Swiss National Bank Reduces Position in Hubbell Incorporated (NYSE:HUBB)

Swiss National Bank cut its holdings in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 2.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 167,700 shares of the industrial products company's stock after selling 4,700 shares during the period. Swiss National Bank owned approximately 0.31% of Hubbell worth $55,162,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HUBB. Lindbrook Capital LLC increased its position in shares of Hubbell by 127.5% in the fourth quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company's stock valued at $30,000 after acquiring an additional 51 shares during the last quarter. Baillie Gifford & Co. acquired a new stake in shares of Hubbell in the fourth quarter valued at about $33,000. Sentry Investment Management LLC acquired a new stake in shares of Hubbell in the fourth quarter valued at about $91,000. Grove Bank & Trust increased its position in shares of Hubbell by 14.3% in the third quarter. Grove Bank & Trust now owns 400 shares of the industrial products company's stock valued at $125,000 after acquiring an additional 50 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of Hubbell by 43.2% in the fourth quarter. Blue Trust Inc. now owns 424 shares of the industrial products company's stock valued at $133,000 after acquiring an additional 128 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Mizuho boosted their price target on Hubbell from $370.00 to $450.00 and gave the stock a "buy" rating in a research report on Wednesday, March 20th. Deutsche Bank Aktiengesellschaft assumed coverage on Hubbell in a research report on Monday, March 11th. They set a "hold" rating and a $427.00 price target on the stock. Wells Fargo & Company lowered their price target on Hubbell from $435.00 to $397.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 1st. StockNews.com downgraded Hubbell from a "buy" rating to a "hold" rating in a research report on Friday, February 2nd. Finally, Barclays lowered their price target on Hubbell from $400.00 to $384.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 2nd. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $386.57.

Hubbell Price Performance

Shares of HUBB stock traded up $5.06 during trading on Tuesday, hitting $393.06. The company had a trading volume of 456,149 shares, compared to its average volume of 430,749. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.03 and a current ratio of 1.66. The firm has a market capitalization of $21.08 billion, a P/E ratio of 29.31, a price-to-earnings-growth ratio of 1.47 and a beta of 0.96. The stock's 50-day moving average price is $398.93 and its 200 day moving average price is $347.48. Hubbell Incorporated has a one year low of $248.37 and a one year high of $429.61.

Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.54 by $0.06. The business had revenue of $1.40 billion during the quarter, compared to analysts' expectations of $1.39 billion. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. The firm's revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company posted $3.61 earnings per share. Equities analysts expect that Hubbell Incorporated will post 16.35 EPS for the current fiscal year.

Hubbell Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be paid a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Thursday, May 30th. Hubbell's dividend payout ratio (DPR) is currently 36.39%.

Insider Activity at Hubbell

In other Hubbell 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 transaction of $144,289.65. Following the completion of the transaction, the insider now directly owns 4,899 shares in the company, valued at $1,780,541.55. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Neal J. Keating acquired 500 shares of the stock in a transaction on Friday, May 3rd. The stock was acquired at an average cost of $378.77 per share, for a total transaction of $189,385.00. Following the completion of the transaction, the director now directly owns 8,571 shares in the company, valued at $3,246,437.67. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Mark Eugene Mikes sold 397 shares of the company's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $363.45, for a total transaction of $144,289.65. Following the transaction, the insider now owns 4,899 shares of the company's stock, valued at $1,780,541.55. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,279 shares of company stock worth $1,175,880. Company insiders own 0.78% 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.