Swedbank AB Sells 7,200 Shares of Hubbell Incorporated (NYSE:HUBB)

Swedbank AB cut its holdings in Hubbell Incorporated (NYSE:HUBB) by 16.6% in the fourth quarter, Holdings Channel reports. The fund owned 36,108 shares of the industrial products company’s stock after selling 7,200 shares during the quarter. Swedbank AB’s holdings in Hubbell were worth $15,125,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its position in shares of Hubbell by 1.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,538 shares of the industrial products company’s stock worth $11,892,000 after purchasing an additional 332 shares during the period. Creative Planning raised its stake in Hubbell by 31.9% in the second quarter. Creative Planning now owns 3,473 shares of the industrial products company’s stock worth $1,269,000 after buying an additional 839 shares in the last quarter. Quarry LP purchased a new stake in Hubbell during the second quarter worth $49,000. Cetera Investment Advisers boosted its position in Hubbell by 8.2% during the 2nd quarter. Cetera Investment Advisers now owns 6,484 shares of the industrial products company’s stock valued at $2,370,000 after acquiring an additional 493 shares in the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of Hubbell in the 2nd quarter valued at $2,176,000. 88.16% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Mark Eugene Mikes sold 1,144 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the transaction, the insider now directly owns 2,957 shares in the company, valued at $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 is available at the SEC website. Insiders own 0.66% of the company’s stock.

Hubbell Price Performance

Shares of NYSE:HUBB opened at $422.94 on Friday. Hubbell Incorporated has a twelve month low of $334.17 and a twelve month high of $481.35. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. The company has a market cap of $22.70 billion, a PE ratio of 30.47, a price-to-earnings-growth ratio of 1.43 and a beta of 0.93. The company’s 50 day moving average is $439.29 and its 200 day moving average is $421.26.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 13.33% and a return on equity of 28.81%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.95 earnings per share. On average, sell-side analysts forecast that Hubbell Incorporated will post 16.48 EPS for the current year.

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Friday, February 28th will be paid a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.25%. Hubbell’s payout ratio is currently 38.04%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on HUBB shares. Sanford C. Bernstein began coverage on Hubbell in a research report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price objective on the stock. StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Tuesday. Mizuho increased their target price on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and cut their price target for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. Finally, Morgan Stanley increased their price objective on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $471.50.

Hubbell Company 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.