Aviva PLC Sells 10,127 Shares of Hubbell Incorporated (NYSE:HUBB)

Aviva PLC trimmed its holdings in shares of Hubbell Incorporated (NYSE:HUBB – Get Rating) by 4.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 195,773 shares of the industrial products company’s stock after selling 10,127 shares during the quarter. Aviva PLC owned 0.36% of Hubbell worth $18,051,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in HUBB. Price T Rowe Associates Inc. MD lifted its position in shares of Hubbell by 69.4% during the third quarter. Price T Rowe Associates Inc. MD now owns 4,870,982 shares of the industrial products company’s stock worth $1,086,230,000 after purchasing an additional 1,995,155 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of Hubbell by 133.8% in the first quarter. Wellington Management Group LLP now owns 1,543,481 shares of the industrial products company’s stock valued at $283,646,000 after acquiring an additional 883,272 shares in the last quarter. Scout Investments Inc. raised its holdings in shares of Hubbell by 118.7% in the fourth quarter. Scout Investments Inc. now owns 301,556 shares of the industrial products company’s stock valued at $70,769,000 after acquiring an additional 163,691 shares in the last quarter. ExodusPoint Capital Management LP raised its holdings in shares of Hubbell by 161.8% in the third quarter. ExodusPoint Capital Management LP now owns 243,158 shares of the industrial products company’s stock valued at $54,224,000 after acquiring an additional 150,269 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Hubbell in the fourth quarter valued at about $32,168,000. 89.71% of the stock is currently owned by institutional investors.

Hubbell Price Performance

Shares of NYSE HUBB opened at $286.60 on Friday. The business’s 50 day moving average price is $250.21 and its 200 day moving average price is $245.20. The firm has a market cap of $15.36 billion, a P/E ratio of 27.37, a P/E/G ratio of 1.99 and a beta of 0.99. Hubbell Incorporated has a 52 week low of $170.21 and a 52 week high of $286.69. The company has a quick ratio of 1.25, a current ratio of 1.99 and a debt-to-equity ratio of 0.58.

Hubbell (NYSE:HUBB – Get Rating) last issued its earnings results on Tuesday, April 25th. The industrial products company reported $3.61 EPS for the quarter, beating analysts’ consensus estimates of $2.46 by $1.15. Hubbell had a return on equity of 27.72% and a net margin of 11.15%. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the firm earned $2.12 earnings per share. Hubbell’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, sell-side analysts expect that Hubbell Incorporated will post 13.81 earnings per share for the current year.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Wednesday, May 31st will be given a $1.12 dividend. The ex-dividend date is Tuesday, May 30th. This represents a $4.48 annualized dividend and a yield of 1.56%. Hubbell’s dividend payout ratio is presently 42.79%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HUBB. Wells Fargo & Company reduced their target price on shares of Hubbell from $225.00 to $221.00 and set an “equal weight” rating for the company in a report on Thursday, April 13th. Morgan Stanley boosted their target price on shares of Hubbell from $226.00 to $238.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 1st. JPMorgan Chase & Co. upgraded shares of Hubbell from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $200.00 to $205.00 in a report on Wednesday, February 1st. Mizuho boosted their target price on shares of Hubbell from $252.00 to $300.00 in a report on Wednesday, April 26th. Finally, StockNews.com downgraded shares of Hubbell from a “strong-buy” rating to a “buy” rating in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Hubbell has a consensus rating of “Hold” and an average price target of $237.33.

Insiders Place Their Bets

In other Hubbell news, Director Carlos M. Cardoso sold 560 shares of the company’s stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $273.16, for a total value of $152,969.60. Following the sale, the director now owns 1,711 shares in the company, valued at approximately $467,376.76. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.66% of the company’s stock.

About Hubbell

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Hubbell, Inc engages in the designing, manufacturing, and sale of electrical and electronic products for non-residential and residential construction, industrial, and utility applications. It operates through the Electrical Solutions and Utility Solutions segments. The Electrical Solutions segment manufactures and sells wiring and electrical, lighting fixtures, and controls for indoor and outdoor applications as well as specialty lighting and communications products.