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

Temasek Holdings Private Ltd raised its stake in Hubbell Incorporated (NYSE:HUBB - Free Report) by 221.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,596 shares of the industrial products company's stock after acquiring an additional 16,935 shares during the period. Temasek Holdings Private Ltd's holdings in Hubbell were worth $10,303,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in HUBB. MassMutual Private Wealth & Trust FSB increased its position in Hubbell by 12.3% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 228 shares of the industrial products company's stock valued at $96,000 after acquiring an additional 25 shares during the period. Huntington National Bank boosted its holdings in shares of Hubbell by 3.0% in the fourth quarter. Huntington National Bank now owns 886 shares of the industrial products company's stock valued at $371,000 after acquiring an additional 26 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its position in Hubbell by 0.4% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 6,515 shares of the industrial products company's stock worth $2,757,000 after purchasing an additional 26 shares during the period. Sanctuary Advisors LLC boosted its stake in shares of Hubbell by 0.5% in the fourth quarter. Sanctuary Advisors LLC now owns 5,422 shares of the industrial products company's stock valued at $2,313,000 after buying an additional 27 shares in the last quarter. Finally, Mindset Wealth Management LLC lifted its holdings in Hubbell by 1.7% in the fourth quarter. Mindset Wealth Management LLC now owns 1,655 shares of the industrial products company's stock valued at $693,000 after acquiring an additional 27 shares during the period. 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 the company's stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 82,101 shares of the company's stock, valued at approximately $31,578,507.63. This represents a 8.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Alyssa R. Flynn sold 1,164 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $389.06, for a total value of $452,865.84. Following the completion of the transaction, the insider now directly owns 4,327 shares of the company's stock, valued at approximately $1,683,462.62. This trade represents a 21.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on HUBB shares. StockNews.com lowered Hubbell from a "buy" rating to a "hold" rating in a research note on Friday, April 11th. Barclays reduced their price target on Hubbell from $422.00 to $400.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 26th. Finally, JPMorgan Chase & Co. upped their target price on Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a research note on Friday. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Hubbell has a consensus rating of "Hold" and a consensus target price of $457.50.

Hubbell Stock Performance

Shares of Hubbell stock traded down $1.30 during trading on Tuesday, hitting $389.47. 434,420 shares of the stock were exchanged, compared to its average volume of 531,868. The stock's fifty day moving average is $349.32 and its 200 day moving average is $396.51. The stock has a market cap of $20.79 billion, a PE ratio of 27.12, a P/E/G ratio of 1.34 and a beta of 0.97. 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 Incorporated has a 12 month low of $299.43 and a 12 month high of $481.35.

Hubbell (NYSE:HUBB - Get Free Report) last announced its quarterly earnings data 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). The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.39 billion. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The business's revenue for the quarter was down 2.4% on a year-over-year basis. During the same period in the prior year, the firm earned $3.60 EPS. As a group, sell-side analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell declared that its Board of Directors has approved a share repurchase program on Wednesday, February 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the industrial products company to buy up to 2.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Hubbell Announces Dividend

The firm 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. This represents a $5.28 annualized dividend and a yield of 1.36%. The ex-dividend date is Friday, May 30th. Hubbell's payout ratio is 35.72%.

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.