Hubbell Incorporated (NYSE:HUBB) Stock Holdings Raised by Toronto Dominion Bank

Toronto Dominion Bank grew its holdings in Hubbell Incorporated (NYSE:HUBB - Free Report) by 59.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,719 shares of the industrial products company's stock after purchasing an additional 10,667 shares during the quarter. Toronto Dominion Bank owned approximately 0.05% of Hubbell worth $12,030,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted 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 acquiring an additional 65,033 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Hubbell by 4.8% in 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 purchasing an additional 129,490 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Hubbell by 6.6% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,510,430 shares of the industrial products company's stock valued at $632,704,000 after purchasing an additional 92,954 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Hubbell by 1.9% in the 4th quarter. Invesco Ltd. now owns 1,490,479 shares of the industrial products company's stock valued at $624,347,000 after purchasing an additional 27,914 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings 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 valued at $536,641,000 after purchasing an additional 29,601 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company's stock.

Analyst Upgrades and Downgrades

HUBB has been the topic of a number of research analyst reports. Barclays decreased their price target 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. JPMorgan Chase & Co. lifted their target price on shares of Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a report on Friday, May 16th. Finally, Wall Street Zen lowered shares of Hubbell from a "buy" rating to a "hold" rating in a report on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $457.50.

Insiders Place Their Bets

In other news, CEO Gerben Bakker sold 7,723 shares of the business's stock in a transaction dated 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 completion of the sale, the chief executive officer now 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 position. 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 dated Wednesday, May 21st. The stock was sold at an average price of $386.29, for a total transaction of $154,516.00. Following the completion of the sale, the director now directly owns 1,727 shares of the company's stock, valued at $667,122.83. The trade was a 18.81% decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Hubbell Stock Down 2.1%

Shares of NYSE:HUBB traded down $8.29 during midday trading on Monday, hitting $381.29. 620,959 shares of the company's stock traded hands, compared to its average volume of 542,016. Hubbell Incorporated has a twelve month low of $299.43 and a twelve month high of $481.35. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. The company has a market cap of $20.35 billion, a PE ratio of 26.55, a P/E/G ratio of 1.34 and a beta of 0.97. The firm's fifty day moving average price is $357.81 and its two-hundred day moving average price is $392.26.

Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The industrial products company reported $3.50 EPS for the quarter, missing analysts' consensus estimates of $3.73 by ($0.23). Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.39 billion. During the same quarter in the prior year, the firm earned $3.60 EPS. The business's quarterly revenue was down 2.4% compared to the same quarter last year. On average, equities research analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 30th will be issued a $1.32 dividend. The ex-dividend date of this dividend is Friday, May 30th. This represents a $5.28 dividend on an annualized basis and a yield of 1.38%. Hubbell's dividend payout ratio is currently 35.72%.

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

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.