1,040 Shares in Hubbell Incorporated (NYSE:HUBB) Acquired by Allianz SE

Allianz SE bought a new stake in Hubbell Incorporated (NYSE:HUBB) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,040 shares of the industrial products company’s stock, valued at approximately $436,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Public Sector Pension Investment Board raised its holdings in Hubbell by 14.6% during the third quarter. Public Sector Pension Investment Board now owns 2,348 shares of the industrial products company’s stock valued at $1,006,000 after buying an additional 300 shares in the last quarter. Vinva Investment Management Ltd acquired a new stake in Hubbell in the 3rd quarter worth $773,000. Verition Fund Management LLC grew its position in Hubbell by 406.6% during the third quarter. Verition Fund Management LLC now owns 21,610 shares of the industrial products company’s stock worth $9,257,000 after buying an additional 17,344 shares in the last quarter. Erste Asset Management GmbH bought a new stake in shares of Hubbell during the third quarter valued at approximately $5,462,000. Finally, Paloma Partners Management Co increased its holdings in Hubbell by 53.8% in the 3rd quarter. Paloma Partners Management Co now owns 6,000 shares of the industrial products company’s stock valued at $2,570,000 after buying an additional 2,100 shares during the period. Institutional investors and hedge funds own 88.16% of the company’s stock.

Insider Buying and Selling

In other Hubbell news, insider Alyssa R. Flynn sold 1,164 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $389.06, for a total transaction of $452,865.84. Following the completion of the sale, the insider now directly owns 4,327 shares of the company’s stock, valued at approximately $1,683,462.62. The trade was a 21.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.66% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

HUBB has been the topic of a number of analyst reports. Wells Fargo & Company lowered their target price on shares of Hubbell from $455.00 to $450.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a report on Wednesday, March 26th. Finally, Barclays cut their target price on Hubbell from $422.00 to $400.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 26th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $462.13.

Hubbell Trading Down 3.0 %

HUBB stock opened at $331.68 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.64 and a quick ratio of 0.98. The stock has a market capitalization of $17.80 billion, a price-to-earnings ratio of 23.10, a P/E/G ratio of 1.34 and a beta of 0.94. The business has a fifty day moving average price of $379.97 and a 200 day moving average price of $418.86. Hubbell Incorporated has a fifty-two week low of $330.00 and a fifty-two week high of $481.35.

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

Hubbell declared that its Board of Directors has authorized a stock buyback plan on Wednesday, February 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the industrial products company to purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Hubbell Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Friday, February 28th were issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend was Friday, February 28th. Hubbell’s dividend payout ratio is currently 36.77%.

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.