $383.00 to $385.00 and gave the company an "overweight" rating in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a "hold" rating to a "buy" rating and upped their price target for the stock from $431.00 to $441.00 in a report on Friday, September 6th. Wells Fargo & Company upped their price target on shares of Hubbell from $397.00 to $400.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 31st. Morgan Stanley assumed coverage on shares of Hubbell in a report on Friday, September 6th. They issued an "equal weight" rating and a $407.00 price target on the stock. Finally, Barclays cut their price target on shares of Hubbell from $384.00 to $368.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Hubbell has a consensus rating of "Moderate Buy" and a consensus price target of $404.88.

Hubbell Stock Down 0.2 %

Hubbell stock traded down $1.06 during midday trading on Tuesday, hitting $427.29. 281,738 shares of the company's stock were exchanged, compared to its average volume of 451,357. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.81. Hubbell Incorporated has a 12 month low of $248.37 and a 12 month high of $433.03. The firm has a 50-day moving average of $387.98 and a two-hundred day moving average of $390.04. The company has a market cap of $22.94 billion, a PE ratio of 31.94, a P/E/G ratio of 1.56 and a beta of 0.90.

Hubbell (NYSE:HUBB - Get Free Report) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.13. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The company had revenue of $1.45 billion for the quarter, compared to analysts' expectations of $1.48 billion. During the same period in the prior year, the business earned $4.07 EPS. The firm's quarterly revenue was up 6.3% on a year-over-year basis. As a group, analysts expect that Hubbell Incorporated will post 16.45 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.14%. The ex-dividend date was Friday, August 30th. Hubbell's payout ratio is 36.39%.

Insider Activity

In other news, CEO Gerben Bakker sold 15,677 shares of the firm's stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $374.34, for a total value of $5,868,528.18. Following the sale, the chief executive officer now directly owns 66,415 shares in the company, valued at approximately $24,861,791.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Gerben Bakker sold 15,677 shares of the firm's stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $374.34, for a total value of $5,868,528.18. Following the sale, the chief executive officer now directly owns 66,415 shares in the company, valued at approximately $24,861,791.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carlos M. Cardoso sold 450 shares of the firm's stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the completion of the sale, the director now owns 1,670 shares in the company, valued at $608,781.80. The disclosure for this sale can be found here. Company insiders own 0.66% of the company's stock.

About Hubbell

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.