BI Asset Management Fondsmaeglerselskab A S Buys 10,023 Shares of Hubbell Incorporated (NYSE:HUBB)

BI Asset Management Fondsmaeglerselskab A S grew its position in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 628.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,618 shares of the industrial products company's stock after purchasing an additional 10,023 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Hubbell were worth $3,822,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Hubbell by 1.7% in the third quarter. Vanguard Group Inc. now owns 5,777,774 shares of the industrial products company's stock valued at $1,810,812,000 after acquiring an additional 96,435 shares in the last quarter. FMR LLC increased its holdings in Hubbell by 2.9% in the third quarter. FMR LLC now owns 2,563,965 shares of the industrial products company's stock valued at $803,572,000 after buying an additional 71,962 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Hubbell by 32,734.4% in the fourth quarter. International Assets Investment Management LLC now owns 1,472,949 shares of the industrial products company's stock valued at $484,497,000 after buying an additional 1,468,463 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Hubbell by 24.4% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,268,560 shares of the industrial products company's stock valued at $417,267,000 after buying an additional 248,493 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Hubbell by 10.7% in the third quarter. Invesco Ltd. now owns 1,195,043 shares of the industrial products company's stock valued at $374,538,000 after buying an additional 115,886 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Price Performance

Shares of HUBB stock traded up $5.03 during midday trading on Monday, reaching $397.77. 333,187 shares of the company traded hands, compared to its average volume of 424,829. The firm's 50 day simple moving average is $401.64 and its two-hundred day simple moving average is $355.11. Hubbell Incorporated has a 1-year low of $248.37 and a 1-year high of $429.61. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.66 and a quick ratio of 1.03. The firm has a market cap of $21.36 billion, a PE ratio of 29.66, a price-to-earnings-growth ratio of 1.52 and a beta of 0.96.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.54 by $0.06. Hubbell had a net margin of 13.23% and a return on equity of 29.55%. The company had revenue of $1.40 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same period last year, the firm earned $3.61 EPS. The company's revenue for the quarter was up 8.8% on a year-over-year basis. On average, equities research analysts expect that Hubbell Incorporated will post 16.38 EPS for the current fiscal year.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Friday, May 31st will be given a dividend of $1.22 per share. The ex-dividend date of this dividend is Friday, May 31st. This represents a $4.88 annualized dividend and a dividend yield of 1.23%. Hubbell's dividend payout ratio is currently 36.39%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on HUBB. Wells Fargo & Company decreased their target price on shares of Hubbell from $435.00 to $397.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 1st. Mizuho increased their target price on shares of Hubbell from $370.00 to $450.00 and gave the stock a "buy" rating in a research note on Wednesday, March 20th. Barclays decreased their target price on shares of Hubbell from $400.00 to $384.00 and set an "equal weight" rating for the company in a research note on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft began coverage on shares of Hubbell in a research note on Monday, March 11th. They set a "hold" rating and a $427.00 target price for the company. Finally, StockNews.com downgraded shares of Hubbell from a "buy" rating to a "hold" rating in a research note on Friday, February 2nd. Five equities research 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 presently has an average rating of "Moderate Buy" and an average target price of $386.57.

Insider Buying and Selling at Hubbell

In other news, Director Neal J. Keating acquired 500 shares of the company's stock in a transaction dated 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 acquisition, the director now directly owns 8,571 shares in the company, valued at approximately $3,246,437.67. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Hubbell news, insider Mark Eugene Mikes sold 1,942 shares of the company's stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $401.34, for a total value of $779,402.28. Following the completion of the transaction, the insider now directly owns 3,436 shares of the company's stock, valued at approximately $1,379,004.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Neal J. Keating acquired 500 shares of the firm's stock in a transaction on Friday, May 3rd. The stock was purchased 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 in the company, valued at $3,246,437.67. The disclosure for this purchase can be found here. In the last three months, insiders sold 3,055 shares of company stock worth $1,232,139. Insiders own 0.78% 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.