AEGON ASSET MANAGEMENT UK Plc Sells 5,639 Shares of Hubbell Incorporated (NYSE:HUBB)

AEGON ASSET MANAGEMENT UK Plc lessened its position in shares of Hubbell Incorporated (NYSE:HUBB) by 18.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 24,213 shares of the industrial products company’s stock after selling 5,639 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc’s holdings in Hubbell were worth $10,142,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Mizuho Securities USA LLC lifted its stake in shares of 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 worth $3,418,233,000 after purchasing an additional 7,975,855 shares during the period. International Assets Investment Management LLC increased its holdings in Hubbell by 42,735.0% during the third quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock valued at $8,223,740,000 after buying an additional 1,915,383 shares during the last quarter. Impax Asset Management Group plc raised its position 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 worth $514,377,000 after acquiring an additional 279,654 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Hubbell by 268.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 231,130 shares of the industrial products company’s stock worth $99,005,000 after acquiring an additional 168,380 shares during the last quarter. Finally, LGT Capital Partners LTD. bought a new stake in shares of Hubbell during the 3rd quarter valued at $39,687,000. Institutional investors own 88.16% of the company’s stock.

Insider Transactions at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the transaction, the insider now directly owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. This trade represents a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.66% of the company’s stock.

Hubbell Trading Up 0.4 %

HUBB stock opened at $455.56 on Friday. The company has a market capitalization of $24.45 billion, a price-to-earnings ratio of 32.82, a PEG ratio of 1.57 and a beta of 0.93. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. Hubbell Incorporated has a 1-year low of $326.13 and a 1-year high of $481.35. The business has a 50 day simple moving average of $442.63 and a two-hundred day simple moving average of $419.77.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.02. The company had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. Hubbell’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the company posted $3.95 earnings per share. Research analysts anticipate that Hubbell Incorporated will post 16.48 EPS for the current fiscal year.

Analysts Set New Price Targets

HUBB has been the topic of a number of recent research reports. StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a report on Thursday, January 16th. Mizuho upped their price target on Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Morgan Stanley lifted their price objective on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Barclays increased 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. Finally, Wells Fargo & Company lowered their price target on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $471.50.

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.