Hubbell Incorporated (NYSE:HUBB) Holdings Lowered by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 16.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 5,702 shares of the industrial products company’s stock after selling 1,100 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Hubbell were worth $2,389,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. MONECO Advisors LLC bought a new stake in shares of Hubbell in the 4th quarter worth approximately $281,000. TCW Group Inc. bought a new stake in shares of Hubbell in the 4th quarter worth approximately $6,962,000. Wealth Management Nebraska bought a new stake in shares of Hubbell in the 4th quarter worth approximately $252,000. Suncoast Equity Management raised its holdings in shares of Hubbell by 8.7% in the 4th quarter. Suncoast Equity Management now owns 2,676 shares of the industrial products company’s stock worth $1,121,000 after purchasing an additional 215 shares in the last quarter. Finally, ING Groep NV raised its holdings in shares of Hubbell by 32.4% in the 4th quarter. ING Groep NV now owns 6,855 shares of the industrial products company’s stock worth $2,871,000 after purchasing an additional 1,676 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors.

Hubbell Stock Performance

Shares of HUBB opened at $377.81 on Thursday. The company’s 50 day moving average price is $416.93 and its 200 day moving average price is $424.37. Hubbell Incorporated has a 52 week low of $346.13 and a 52 week high of $481.35. The company has a market capitalization of $20.28 billion, a PE ratio of 26.31, 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) last announced its quarterly earnings data 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 net margin of 13.82% and a return on equity of 28.62%. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the previous year, the firm posted $3.69 earnings per share. The firm’s revenue was down .9% on a year-over-year basis. Research analysts expect that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors 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 1.40%. The ex-dividend date is Friday, February 28th. Hubbell’s payout ratio is presently 36.77%.

Hubbell announced that its board has approved a stock buyback program on Wednesday, February 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the industrial products company to purchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on HUBB shares. Barclays boosted their target price on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a report 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 report on Tuesday, January 7th. Morgan Stanley lifted their target price on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Sanford C. Bernstein started coverage on shares of Hubbell in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price on the stock. 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, Hubbell presently has an average rating of “Hold” and an average price target of $471.50.

Insider Activity at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the business’s 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 completion of the sale, the insider now directly owns 4,327 shares of the company’s stock, valued at $1,683,462.62. The trade was a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.66% of the stock is currently 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.