Siemens Fonds Invest GmbH Acquires 13,458 Shares of Hubbell Incorporated (NYSE:HUBB)

Siemens Fonds Invest GmbH grew its holdings in Hubbell Incorporated (NYSE:HUBB - Free Report) by 2,390.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 14,021 shares of the industrial products company's stock after buying an additional 13,458 shares during the quarter. Siemens Fonds Invest GmbH's holdings in Hubbell were worth $5,873,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Janney Montgomery Scott LLC increased its position in shares of Hubbell by 122.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 28,723 shares of the industrial products company's stock worth $12,032,000 after purchasing an additional 15,806 shares in the last quarter. Smith Group Asset Management LLC increased its position in shares of Hubbell by 1.6% during the 4th quarter. Smith Group Asset Management LLC now owns 67,042 shares of the industrial products company's stock worth $28,083,000 after purchasing an additional 1,049 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of 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 purchasing an additional 38 shares in the last quarter. Portfolio Design Labs LLC acquired a new stake in shares of Hubbell during the 4th quarter worth about $306,000. Finally, Nisa Investment Advisors LLC grew its holdings in Hubbell by 2.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,752 shares of the industrial products company's stock worth $2,409,000 after acquiring an additional 151 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company's stock.

Insider Buying and Selling

In other news, CEO Gerben Bakker sold 7,723 shares of Hubbell stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $384.63, for a total value of $2,970,497.49. Following the sale, the chief executive officer now directly owns 82,101 shares in the company, valued at $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 available at the SEC website. Also, Director Carlos M. Cardoso sold 400 shares of the business's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $386.29, for a total transaction of $154,516.00. Following the transaction, the director now owns 1,727 shares in the company, valued at approximately $667,122.83. The trade was a 18.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.76% of the stock is owned by insiders.

Analyst Ratings Changes

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

Hubbell Trading Down 1.7%

Shares of NYSE HUBB traded down $6.81 during mid-day trading on Friday, hitting $390.13. The company's stock had a trading volume of 1,127,934 shares, compared to its average volume of 542,404. The stock has a market cap of $20.82 billion, a price-to-earnings ratio of 27.17, a price-to-earnings-growth ratio of 1.34 and a beta of 0.97. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. Hubbell Incorporated has a one year low of $299.43 and a one year high of $481.35. The company's fifty day simple moving average is $357.11 and its 200-day simple moving average is $393.40.

Hubbell (NYSE:HUBB - Get Free Report) last issued its earnings results on Thursday, May 1st. The industrial products company reported $3.50 earnings per share (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 business had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period last year, the business posted $3.60 EPS. The firm's revenue for the quarter was down 2.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell declared that its board has approved a stock buyback plan on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's board of directors believes its shares are undervalued.

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 30th will be paid a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.35%. The ex-dividend date is Friday, May 30th. Hubbell's payout ratio is 35.72%.

About Hubbell

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.