Hubbell Incorporated (NYSE:HUBB) Shares Sold by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt reduced its position in shares of Hubbell Incorporated (NYSE:HUBB) by 12.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,378 shares of the industrial products company’s stock after selling 200 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Hubbell were worth $577,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Janney Montgomery Scott LLC boosted its holdings in shares of Hubbell by 122.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 28,723 shares of the industrial products company’s stock valued at $12,032,000 after buying an additional 15,806 shares in the last quarter. Salem Investment Counselors Inc. boosted its stake in Hubbell by 26.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 9,144 shares of the industrial products company’s stock valued at $3,830,000 after acquiring an additional 1,886 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Hubbell by 7.1% during the third quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company’s stock worth $98,187,000 after purchasing an additional 15,215 shares during the last quarter. LGT Capital Partners LTD. acquired a new stake in shares of Hubbell during the third quarter worth about $39,687,000. Finally, Impax Asset Management Group plc lifted its holdings in shares of Hubbell by 30.3% in the 3rd 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 purchasing an additional 279,654 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on HUBB shares. Wells Fargo & Company dropped their price target 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. Barclays raised their target price on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research report on Thursday, December 5th. Morgan Stanley upped their price target on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Sanford C. Bernstein initiated coverage on shares of Hubbell in a research note on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price target for the company. Finally, Mizuho lifted their price objective on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Hubbell has a consensus rating of “Hold” and an average target price of $471.50.

Hubbell Stock Performance

Shares of HUBB opened at $401.04 on Friday. The stock has a market capitalization of $21.52 billion, a P/E ratio of 28.89, a P/E/G ratio of 1.45 and a beta of 0.92. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. Hubbell Incorporated has a 1 year low of $346.13 and a 1 year high of $481.35. The company’s fifty day moving average is $434.52 and its two-hundred day moving average is $422.00.

Hubbell (NYSE:HUBB) last issued its quarterly 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. The business had revenue of $1.33 billion for the quarter, compared to analyst estimates of $1.41 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The business’s revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the business posted $3.69 earnings per share. On average, sell-side analysts predict that Hubbell Incorporated will post 16.48 earnings per share for the current year.

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a $1.32 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a $5.28 annualized dividend and a dividend yield of 1.32%. Hubbell’s dividend payout ratio is currently 38.04%.

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.