Nordea Investment Management AB purchased a new position in shares of Hubbell Incorporated (NYSE:HUBB – Get Rating) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 4,470 shares of the industrial products company’s stock, valued at approximately $1,044,000.
Several other large investors have also made changes to their positions in HUBB. Convergence Investment Partners LLC boosted its position in Hubbell by 6.0% in the fourth quarter. Convergence Investment Partners LLC now owns 778 shares of the industrial products company’s stock valued at $183,000 after buying an additional 44 shares in the last quarter. Quent Capital LLC raised its stake in shares of Hubbell by 22.1% during the third quarter. Quent Capital LLC now owns 254 shares of the industrial products company’s stock valued at $57,000 after acquiring an additional 46 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Hubbell by 0.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 5,156 shares of the industrial products company’s stock worth $1,210,000 after buying an additional 47 shares during the last quarter. Commerce Bank raised its stake in Hubbell by 1.3% during the third quarter. Commerce Bank now owns 3,609 shares of the industrial products company’s stock worth $805,000 after buying an additional 48 shares during the last quarter. Finally, Avantax Advisory Services Inc. raised its stake in Hubbell by 3.0% during the third quarter. Avantax Advisory Services Inc. now owns 1,751 shares of the industrial products company’s stock worth $391,000 after buying an additional 51 shares during the last quarter. Institutional investors and hedge funds own 89.71% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on the stock. Wells Fargo & Company lowered their target price on shares of Hubbell from $225.00 to $221.00 and set an “equal weight” rating for the company in a research note on Thursday, April 13th. Mizuho lifted their target price on shares of Hubbell from $252.00 to $300.00 in a research note on Wednesday, April 26th. JPMorgan Chase & Co. raised shares of Hubbell from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $200.00 to $205.00 in a research note on Wednesday, February 1st. StockNews.com cut shares of Hubbell from a “strong-buy” rating to a “buy” rating in a report on Friday, May 5th. Finally, Morgan Stanley lifted their price objective on shares of Hubbell from $226.00 to $238.00 and gave the company an “equal weight” rating in a report on Wednesday, February 1st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Hubbell currently has an average rating of “Hold” and a consensus price target of $237.33.
Hubbell Stock Performance
Hubbell (NYSE:HUBB – Get Rating) last announced its quarterly earnings data on Tuesday, April 25th. The industrial products company reported $3.61 EPS for the quarter, topping the consensus estimate of $2.46 by $1.15. Hubbell had a net margin of 11.15% and a return on equity of 27.72%. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the previous year, the firm posted $2.12 earnings per share. The company’s revenue for the quarter was up 11.2% on a year-over-year basis. As a group, equities analysts forecast that Hubbell Incorporated will post 13.81 earnings per share for the current year.
Hubbell Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Wednesday, May 31st will be issued a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Tuesday, May 30th. Hubbell’s dividend payout ratio (DPR) is presently 42.79%.
Insider Buying and Selling
In other Hubbell news, Director Carlos M. Cardoso sold 560 shares of the business’s stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $273.16, for a total value of $152,969.60. Following the completion of the transaction, the director now owns 1,711 shares of the company’s stock, valued at approximately $467,376.76. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.66% of the stock is currently owned by insiders.
About Hubbell
Hubbell, Inc engages in the designing, manufacturing, and sale of electrical and electronic products for non-residential and residential construction, industrial, and utility applications. It operates through the Electrical Solutions and Utility Solutions segments. The Electrical Solutions segment manufactures and sells wiring and electrical, lighting fixtures, and controls for indoor and outdoor applications as well as specialty lighting and communications products.
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