Jennison Associates LLC Buys 43,671 Shares of Hubbell Incorporated (NYSE:HUBB)

Jennison Associates LLC boosted its position in Hubbell Incorporated (NYSE:HUBB) by 231.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 62,577 shares of the industrial products company’s stock after purchasing an additional 43,671 shares during the quarter. Jennison Associates LLC’s holdings in Hubbell were worth $26,213,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC increased its stake in Hubbell by 122.4% in the 4th quarter. Janney Montgomery Scott LLC now owns 28,723 shares of the industrial products company’s stock worth $12,032,000 after acquiring an additional 15,806 shares during the last quarter. Salem Investment Counselors Inc. increased its position in shares of Hubbell by 26.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 9,144 shares of the industrial products company’s stock worth $3,830,000 after purchasing an additional 1,886 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Hubbell by 7.1% in the third quarter. Principal Financial Group Inc. now owns 229,210 shares of the industrial products company’s stock worth $98,187,000 after purchasing an additional 15,215 shares during the last quarter. LGT Capital Partners LTD. bought a new stake in shares of Hubbell during the 3rd quarter worth $39,687,000. Finally, Impax Asset Management Group plc grew its position in Hubbell by 30.3% in the third quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock worth $514,377,000 after acquiring an additional 279,654 shares in the last quarter. Institutional investors own 88.16% of the company’s stock.

Hubbell Price Performance

HUBB opened at $401.11 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. The stock’s 50 day moving average price is $437.00 and its 200-day moving average price is $422.35. The stock has a market capitalization of $21.53 billion, a PE ratio of 28.90, a price-to-earnings-growth ratio of 1.45 and a beta of 0.92. Hubbell Incorporated has a 52-week low of $342.85 and a 52-week high of $481.35.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $4.02 by $0.08. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.41 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The business’s revenue for the quarter was down .9% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.69 EPS. On average, equities research analysts predict that Hubbell Incorporated will post 16.48 EPS for the current year.

Hubbell Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a dividend of $1.32 per share. The ex-dividend date is Friday, February 28th. This represents a $5.28 annualized dividend and a dividend yield of 1.32%. Hubbell’s payout ratio is 38.04%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a report on Tuesday, January 28th. Mizuho increased their price target 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. Barclays boosted their price objective on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a report on Thursday, December 5th. 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 target price on the stock. Finally, JPMorgan Chase & Co. lowered shares of Hubbell from an “overweight” rating to a “neutral” rating and upped their price target for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Hubbell presently has an average rating of “Hold” and a consensus price target of $471.50.

Insider Buying and Selling at Hubbell

In other news, insider Mark Eugene Mikes sold 1,144 shares of the company’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 transaction, the insider now directly owns 2,957 shares of the company’s stock, valued at $1,378,553.40. This represents a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.78% of the stock is owned by company insiders.

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.