Hubbell Incorporated (NYSE:HUBB) Shares Bought by Panagora Asset Management Inc.

Panagora Asset Management Inc. grew its stake in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 69.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,425 shares of the industrial products company's stock after purchasing an additional 7,564 shares during the quarter. Panagora Asset Management Inc.'s holdings in Hubbell were worth $6,061,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Xponance Inc. raised its holdings in Hubbell by 0.4% in the fourth quarter. Xponance Inc. now owns 9,140 shares of the industrial products company's stock worth $3,006,000 after purchasing an additional 36 shares in the last quarter. Atria Wealth Solutions Inc. raised its holdings in Hubbell by 2.4% in the third quarter. Atria Wealth Solutions Inc. now owns 1,924 shares of the industrial products company's stock worth $603,000 after purchasing an additional 45 shares in the last quarter. Lindbrook Capital LLC raised its holdings in Hubbell by 127.5% in the fourth quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company's stock worth $30,000 after purchasing an additional 51 shares in the last quarter. Essex Financial Services Inc. raised its holdings in Hubbell by 3.1% in the fourth quarter. Essex Financial Services Inc. now owns 1,703 shares of the industrial products company's stock worth $560,000 after purchasing an additional 52 shares in the last quarter. Finally, CIBC Asset Management Inc raised its holdings in Hubbell by 3.1% in the third quarter. CIBC Asset Management Inc now owns 1,868 shares of the industrial products company's stock worth $585,000 after purchasing an additional 57 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company's stock.

Insiders Place Their Bets

In other news, Director Neal J. Keating bought 500 shares of the company's stock in a transaction on Friday, May 3rd. The shares were acquired at an average cost of $378.77 per share, with a total value of $189,385.00. Following the completion of the transaction, the director now owns 8,571 shares of the company's stock, valued at approximately $3,246,437.67. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Alyssa R. Flynn sold 1,106 shares of Hubbell stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $406.79, for a total transaction of $449,909.74. Following the transaction, the insider now directly owns 4,234 shares of the company's stock, valued at approximately $1,722,348.86. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Neal J. Keating acquired 500 shares of the stock in a transaction dated Friday, May 3rd. The shares were bought 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 owns 8,571 shares in the company, valued at $3,246,437.67. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 3,055 shares of company stock valued at $1,232,139. Insiders own 0.66% of the company's stock.

Hubbell Stock Performance

Shares of Hubbell stock traded up $1.41 during trading on Friday, hitting $392.74. 380,105 shares of the company's stock traded hands, compared to its average volume of 487,230. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.66 and a quick ratio of 1.03. Hubbell Incorporated has a 1 year low of $248.37 and a 1 year high of $429.61. The stock has a market capitalization of $21.09 billion, a P/E ratio of 29.29, a PEG ratio of 1.51 and a beta of 0.96. The business has a 50-day simple moving average of $401.44 and a 200-day simple moving average of $353.18.

Hubbell (NYSE:HUBB - Get Free Report) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.54 by $0.06. The business had revenue of $1.40 billion for 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 business's revenue for the quarter was up 8.8% on a year-over-year basis. During the same period last year, the firm posted $3.61 earnings per share. As a group, analysts forecast that Hubbell Incorporated will post 16.38 EPS for the current year.

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be given a $1.22 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $4.88 annualized dividend and a yield of 1.24%. Hubbell's payout ratio is 36.39%.

Wall Street Analysts Forecast Growth

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

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.