AIA Group Ltd Makes New $2.01 Million Investment in Hubbell Incorporated (NYSE:HUBB)

AIA Group Ltd bought a new position in shares of Hubbell Incorporated (NYSE:HUBB) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 4,800 shares of the industrial products company’s stock, valued at approximately $2,011,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HUBB. Creative Financial Designs Inc. ADV grew its position in Hubbell by 85.7% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company’s stock valued at $27,000 after buying an additional 30 shares during the period. Groupama Asset Managment boosted its stake in Hubbell by 17.0% in the third quarter. Groupama Asset Managment now owns 6,955 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 1,010 shares during the last quarter. Stonebridge Financial Group LLC purchased a new position in Hubbell in the fourth quarter valued at about $30,000. Versant Capital Management Inc grew its position in shares of Hubbell by 64.6% during the 4th quarter. Versant Capital Management Inc now owns 79 shares of the industrial products company’s stock valued at $33,000 after acquiring an additional 31 shares during the period. Finally, Venturi Wealth Management LLC increased its stake in shares of Hubbell by 69.7% during the 4th quarter. Venturi Wealth Management LLC now owns 129 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on HUBB shares. Barclays dropped their price objective on Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. Wells Fargo & Company dropped their price target on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Finally, StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Hubbell has a consensus rating of “Hold” and a consensus target price of $462.13.

Hubbell Price Performance

Shares of NYSE HUBB opened at $331.08 on Tuesday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.98 and a current ratio of 1.64. Hubbell Incorporated has a fifty-two week low of $316.34 and a fifty-two week high of $481.35. The stock has a market cap of $17.77 billion, a PE ratio of 23.06, a price-to-earnings-growth ratio of 1.34 and a beta of 0.94. The stock has a fifty day moving average of $377.84 and a 200-day moving average of $418.38.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 EPS for the quarter, topping the consensus estimate of $4.02 by $0.08. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The business had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same quarter last year, the company earned $3.69 EPS. The firm’s revenue was down .9% compared to the same quarter last year. Equities research analysts anticipate that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the industrial products company to purchase up to 2.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Hubbell Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.59%. The ex-dividend date was Friday, February 28th. Hubbell’s dividend payout ratio (DPR) is presently 36.77%.

Insiders Place Their Bets

In related news, insider Alyssa R. Flynn sold 1,164 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total value of $452,865.84. Following the transaction, the insider now directly owns 4,327 shares in the company, valued at approximately $1,683,462.62. This represents a 21.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.66% 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.