OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 13,700 Shares of Hubbell Incorporated (NYSE:HUBB)

OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 56.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,100 shares of the industrial products company's stock after purchasing an additional 13,700 shares during the quarter. Hubbell accounts for 1.3% of OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC's portfolio, making the stock its 19th biggest holding. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.07% of Hubbell worth $15,960,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Norges Bank purchased a new stake in Hubbell during the fourth quarter valued at $195,218,000. Marshall Wace LLP increased its position in Hubbell by 418.1% during the fourth quarter. Marshall Wace LLP now owns 307,050 shares of the industrial products company's stock valued at $128,620,000 after acquiring an additional 247,786 shares during the last quarter. Bain Capital Public Equity Management II LLC purchased a new stake in Hubbell during the fourth quarter valued at $95,868,000. Raymond James Financial Inc. purchased a new stake in Hubbell during the fourth quarter valued at $63,647,000. Finally, Ameriprise Financial Inc. increased its position in Hubbell by 80.1% in the fourth quarter. Ameriprise Financial Inc. now owns 336,308 shares of the industrial products company's stock worth $140,876,000 after buying an additional 149,622 shares in the last quarter. 88.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. JPMorgan Chase & Co. upped their price target on Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a research report on Friday. StockNews.com cut Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, April 11th. Finally, Barclays reduced their price target on Hubbell from $422.00 to $400.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 26th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $457.50.

Insider Buying and Selling at Hubbell

In other news, insider Alyssa R. Flynn sold 1,164 shares of the firm's stock in a transaction that occurred 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 sale, the insider now directly owns 4,327 shares of the company's stock, valued at $1,683,462.62. This trade represents a 21.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Gerben Bakker sold 7,723 shares of the firm's 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 completion of the sale, the chief executive officer now directly owns 82,101 shares of the company's stock, valued at $31,578,507.63. The trade was a 8.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by company insiders.

Hubbell Price Performance

Shares of NYSE:HUBB traded up $5.52 during trading on Friday, hitting $392.16. 659,423 shares of the company's stock were exchanged, compared to its average volume of 531,690. 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 52-week low of $299.43 and a 52-week high of $481.35. The business's 50-day simple moving average is $347.05 and its 200 day simple moving average is $397.01. The company has a market cap of $20.93 billion, a price-to-earnings ratio of 27.31, a PEG ratio of 1.34 and a beta of 0.97.

Hubbell (NYSE:HUBB - Get Free Report) last released 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 return on equity of 28.62% and a net margin of 13.82%. The business had revenue of $1.37 billion for the quarter, compared to analysts' expectations of $1.39 billion. During the same quarter in the prior year, the business posted $3.60 EPS. The business's revenue for the quarter was down 2.4% compared to the same quarter last year. As a group, equities analysts predict that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Announces Dividend

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

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

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.