AEGON ASSET MANAGEMENT UK Plc Sells 20,683 Shares of Hubbell Incorporated (NYSE:HUBB)

AEGON ASSET MANAGEMENT UK Plc trimmed its position in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 85.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,530 shares of the industrial products company's stock after selling 20,683 shares during the period. AEGON ASSET MANAGEMENT UK Plc's holdings in Hubbell were worth $1,167,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its position in Hubbell by 25.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 190 shares of the industrial products company's stock worth $80,000 after acquiring an additional 38 shares during the period. Portfolio Design Labs LLC acquired a new stake in Hubbell in the fourth quarter worth about $306,000. Atria Wealth Solutions Inc. lifted its holdings in Hubbell by 4.7% in the fourth quarter. Atria Wealth Solutions Inc. now owns 1,838 shares of the industrial products company's stock worth $770,000 after purchasing an additional 82 shares during the period. Janus Henderson Group PLC lifted its holdings in Hubbell by 1.8% in the fourth quarter. Janus Henderson Group PLC now owns 7,130 shares of the industrial products company's stock worth $2,988,000 after purchasing an additional 123 shares during the period. Finally, Savant Capital LLC lifted its stake in shares of Hubbell by 5.6% in the 4th quarter. Savant Capital LLC now owns 1,329 shares of the industrial products company's stock worth $557,000 after acquiring an additional 71 shares during the period. 88.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

HUBB has been the subject of a number of research analyst reports. Barclays reduced their price target on shares of Hubbell from $422.00 to $400.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 26th. JPMorgan Chase & Co. raised their target price on Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. Finally, Wall Street Zen lowered shares of Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $457.50.

Insider Activity at Hubbell

In related news, CEO Gerben Bakker sold 7,723 shares of Hubbell stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $384.63, for a total transaction of $2,970,497.49. Following the completion of the sale, the chief executive officer now owns 82,101 shares of the company's stock, valued at approximately $31,578,507.63. This trade represents a 8.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carlos M. Cardoso sold 400 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $386.29, for a total value of $154,516.00. Following the completion of the transaction, the director now owns 1,727 shares in the company, valued at $667,122.83. This trade represents a 18.81% decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

Hubbell Trading Up 1.8%

Shares of NYSE:HUBB traded up $6.92 during midday trading on Friday, reaching $395.53. The company had a trading volume of 391,942 shares, compared to its average volume of 538,485. Hubbell Incorporated has a 1-year low of $299.43 and a 1-year high of $481.35. The company has a fifty day simple moving average of $362.37 and a two-hundred day simple moving average of $391.08. The firm has a market cap of $21.11 billion, a price-to-earnings ratio of 27.54, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99. 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 - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $3.50 EPS for the quarter, missing the consensus estimate of $3.73 by ($0.23). Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The firm had revenue of $1.37 billion during the quarter, compared to analysts' expectations of $1.39 billion. During the same quarter last year, the company posted $3.60 EPS. The firm's revenue was down 2.4% compared to the same quarter last year. Research analysts predict that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, May 30th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.33%. Hubbell's dividend payout ratio is 35.72%.

Hubbell announced that its Board of Directors has initiated a stock buyback plan on Wednesday, February 12th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the industrial products company to repurchase up to 2.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board of directors believes its shares are undervalued.

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.