Hubbell Incorporated (NYSE:HUBB) Holdings Increased by abrdn plc

abrdn plc raised its holdings in Hubbell Incorporated (NYSE:HUBB - Free Report) by 2,167.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 206,643 shares of the industrial products company's stock after purchasing an additional 197,530 shares during the quarter. abrdn plc owned about 0.39% of Hubbell worth $67,971,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of HUBB. Panagora Asset Management Inc. increased its stake in Hubbell by 87.6% in the first quarter. Panagora Asset Management Inc. now owns 5,426 shares of the industrial products company's stock valued at $997,000 after purchasing an additional 2,533 shares during the period. Great West Life Assurance Co. Can boosted its holdings in shares of Hubbell by 9.4% in the first quarter. Great West Life Assurance Co. Can now owns 31,791 shares of the industrial products company's stock valued at $6,006,000 after acquiring an additional 2,736 shares in the last quarter. Blair William & Co. IL boosted its holdings in shares of Hubbell by 0.5% in the first quarter. Blair William & Co. IL now owns 22,986 shares of the industrial products company's stock valued at $4,224,000 after acquiring an additional 120 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Hubbell by 0.4% in the first quarter. Vanguard Group Inc. now owns 5,454,758 shares of the industrial products company's stock valued at $1,002,421,000 after acquiring an additional 23,865 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in shares of Hubbell by 137.3% in the first quarter. Covestor Ltd now owns 522 shares of the industrial products company's stock valued at $96,000 after acquiring an additional 302 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Price Performance

HUBB stock traded down $4.25 during trading on Friday, reaching $388.03. 354,622 shares of the company were exchanged, compared to its average volume of 355,326. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.01 and a current ratio of 1.64. The company has a market cap of $20.81 billion, a P/E ratio of 27.62, a PEG ratio of 2.36 and a beta of 0.94. The stock's 50 day moving average price is $391.82 and its 200 day moving average price is $339.85. Hubbell Incorporated has a 52-week low of $229.83 and a 52-week high of $429.61.

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

Hubbell Announces Dividend

The firm also recently announced 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 1.26%. The ex-dividend date of this dividend was Wednesday, February 28th. Hubbell's payout ratio is currently 34.73%.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Hubbell news, VP Katherine Anne Lane sold 1,468 shares of Hubbell stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $352.51, for a total transaction of $517,484.68. Following the completion of the transaction, the vice president now owns 9,355 shares in the company, valued at $3,297,731.05. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Mark Eugene Mikes sold 397 shares of the business's stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $363.45, for a total value of $144,289.65. Following the completion of the transaction, the insider now owns 4,899 shares of the company's stock, valued at $1,780,541.55. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Katherine Anne Lane sold 1,468 shares of the business's stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $352.51, for a total transaction of $517,484.68. Following the completion of the transaction, the vice president now directly owns 9,355 shares of the company's stock, valued at approximately $3,297,731.05. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,125 shares of company stock worth $12,065,100. Insiders own 0.66% of the company's stock.

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.