ASR Vermogensbeheer N.V. Makes New Investment in Hubbell Inc (NYSE:HUBB)

Key Points

• ASR Vermogensbeheer N.V. has invested approximately $959,000 in Hubbell Inc by acquiring 2,899 shares, signaling confidence in the industrial products company.
• Insider trading activity includes CEO Gerben Bakker selling 7,723 shares for nearly $2.97 million, representing an 8.60% decrease in his ownership.
• Hubbell announced a quarterly dividend of $1.32 per share, with a dividend yield of 1.3% and a payout ratio of 34.29%, highlighting its stable financial position.

ASR Vermogensbeheer N.V. purchased a new stake in shares of Hubbell Inc (NYSE:HUBB - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,899 shares of the industrial products company's stock, valued at approximately $959,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tsfg LLC purchased a new position in Hubbell in the first quarter worth about $30,000. Johnson Financial Group Inc. boosted its position in Hubbell by 166.7% in the fourth quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock worth $44,000 after purchasing an additional 65 shares during the last quarter. NBC Securities Inc. purchased a new position in Hubbell in the first quarter worth about $49,000. CX Institutional purchased a new position in Hubbell in the first quarter worth about $49,000. Finally, Intact Investment Management Inc. purchased a new position in Hubbell in the first quarter worth about $66,000. 88.16% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Wall Street Zen raised Hubbell from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. raised their target price on Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a research report on Friday, May 16th. Wells Fargo & Company raised their target price on Hubbell from $420.00 to $445.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 30th. Finally, Barclays lifted their price objective on Hubbell from $420.00 to $431.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $462.29.

Hubbell Stock Up 3.5%

Shares of HUBB stock traded up $14.64 during mid-day trading on Tuesday, hitting $432.18. The stock had a trading volume of 414,539 shares, compared to its average volume of 597,385. Hubbell Inc has a 12-month low of $299.42 and a 12-month high of $481.35. The firm has a market capitalization of $22.97 billion, a P/E ratio of 28.06, a price-to-earnings-growth ratio of 2.34 and a beta of 0.99. The firm's 50-day moving average is $413.43 and its two-hundred day moving average is $382.11. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.30 and a quick ratio of 0.76.

Hubbell (NYSE:HUBB - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $4.93 EPS for the quarter, topping the consensus estimate of $4.36 by $0.57. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.51 billion. Hubbell had a return on equity of 27.63% and a net margin of 14.76%. On average, analysts predict that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, August 29th. Hubbell's dividend payout ratio is currently 34.29%.

Insider Activity

In related news, CEO Gerben Bakker sold 7,723 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer directly owned 82,101 shares of the company's stock, valued at $31,578,507.63. This represents a 8.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Carlos M. Cardoso sold 400 shares of the 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 directly owned 1,727 shares in the company, valued at $667,122.83. This represents a 18.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.76% of the company's stock.

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.