Hubbell Incorporated (NYSE:HUBB) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 1.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 32,538 shares of the industrial products company’s stock after buying an additional 332 shares during the period. The Manufacturers Life Insurance Company’s holdings in Hubbell were worth $11,892,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of HUBB. Nordea Investment Management AB boosted its position in Hubbell by 4.1% during the first quarter. Nordea Investment Management AB now owns 160,085 shares of the industrial products company’s stock worth $66,571,000 after acquiring an additional 6,275 shares during the last quarter. IFG Advisory LLC purchased a new position in Hubbell in the 2nd quarter worth approximately $475,000. Point72 Asset Management L.P. boosted its holdings in shares of Hubbell by 4,414.0% during the 4th quarter. Point72 Asset Management L.P. now owns 242,855 shares of the industrial products company’s stock worth $79,882,000 after purchasing an additional 237,475 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in shares of Hubbell by 81.0% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 54,365 shares of the industrial products company’s stock valued at $22,565,000 after purchasing an additional 24,321 shares during the last quarter. Finally, New Mexico Educational Retirement Board lifted its position in Hubbell by 304.6% during the first quarter. New Mexico Educational Retirement Board now owns 11,287 shares of the industrial products company’s stock worth $4,685,000 after buying an additional 8,497 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Transactions at Hubbell

In related news, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value of $164,043.00. Following the completion of the transaction, the director now owns 1,670 shares in the company, valued at $608,781.80. The sale 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 15,677 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the completion of the transaction, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at $24,861,791.10. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Carlos M. Cardoso sold 450 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the completion of the sale, the director now directly owns 1,670 shares in the company, valued at approximately $608,781.80. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Stephens restated an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a report on Friday, August 2nd. JPMorgan Chase & Co. raised their price objective on shares of Hubbell from $383.00 to $385.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Barclays lifted their target price on shares of Hubbell from $368.00 to $400.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Morgan Stanley began coverage on shares of Hubbell in a research note on Friday, September 6th. They issued an “equal weight” rating and a $407.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a “hold” rating to a “buy” rating and lifted their price target for the company from $431.00 to $441.00 in a research report on Friday, September 6th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $408.88.

Hubbell Stock Performance

Shares of HUBB stock opened at $425.90 on Friday. Hubbell Incorporated has a one year low of $248.37 and a one year high of $433.03. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.13 and a current ratio of 1.81. The firm’s 50 day moving average price is $391.76 and its 200-day moving average price is $390.78. The firm has a market cap of $22.86 billion, a P/E ratio of 31.76, a P/E/G ratio of 1.56 and a beta of 0.90.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $4.37 EPS for the quarter, topping the consensus estimate of $4.24 by $0.13. The business had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the business posted $4.07 earnings per share. As a group, equities research analysts predict that Hubbell Incorporated will post 16.45 EPS for the current year.

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were paid a dividend of $1.22 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $4.88 dividend on an annualized basis and a yield of 1.15%. Hubbell’s dividend payout ratio (DPR) is presently 36.39%.

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.