Swiss Life Asset Management Ltd boosted its position in shares of Hubbell Inc (NYSE:HUBB – Free Report) by 7.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,061 shares of the industrial products company’s stock after acquiring an additional 1,177 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Hubbell were worth $7,133,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in HUBB. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Hubbell during the 3rd quarter worth about $162,309,000. Massachusetts Financial Services Co. MA lifted its stake in Hubbell by 15.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,655,746 shares of the industrial products company’s stock valued at $712,484,000 after purchasing an additional 226,856 shares during the last quarter. Qube Research & Technologies Ltd lifted its stake in Hubbell by 355.8% in the 3rd quarter. Qube Research & Technologies Ltd now owns 222,485 shares of the industrial products company’s stock valued at $95,738,000 after purchasing an additional 173,668 shares during the last quarter. Boston Partners grew its holdings in Hubbell by 30.7% during the third quarter. Boston Partners now owns 736,469 shares of the industrial products company’s stock worth $316,521,000 after purchasing an additional 172,990 shares during the period. Finally, Merewether Investment Management LP bought a new position in Hubbell during the second quarter worth about $68,164,000. Institutional investors and hedge funds own 88.16% of the company’s stock.
Hubbell Trading Down 0.5%
Shares of HUBB stock opened at $483.79 on Thursday. The firm has a 50 day moving average price of $504.88 and a two-hundred day moving average price of $480.80. The company has a quick ratio of 0.94, a current ratio of 1.58 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $25.72 billion, a PE ratio of 28.58, a price-to-earnings-growth ratio of 2.45 and a beta of 0.95. Hubbell Inc has a 12-month low of $374.68 and a 12-month high of $565.50.
Hubbell Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Stockholders of record on Friday, May 29th will be issued a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.2%. Hubbell’s dividend payout ratio (DPR) is currently 33.55%.
Analyst Upgrades and Downgrades
Several analysts have issued reports on HUBB shares. Wall Street Zen lowered Hubbell from a “buy” rating to a “hold” rating in a research note on Tuesday. Weiss Ratings reissued a “buy (b-)” rating on shares of Hubbell in a report on Thursday, January 22nd. JPMorgan Chase & Co. increased their price target on Hubbell from $478.00 to $532.00 and gave the company a “neutral” rating in a research note on Wednesday, February 4th. Barclays raised their price target on Hubbell from $481.00 to $503.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Finally, Morgan Stanley lifted their price objective on shares of Hubbell from $515.00 to $565.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 11th. Five research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $546.25.
View Our Latest Stock Analysis on Hubbell
Insider Buying and Selling at Hubbell
In other news, insider Mark Eugene Mikes sold 2,601 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $523.73, for a total value of $1,362,221.73. Following the completion of the sale, the insider owned 2,592 shares of the company’s stock, valued at approximately $1,357,508.16. The trade was a 50.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.63% of the company’s stock.
About Hubbell
Hubbell Incorporated (NYSE: HUBB) is an industrial manufacturer and distributor of electrical and electronic products serving a range of end markets including commercial and residential construction, industrial, and utility customers. Founded in 1888 by Harvey Hubbell, the company has a long history in electrical innovation and product development and is headquartered in Connecticut. Hubbell designs, manufactures and sells components and systems that enable the distribution and control of electrical power and provide lighting solutions for indoor and outdoor environments.
The company’s offerings span a broad portfolio of products used by contractors, utilities, original equipment manufacturers and facility owners.
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