AEGON ASSET MANAGEMENT UK Plc Sells 5,639 Shares of Hubbell Incorporated (NYSE:HUBB)

AEGON ASSET MANAGEMENT UK Plc decreased its position in shares of Hubbell Incorporated (NYSE:HUBB) by 18.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,213 shares of the industrial products company’s stock after selling 5,639 shares during the period. AEGON ASSET MANAGEMENT UK Plc’s holdings in Hubbell were worth $10,142,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Canada Pension Plan Investment Board bought a new stake in Hubbell in the second quarter worth about $2,915,000. ProShare Advisors LLC increased its holdings in shares of Hubbell by 8.4% in the 2nd quarter. ProShare Advisors LLC now owns 7,404 shares of the industrial products company’s stock valued at $2,706,000 after acquiring an additional 575 shares during the period. Public Sector Pension Investment Board grew its stake in Hubbell by 78.6% in the second quarter. Public Sector Pension Investment Board now owns 2,048 shares of the industrial products company’s stock valued at $749,000 after purchasing an additional 901 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Hubbell during the 2nd quarter worth approximately $9,288,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Hubbell by 60.4% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 10,271 shares of the industrial products company’s stock worth $3,754,000 after purchasing an additional 3,869 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Stock Performance

NYSE:HUBB opened at $455.56 on Friday. Hubbell Incorporated has a 52 week low of $326.13 and a 52 week high of $481.35. The company has a market cap of $24.45 billion, a price-to-earnings ratio of 32.82, a price-to-earnings-growth ratio of 1.57 and a beta of 0.93. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. The company has a fifty day simple moving average of $442.63 and a two-hundred day simple moving average of $419.77.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating the consensus estimate of $4.47 by $0.02. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. Hubbell’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.95 earnings per share. As a group, equities analysts anticipate that Hubbell Incorporated will post 16.48 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HUBB. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Thursday, January 16th. Morgan Stanley raised their target price on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Mizuho boosted their price target on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Barclays raised their target price on Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research report on Thursday, December 5th. Finally, JPMorgan Chase & Co. lowered shares of Hubbell from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $385.00 to $454.00 in a report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $471.50.

Insider Activity

In other news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $466.20, for a total value of $533,332.80. Following the sale, the insider now owns 2,957 shares of the company’s stock, valued at $1,378,553.40. The trade was a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

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.