Mn Services Vermogensbeheer B.V. Lowers Holdings in Hubbell Incorporated (NYSE:HUBB)

Mn Services Vermogensbeheer B.V. lowered its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 3.5% in the fourth quarter, HoldingsChannel reports. The fund owned 24,600 shares of the industrial products company’s stock after selling 900 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Hubbell were worth $8,092,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. International Assets Investment Management LLC raised its stake in Hubbell by 32,734.4% during the fourth quarter. International Assets Investment Management LLC now owns 1,472,949 shares of the industrial products company’s stock worth $484,497,000 after purchasing an additional 1,468,463 shares during the period. Wellington Management Group LLP raised its position in shares of Hubbell by 133.8% in the 1st quarter. Wellington Management Group LLP now owns 1,543,481 shares of the industrial products company’s stock worth $283,646,000 after buying an additional 883,272 shares during the period. Norges Bank acquired a new position in Hubbell in the fourth quarter valued at $90,375,000. Massachusetts Financial Services Co. MA grew its position in Hubbell by 46.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,020,067 shares of the industrial products company’s stock valued at $319,699,000 after acquiring an additional 323,116 shares during the period. Finally, Morgan Stanley grew its position in Hubbell by 44.1% during the fourth quarter. Morgan Stanley now owns 597,030 shares of the industrial products company’s stock valued at $140,111,000 after acquiring an additional 182,790 shares during the period. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Wells Fargo & Company lifted their price objective on Hubbell from $351.00 to $360.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 31st. Mizuho lifted their price target on shares of Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Deutsche Bank Aktiengesellschaft began coverage on shares of Hubbell in a research report on Monday, March 11th. They issued a “hold” rating and a $427.00 price objective for the company. StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, Barclays boosted their target price on shares of Hubbell from $340.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $383.57.

Hubbell Trading Up 0.3 %

NYSE HUBB opened at $402.89 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.01 and a current ratio of 1.64. Hubbell Incorporated has a one year low of $227.39 and a one year high of $429.61. The company has a 50-day simple moving average of $388.99 and a 200-day simple moving average of $337.50. The firm has a market capitalization of $21.61 billion, a PE ratio of 28.68, a price-to-earnings-growth ratio of 2.45 and a beta of 0.94.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, January 30th. The industrial products company reported $3.69 EPS for the quarter, beating analysts’ consensus estimates of $3.58 by $0.11. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.32 billion. Hubbell had a return on equity of 30.82% and a net margin of 14.14%. Hubbell’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.60 earnings per share. On average, equities analysts forecast that Hubbell Incorporated will post 16.43 earnings per share for the current year.

Hubbell Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Thursday, February 29th were paid a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend was Wednesday, February 28th. Hubbell’s payout ratio is 34.73%.

Insider Activity

In other Hubbell news, VP Nero Jonathan M. Del sold 1,098 shares of the business’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $352.74, for a total transaction of $387,308.52. Following the completion of the transaction, the vice president now directly owns 3,646 shares of the company’s stock, valued at approximately $1,286,090.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Gerben Bakker sold 13,355 shares of Hubbell stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $353.13, for a total value of $4,716,051.15. Following the transaction, the chief executive officer now owns 51,783 shares of the company’s stock, valued at approximately $18,286,130.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Nero Jonathan M. Del sold 1,098 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $352.74, for a total transaction of $387,308.52. Following the completion of the sale, the vice president now owns 3,646 shares in the company, valued at $1,286,090.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,125 shares of company stock valued at $12,065,100. 0.78% of the stock is currently owned by company insiders.

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.