Aviva PLC Buys 178 Shares of Hubbell Incorporated (NYSE:HUBB)

Aviva PLC boosted its holdings in Hubbell Incorporated (NYSE:HUBB) by 0.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 220,529 shares of the industrial products company’s stock after buying an additional 178 shares during the period. Aviva PLC owned 0.41% of Hubbell worth $92,377,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in HUBB. KCM Investment Advisors LLC grew its position in shares of Hubbell by 26.0% during the fourth quarter. KCM Investment Advisors LLC now owns 1,260 shares of the industrial products company’s stock valued at $528,000 after purchasing an additional 260 shares in the last quarter. Resona Asset Management Co. Ltd. bought a new position in Hubbell during the fourth quarter valued at $6,667,000. Wells Fargo & Company MN grew its holdings in Hubbell by 7.4% during the 4th quarter. Wells Fargo & Company MN now owns 125,775 shares of the industrial products company’s stock valued at $52,686,000 after purchasing an additional 8,662 shares during the last quarter. Prudential PLC raised its holdings in shares of Hubbell by 45.5% in the fourth quarter. Prudential PLC now owns 25,082 shares of the industrial products company’s stock worth $10,507,000 after buying an additional 7,846 shares during the period. Finally, DF Dent & Co. Inc. purchased a new stake in Hubbell in the fourth quarter worth $392,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Analyst Upgrades and Downgrades

HUBB has been the topic of a number of research reports. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Thursday. Wells Fargo & Company cut their price objective on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. Finally, Barclays lowered their target price on Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a report on Wednesday, March 26th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Hubbell has a consensus rating of “Hold” and an average target price of $462.13.

Insider Transactions at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the company’s stock in a transaction 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 sale, the insider now directly owns 4,327 shares of the company’s stock, 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 can be accessed through this link. Company insiders own 0.66% of the company’s stock.

Hubbell Price Performance

NYSE HUBB opened at $315.69 on Friday. The stock’s fifty day moving average price is $367.74 and its 200 day moving average price is $416.03. Hubbell Incorporated has a 1 year low of $299.43 and a 1 year high of $481.35. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. The company has a market cap of $16.94 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 1.34 and a beta of 0.95.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $1.41 billion. During the same period in the prior year, the company earned $3.69 earnings per share. The company’s revenue was down .9% on a year-over-year basis. As a group, equities research analysts forecast that Hubbell Incorporated will post 17.63 earnings per share for the current year.

Hubbell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were issued a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.67%. The ex-dividend date was Friday, February 28th. Hubbell’s dividend payout ratio (DPR) is currently 36.77%.

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

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.