APG Asset Management N.V. Has $1.84 Million Stock Position in Hubbell Incorporated (NYSE:HUBB)

APG Asset Management N.V. raised its holdings in Hubbell Incorporated (NYSE:HUBB) by 260.0% during the second quarter, HoldingsChannel reports. The firm owned 5,400 shares of the industrial products company’s stock after acquiring an additional 3,900 shares during the quarter. APG Asset Management N.V.’s holdings in Hubbell were worth $1,841,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. TD Asset Management Inc grew its position in Hubbell by 343.8% in the fourth quarter. TD Asset Management Inc now owns 43,785 shares of the industrial products company’s stock valued at $14,402,000 after acquiring an additional 33,920 shares during the last quarter. Allianz Asset Management GmbH grew its holdings in shares of Hubbell by 26.5% during the 4th quarter. Allianz Asset Management GmbH now owns 25,829 shares of the industrial products company’s stock valued at $8,496,000 after purchasing an additional 5,406 shares during the last quarter. TFO Wealth Partners LLC grew its holdings in shares of Hubbell by 13,200.0% during the 4th quarter. TFO Wealth Partners LLC now owns 266 shares of the industrial products company’s stock valued at $87,000 after purchasing an additional 264 shares during the last quarter. Bank of Nova Scotia lifted its stake in Hubbell by 525.4% in the 4th quarter. Bank of Nova Scotia now owns 7,974 shares of the industrial products company’s stock valued at $2,623,000 after purchasing an additional 6,699 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in Hubbell by 0.9% in the fourth quarter. California State Teachers Retirement System now owns 83,593 shares of the industrial products company’s stock valued at $27,496,000 after buying an additional 733 shares in the last quarter. Institutional investors own 88.16% of the company’s stock.

Wall Street Analysts Forecast Growth

HUBB has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their price target on shares of Hubbell from $383.00 to $385.00 and gave the stock an “overweight” rating in a report on Wednesday, July 31st. Morgan Stanley started coverage on shares of Hubbell in a report on Friday, September 6th. They issued an “equal weight” rating and a $407.00 price objective for the company. Wells Fargo & Company lifted their target price on shares of Hubbell from $397.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and upped their price target for the company from $431.00 to $441.00 in a research report on Friday, September 6th. Finally, Stephens reiterated an “overweight” rating and set a $450.00 price target on shares of Hubbell in a report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Hubbell presently has an average rating of “Moderate Buy” and a consensus price target of $404.88.

Insider Transactions at Hubbell

In related news, Director Carlos M. Cardoso sold 450 shares of the business’s stock in a transaction 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 transaction, the director now owns 1,670 shares in the company, valued at approximately $608,781.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Gerben Bakker sold 15,677 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $374.34, for a total value of $5,868,528.18. Following the transaction, the chief executive officer now directly owns 66,415 shares in the company, valued at approximately $24,861,791.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Carlos M. Cardoso sold 450 shares of the business’s stock in a transaction 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 sale, the director now owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. The disclosure for this sale can be found here. Insiders own 0.66% of the company’s stock.

Hubbell Price Performance

Shares of NYSE HUBB opened at $428.35 on Tuesday. The company has a market capitalization of $23.00 billion, a PE ratio of 31.94, a P/E/G ratio of 1.56 and a beta of 0.90. The company has a quick ratio of 1.13, a current ratio of 1.81 and a debt-to-equity ratio of 0.62. Hubbell Incorporated has a twelve month low of $248.37 and a twelve month high of $433.03. The firm has a fifty day simple moving average of $387.00 and a 200 day simple moving average of $389.86.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share for the quarter, topping the consensus estimate of $4.24 by $0.13. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The firm had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same period last year, the company posted $4.07 EPS. The business’s quarterly revenue was up 6.3% on a year-over-year basis. On average, sell-side analysts forecast 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 issued a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend was Friday, August 30th. Hubbell’s payout ratio is 36.39%.

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.