Avanza Fonder AB Takes $2.45 Million Position in Hubbell Incorporated (NYSE:HUBB)

Avanza Fonder AB bought a new stake in Hubbell Incorporated (NYSE:HUBB) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,842 shares of the industrial products company’s stock, valued at approximately $2,447,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. First Pacific Financial grew its holdings in shares of Hubbell by 11,180.0% during the fourth quarter. First Pacific Financial now owns 1,692 shares of the industrial products company’s stock valued at $709,000 after buying an additional 1,677 shares during the last quarter. Occidental Asset Management LLC lifted its position in Hubbell by 0.7% in the 4th quarter. Occidental Asset Management LLC now owns 11,325 shares of the industrial products company’s stock valued at $4,744,000 after acquiring an additional 81 shares in the last quarter. Empirical Asset Management LLC acquired a new position in Hubbell during the 4th quarter valued at about $5,288,000. JGP Wealth Management LLC increased its holdings in Hubbell by 1.2% during the 4th quarter. JGP Wealth Management LLC now owns 2,110 shares of the industrial products company’s stock worth $884,000 after purchasing an additional 26 shares in the last quarter. Finally, Park Avenue Securities LLC raised its stake in shares of Hubbell by 20.7% in the fourth quarter. Park Avenue Securities LLC now owns 2,583 shares of the industrial products company’s stock worth $1,082,000 after purchasing an additional 443 shares during the last quarter. Institutional investors own 88.16% of the company’s stock.

Hubbell Trading Up 0.8 %

NYSE:HUBB opened at $437.52 on Friday. The firm’s 50 day moving average is $442.54 and its 200 day moving average is $417.38. Hubbell Incorporated has a 12 month low of $322.27 and a 12 month high of $481.35. The stock has a market capitalization of $23.48 billion, a PE ratio of 31.52, a price-to-earnings-growth ratio of 1.45 and a beta of 0.93. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.47 by $0.02. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The business’s revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $3.95 earnings per share. Sell-side analysts expect that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend was Friday, November 29th. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio (DPR) is currently 38.04%.

Wall Street Analysts Forecast Growth

HUBB has been the topic of several analyst reports. Morgan Stanley lifted their target price on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Sanford C. Bernstein began coverage on shares of Hubbell in a report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price objective on the stock. Barclays increased their target price on shares of Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Mizuho boosted their price target on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $471.50.

Insider Transactions at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total transaction of $533,332.80. Following the sale, the insider now directly owns 2,957 shares in the company, valued at approximately $1,378,553.40. The trade was a 27.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.78% of the company’s stock.

About Hubbell

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.