Ceredex Value Advisors LLC Makes New $18.69 Million Investment in Hubbell Incorporated (NYSE:HUBB)

Ceredex Value Advisors LLC acquired a new position in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 56,825 shares of the industrial products company's stock, valued at approximately $18,691,000. Ceredex Value Advisors LLC owned about 0.11% of Hubbell as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nordea Investment Management AB raised its holdings in Hubbell by 119.0% during the fourth quarter. Nordea Investment Management AB now owns 153,810 shares of the industrial products company's stock worth $50,388,000 after purchasing an additional 83,581 shares during the last quarter. PFG Advisors acquired a new position in shares of Hubbell in the fourth quarter worth $1,108,000. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Hubbell by 117.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 20,456 shares of the industrial products company's stock worth $6,729,000 after acquiring an additional 11,046 shares during the last quarter. Financiere des Professionnels Fonds d investissement inc. raised its holdings in shares of Hubbell by 23.9% in the fourth quarter. Financiere des Professionnels Fonds d investissement inc. now owns 17,096 shares of the industrial products company's stock worth $5,623,000 after acquiring an additional 3,293 shares during the last quarter. Finally, Boston Trust Walden Corp raised its holdings in shares of Hubbell by 3.1% in the fourth quarter. Boston Trust Walden Corp now owns 356,216 shares of the industrial products company's stock worth $117,170,000 after acquiring an additional 10,787 shares during the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

Hubbell Trading Down 0.3 %

Shares of NYSE:HUBB traded down $1.19 during midday trading on Monday, reaching $415.89. The company's stock had a trading volume of 367,314 shares, compared to its average volume of 412,196. The business has a 50 day moving average price of $383.00 and a 200 day moving average price of $334.23. Hubbell Incorporated has a 1 year low of $219.77 and a 1 year high of $429.61. The company has a quick ratio of 1.01, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. The firm has a market cap of $22.30 billion, a price-to-earnings ratio of 29.60, a price-to-earnings-growth ratio of 2.54 and a beta of 0.94.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.58 by $0.11. Hubbell had a return on equity of 30.82% and a net margin of 14.14%. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the business earned $2.60 earnings per share. The firm's quarterly revenue was up 10.3% compared to the same quarter last year. Research analysts forecast that Hubbell Incorporated will post 16.43 EPS for the current year.

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend was Wednesday, February 28th. Hubbell's dividend payout ratio (DPR) is presently 34.73%.

Insider Buying and Selling at Hubbell

In other news, CFO William R. Sperry sold 14,925 shares of the company's stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $352.99, for a total value of $5,268,375.75. Following the completion of the sale, the chief financial officer now owns 37,848 shares of the company's stock, valued at $13,359,965.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Mark Eugene Mikes sold 397 shares of the company's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $363.45, for a total value of $144,289.65. Following the completion of the sale, the insider now owns 4,899 shares of the company's stock, valued at $1,780,541.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO William R. Sperry sold 14,925 shares of the company's stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $352.99, for a total value of $5,268,375.75. Following the completion of the sale, the chief financial officer now directly owns 37,848 shares of the company's stock, valued at approximately $13,359,965.52. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,125 shares of company stock valued at $12,065,100. Company insiders own 0.78% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Barclays boosted their price target on Hubbell from $340.00 to $400.00 and gave the stock an "equal weight" rating in a report on Tuesday, April 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on Hubbell in a report on Monday, March 11th. They issued a "hold" rating and a $427.00 price target for the company. Wells Fargo & Company boosted their price target on Hubbell from $351.00 to $360.00 and gave the stock an "equal weight" rating in a report on Wednesday, January 31st. StockNews.com downgraded Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, February 2nd. Finally, Mizuho lifted their price objective on Hubbell from $370.00 to $450.00 and gave the company a "buy" rating in a research report on Wednesday, March 20th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $383.57.

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.