Aviva PLC Boosts Stake in Hubbell Incorporated (NYSE:HUBB)

Aviva PLC lifted its holdings in Hubbell Incorporated (NYSE:HUBB) by 0.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 220,529 shares of the industrial products company’s stock after purchasing an additional 178 shares during the period. Aviva PLC’s holdings in Hubbell were worth $92,377,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Norges Bank acquired a new position in Hubbell in the 4th quarter valued at $195,218,000. Raymond James Financial Inc. acquired a new stake in shares of Hubbell in the fourth quarter valued at about $63,647,000. Bank of New York Mellon Corp raised its position in shares of Hubbell by 4.8% in the fourth quarter. Bank of New York Mellon Corp now owns 2,826,327 shares of the industrial products company’s stock valued at $1,183,920,000 after buying an additional 129,490 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Hubbell in the fourth quarter worth about $40,533,000. Finally, Massachusetts Financial Services Co. MA boosted its position in Hubbell by 6.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,510,430 shares of the industrial products company’s stock worth $632,704,000 after acquiring an additional 92,954 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Trading Down 1.8 %

Shares of HUBB stock opened at $315.69 on Friday. The company has a 50-day moving average of $367.74 and a two-hundred day moving average of $416.03. The firm has a market cap of $16.94 billion, a PE ratio of 21.98, a price-to-earnings-growth ratio of 1.34 and a beta of 0.95. Hubbell Incorporated has a 1-year low of $299.43 and a 1-year high of $481.35. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $4.02 by $0.08. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The business had revenue of $1.33 billion during the quarter, compared to analysts’ expectations of $1.41 billion. During the same period in the previous year, the firm posted $3.69 earnings per share. The company’s revenue was down .9% on a year-over-year basis. On average, analysts predict that Hubbell Incorporated will post 17.63 EPS for the current year.

Hubbell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Friday, February 28th were paid a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.67%. The ex-dividend date was Friday, February 28th. Hubbell’s payout ratio is 36.77%.

Hubbell announced that its Board of Directors has authorized a stock buyback program on Wednesday, February 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to buy up to 2.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts have weighed in on HUBB shares. Barclays decreased their target price on shares of Hubbell from $422.00 to $400.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 26th. Wells Fargo & Company reduced their price objective on Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Finally, StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, Hubbell has an average rating of “Hold” and a consensus price target of $462.13.

Insider Activity at Hubbell

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $389.06, for a total value of $452,865.84. Following the completion of the transaction, the insider now owns 4,327 shares of the company’s stock, valued at $1,683,462.62. This trade represents a 21.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.66% 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.