Hubbell Incorporated (NYSE:HUBB) Shares Bought by Nordea Investment Management AB

Nordea Investment Management AB lifted its position in shares of Hubbell Incorporated (NYSE:HUBB) by 29.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 160,630 shares of the industrial products company’s stock after acquiring an additional 36,643 shares during the period. Nordea Investment Management AB’s holdings in Hubbell were worth $67,503,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC raised its position in shares of Hubbell by 0.9% during the 2nd quarter. Commonwealth Equity Services LLC now owns 10,665 shares of the industrial products company’s stock worth $3,898,000 after purchasing an additional 93 shares during the period. National Bank of Canada FI boosted its holdings in Hubbell by 24.6% during the second quarter. National Bank of Canada FI now owns 14,756 shares of the industrial products company’s stock worth $5,299,000 after buying an additional 2,915 shares in the last quarter. Private Advisor Group LLC grew its position in Hubbell by 89.0% in the second quarter. Private Advisor Group LLC now owns 4,688 shares of the industrial products company’s stock worth $1,713,000 after buying an additional 2,207 shares during the last quarter. Savant Capital LLC increased its holdings in shares of Hubbell by 2.6% in the second quarter. Savant Capital LLC now owns 1,205 shares of the industrial products company’s stock valued at $440,000 after buying an additional 31 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its position in shares of Hubbell by 51.3% during the 2nd quarter. Acadian Asset Management LLC now owns 3,693 shares of the industrial products company’s stock valued at $1,347,000 after acquiring an additional 1,252 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on HUBB shares. Mizuho boosted their price objective 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. JPMorgan Chase & Co. lowered shares of Hubbell from an “overweight” rating to a “neutral” rating and lifted their price target for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Deutsche Bank Aktiengesellschaft lowered Hubbell from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $493.00 to $473.00 in a research note on Tuesday, November 26th. Wells Fargo & Company decreased their target price on Hubbell from $455.00 to $450.00 and set an “equal weight” rating for the company in a research note on Tuesday. Finally, Barclays raised their price objective on shares of Hubbell from $402.00 to $475.00 and gave the stock an “equal weight” rating in a research note on Thursday, December 5th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Hubbell currently has a consensus rating of “Hold” and an average price target of $471.50.

Hubbell Price Performance

Shares of HUBB stock opened at $434.34 on Wednesday. Hubbell Incorporated has a 52 week low of $317.32 and a 52 week high of $481.35. 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 fifty day moving average is $445.05 and its 200-day moving average is $413.95. The stock has a market capitalization of $23.31 billion, a PE ratio of 31.29, a PEG ratio of 1.69 and a beta of 0.93.

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

Hubbell Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were issued a $1.32 dividend. This is a boost from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend was Friday, November 29th. This represents a $5.28 annualized dividend and a dividend yield of 1.22%. Hubbell’s dividend payout ratio (DPR) is presently 38.04%.

Insiders Place Their Bets

In other news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction that occurred 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 owns 2,957 shares in the company, valued at approximately $1,378,553.40. This trade represents a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.66% of the company’s stock.

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.