Royal London Asset Management Ltd. Has $6.86 Million Stock Position in Hubbell Incorporated (NYSE:HUBB)

Royal London Asset Management Ltd. lifted its stake in Hubbell Incorporated (NYSE:HUBB) by 61.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 20,868 shares of the industrial products company’s stock after buying an additional 7,950 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Hubbell were worth $6,864,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC grew its stake in Hubbell by 1,850.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock worth $26,000 after buying an additional 74 shares during the last quarter. Lindbrook Capital LLC grew its position in Hubbell by 127.5% during the 4th quarter. Lindbrook Capital LLC now owns 91 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 51 shares during the last quarter. Baillie Gifford & Co. bought a new position in Hubbell in the 4th quarter valued at $33,000. Principal Securities Inc. bought a new position in Hubbell in the 4th quarter valued at $40,000. Finally, TFO Wealth Partners LLC boosted its stake in Hubbell by 13,200.0% in the fourth quarter. TFO Wealth Partners LLC now owns 266 shares of the industrial products company’s stock worth $87,000 after purchasing an additional 264 shares in the last quarter. Institutional investors own 88.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Barclays lowered their target price on Hubbell from $400.00 to $384.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. Wells Fargo & Company dropped their target price on shares of Hubbell from $435.00 to $397.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Hubbell in a research report on Monday, March 11th. They set a “hold” rating and a $427.00 target price on the stock. Finally, Mizuho raised their price target on shares of Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $386.57.

Insider Activity at Hubbell

In other news, insider Alyssa R. Flynn sold 1,106 shares of the business’s stock in a transaction on Friday, May 10th. The shares were sold at an average price of $406.79, for a total value of $449,909.74. Following the completion of the transaction, the insider now owns 4,234 shares of the company’s stock, valued at approximately $1,722,348.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Mark Eugene Mikes sold 1,942 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $401.34, for a total transaction of $779,402.28. Following the sale, the insider now directly owns 3,436 shares in the company, valued at $1,379,004.24. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Alyssa R. Flynn sold 1,106 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $406.79, for a total transaction of $449,909.74. Following the completion of the transaction, the insider now directly owns 4,234 shares of the company’s stock, valued at $1,722,348.86. The disclosure for this sale can be found here. Insiders have sold 3,055 shares of company stock worth $1,232,139 in the last ninety days. Company insiders own 0.66% of the company’s stock.

Hubbell Trading Down 2.7 %

NYSE HUBB traded down $10.27 during trading hours on Friday, hitting $374.74. The company’s stock had a trading volume of 442,020 shares, compared to its average volume of 477,339. The stock has a fifty day moving average of $392.91 and a 200 day moving average of $366.78. The company has a quick ratio of 1.03, a current ratio of 1.66 and a debt-to-equity ratio of 0.64. Hubbell Incorporated has a twelve month low of $248.37 and a twelve month high of $429.61. The firm has a market capitalization of $20.12 billion, a P/E ratio of 27.94, a PEG ratio of 1.49 and a beta of 0.94.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.54 by $0.06. The business had revenue of $1.40 billion for the quarter, compared to analyst estimates of $1.39 billion. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. The firm’s revenue was up 8.8% on a year-over-year basis. During the same period last year, the company earned $3.61 EPS. Equities research analysts forecast that Hubbell Incorporated will post 16.33 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be paid a $1.22 dividend. The ex-dividend date is Friday, May 31st. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.30%. Hubbell’s dividend payout ratio (DPR) is presently 36.39%.

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.