Handelsinvest Investeringsforvaltning Sells 683 Shares of Hubbell Incorporated (NYSE:HUBB)

Handelsinvest Investeringsforvaltning cut its position in shares of Hubbell Incorporated (NYSE:HUBB) by 34.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,316 shares of the industrial products company’s stock after selling 683 shares during the quarter. Handelsinvest Investeringsforvaltning’s holdings in Hubbell were worth $546,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Van Leeuwen & Company LLC grew its holdings in shares of Hubbell by 59.8% in the fourth quarter. Van Leeuwen & Company LLC now owns 8,265 shares of the industrial products company’s stock valued at $2,719,000 after acquiring an additional 3,092 shares in the last quarter. Chevy Chase Trust Holdings LLC increased its position in shares of Hubbell by 265.7% during the 4th quarter. Chevy Chase Trust Holdings LLC now owns 41,234 shares of the industrial products company’s stock valued at $13,563,000 after purchasing an additional 29,959 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Hubbell by 119.0% during the 4th quarter. Nordea Investment Management AB now owns 153,810 shares of the industrial products company’s stock valued at $50,388,000 after purchasing an additional 83,581 shares during the last quarter. PFG Advisors bought a new stake in shares of Hubbell during the 4th quarter worth $1,108,000. Finally, Clearbridge Investments LLC purchased a new position in shares of Hubbell in the 4th quarter worth about $1,258,000. 88.16% of the stock is owned by institutional investors.

Hubbell Stock Performance

Shares of HUBB opened at $366.30 on Wednesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.03 and a current ratio of 1.66. The stock has a market capitalization of $19.67 billion, a price-to-earnings ratio of 27.28, a price-to-earnings-growth ratio of 1.35 and a beta of 0.90. Hubbell Incorporated has a 52-week low of $248.37 and a 52-week high of $429.61. The stock’s 50-day simple moving average is $387.00 and its 200 day simple moving average is $373.28.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.54 by $0.06. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.39 billion. Hubbell had a net margin of 13.23% and a return on equity of 29.55%. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $3.61 earnings per share. Research analysts forecast that Hubbell Incorporated will post 16.33 EPS for the current fiscal year.

Hubbell Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Friday, May 31st were issued a $1.22 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $4.88 annualized dividend and a dividend yield of 1.33%. Hubbell’s payout ratio is currently 36.39%.

Insider Buying and Selling

In other Hubbell news, Director Neal J. Keating bought 500 shares of Hubbell stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 8,571 shares in the company, valued at $3,246,437.67. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Mark Eugene Mikes sold 1,942 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $401.34, for a total transaction of $779,402.28. Following the transaction, the insider now directly owns 3,436 shares of the company’s stock, valued at approximately $1,379,004.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Neal J. Keating purchased 500 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were acquired at an average cost of $378.77 per share, for a total transaction of $189,385.00. Following the completion of the purchase, the director now directly owns 8,571 shares of the company’s stock, valued at approximately $3,246,437.67. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 3,055 shares of company stock worth $1,232,139. Corporate insiders own 0.78% of the company’s stock.

Wall Street Analyst Weigh In

HUBB has been the subject of a number of research analyst reports. Wells Fargo & Company decreased their price objective on shares of Hubbell from $435.00 to $397.00 and set an “equal weight” rating for the company in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft assumed coverage on Hubbell in a research note on Monday, March 11th. They issued a “hold” rating and a $427.00 price objective on the stock. Mizuho raised their target price on Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Finally, Barclays dropped their price target on Hubbell from $400.00 to $384.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 2nd. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $386.57.

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.