40,000 Shares in Hubbell Incorporated (NYSE:HUBB) Purchased by Factory Mutual Insurance Co.

Factory Mutual Insurance Co. bought a new stake in shares of Hubbell Incorporated (NYSE:HUBB) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 40,000 shares of the industrial products company’s stock, valued at approximately $17,134,000.

Other large investors have also modified their holdings of the company. Nordea Investment Management AB lifted its holdings 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 buying an additional 6,275 shares during the period. IFG Advisory LLC purchased a new stake in shares of Hubbell during the 2nd quarter worth $475,000. Vaughan Nelson Investment Management L.P. boosted its position in Hubbell by 81.0% during 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 in the last quarter. New Mexico Educational Retirement Board grew its stake in Hubbell by 304.6% in the first quarter. New Mexico Educational Retirement Board now owns 11,287 shares of the industrial products company’s stock valued at $4,685,000 after purchasing an additional 8,497 shares during the last quarter. Finally, Sustainable Insight Capital Management LLC bought a new position in Hubbell in the first quarter worth about $1,868,000. Institutional investors own 88.16% of the company’s stock.

Insider Transactions at Hubbell

In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the company’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $374.34, for a total value of $5,868,528.18. Following the sale, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction that occurred on 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 in the company, valued at approximately $24,861,791.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carlos M. Cardoso sold 450 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total value of $164,043.00. Following the completion of the sale, the director now owns 1,670 shares in the company, valued at approximately $608,781.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.66% of the company’s stock.

Hubbell Stock Performance

HUBB traded up $13.12 on Friday, reaching $456.57. 326,409 shares of the stock were exchanged, compared to its average volume of 447,486. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.81 and a quick ratio of 1.13. The company’s 50-day moving average price is $399.82 and its 200 day moving average price is $392.08. The firm has a market capitalization of $24.51 billion, a PE ratio of 34.05, a PEG ratio of 1.67 and a beta of 0.90. Hubbell Incorporated has a fifty-two week low of $248.37 and a fifty-two week high of $457.00.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.13. The firm had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period last year, the business posted $4.07 earnings per share. As a group, sell-side analysts forecast that Hubbell Incorporated will post 16.41 EPS for the current fiscal year.

Hubbell Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend was Friday, August 30th. Hubbell’s dividend payout ratio (DPR) is currently 36.39%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on HUBB shares. Stephens reaffirmed an “overweight” rating and issued a $450.00 price objective on shares of Hubbell in a research report on Friday, August 2nd. 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 target on the stock. Wells Fargo & Company upped their price target on Hubbell from $400.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. cut Hubbell from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $385.00 to $454.00 in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft raised Hubbell from a “hold” rating to a “buy” rating and upped their target price for the company from $431.00 to $441.00 in a research report on Friday, September 6th. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $423.13.

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.