Temasek Holdings Private Ltd Purchases 16,935 Shares of Hubbell Incorporated (NYSE:HUBB)

Temasek Holdings Private Ltd increased its position in Hubbell Incorporated (NYSE:HUBB - Free Report) by 221.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 24,596 shares of the industrial products company's stock after acquiring an additional 16,935 shares during the quarter. Temasek Holdings Private Ltd's holdings in Hubbell were worth $10,303,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Tidal Investments LLC boosted its position in Hubbell by 16.6% during the fourth quarter. Tidal Investments LLC now owns 2,750 shares of the industrial products company's stock worth $1,152,000 after purchasing an additional 392 shares during the period. Teza Capital Management LLC purchased a new stake in shares of Hubbell during the 4th quarter valued at approximately $365,000. Tema Etfs LLC bought a new position in Hubbell in the 4th quarter worth approximately $633,000. Toronto Dominion Bank boosted its holdings in Hubbell by 59.1% in the 4th quarter. Toronto Dominion Bank now owns 28,719 shares of the industrial products company's stock worth $12,030,000 after buying an additional 10,667 shares during the period. Finally, Siemens Fonds Invest GmbH grew its stake in Hubbell by 2,390.4% in the 4th quarter. Siemens Fonds Invest GmbH now owns 14,021 shares of the industrial products company's stock valued at $5,873,000 after buying an additional 13,458 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company's stock.

Insiders Place Their Bets

In other news, CEO Gerben Bakker sold 7,723 shares of the firm's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $384.63, for a total transaction of $2,970,497.49. Following the sale, the chief executive officer now owns 82,101 shares in the company, valued at approximately $31,578,507.63. This trade represents a 8.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.66% of the company's stock.

Hubbell Price Performance

NYSE:HUBB traded up $1.51 during trading hours on Friday, hitting $390.90. 355,465 shares of the company's stock traded hands, compared to its average volume of 534,885. Hubbell Incorporated has a 52 week low of $299.43 and a 52 week high of $481.35. The business's fifty day simple moving average is $351.04 and its two-hundred day simple moving average is $396.17. The company has a quick ratio of 0.98, a current ratio of 1.64 and a debt-to-equity ratio of 0.44. The firm has a market cap of $20.86 billion, a P/E ratio of 27.22, a P/E/G ratio of 1.34 and a beta of 0.97.

Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $3.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter last year, the business posted $3.60 EPS. The business's revenue was down 2.4% compared to the same quarter last year. On average, research 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 share buyback plan on Wednesday, February 12th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the industrial products company to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Hubbell Announces Dividend

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

Analysts Set New Price Targets

Several research firms have issued reports on HUBB. Barclays dropped their target price on Hubbell from $422.00 to $400.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 26th. Wall Street Zen cut Hubbell from a "buy" rating to a "hold" rating in a report on Friday, April 11th. Finally, JPMorgan Chase & Co. lifted their target price on Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $457.50.

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.