Hubbell Incorporated (NYSE:HUBB) Shares Purchased by Toronto Dominion Bank

Toronto Dominion Bank increased its holdings in Hubbell Incorporated (NYSE:HUBB - Free Report) by 59.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,719 shares of the industrial products company's stock after purchasing an additional 10,667 shares during the period. Toronto Dominion Bank owned 0.05% of Hubbell worth $12,030,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. increased its position in Hubbell by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 6,634,705 shares of the industrial products company's stock worth $2,779,212,000 after purchasing an additional 65,033 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Hubbell by 4.8% during the 4th quarter. Bank of New York Mellon Corp now owns 2,826,327 shares of the industrial products company's stock valued at $1,183,920,000 after buying an additional 129,490 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Hubbell by 6.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,510,430 shares of the industrial products company's stock worth $632,704,000 after buying an additional 92,954 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Hubbell by 1.9% during the 4th quarter. Invesco Ltd. now owns 1,490,479 shares of the industrial products company's stock worth $624,347,000 after buying an additional 27,914 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Hubbell by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 1,284,506 shares of the industrial products company's stock worth $536,641,000 after buying an additional 29,601 shares during the period. Hedge funds and other institutional investors own 88.16% of the company's stock.

Hubbell Stock Up 0.5%

Shares of HUBB traded up $1.91 during midday trading on Monday, reaching $391.30. 737,739 shares of the company were exchanged, compared to its average volume of 537,876. Hubbell Incorporated has a 1-year low of $299.43 and a 1-year high of $481.35. The stock has a 50-day moving average price of $352.15 and a 200-day moving average price of $394.80. The company has a current ratio of 1.64, a quick ratio of 0.98 and a debt-to-equity ratio of 0.44. The company has a market cap of $20.89 billion, a price-to-earnings ratio of 27.25, a P/E/G ratio of 1.34 and a beta of 0.97.

Hubbell (NYSE:HUBB - Get Free Report) last announced its 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). The company had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.39 billion. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The business's quarterly revenue was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.60 earnings per share. Research analysts expect that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell Announces Dividend

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

Hubbell announced that its board has authorized a share repurchase program on Wednesday, February 12th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the industrial products company to buy up to 2.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on HUBB shares. JPMorgan Chase & Co. boosted their price target on Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Barclays decreased their target price on Hubbell from $422.00 to $400.00 and set an "equal weight" rating for the company in a report on Wednesday, March 26th. Finally, Wall Street Zen downgraded shares of Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. 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 has an average rating of "Hold" and a consensus target price of $457.50.

Insider Activity

In other news, CEO Gerben Bakker sold 7,723 shares of Hubbell 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 sale, the chief executive officer now directly owns 82,101 shares of the company's stock, valued at approximately $31,578,507.63. The trade was a 8.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carlos M. Cardoso sold 400 shares of the business's stock in a transaction dated Wednesday, May 21st. The stock was 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 approximately $667,122.83. This trade represents a 18.81% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.66% 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.