Illinois Municipal Retirement Fund Has $6.31 Million Position in Hubbell Incorporated (NYSE:HUBB)

Illinois Municipal Retirement Fund lessened its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 22.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 19,197 shares of the industrial products company’s stock after selling 5,567 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Hubbell were worth $6,314,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in Hubbell by 1.7% in the 3rd quarter. Vanguard Group Inc. now owns 5,777,774 shares of the industrial products company’s stock valued at $1,810,812,000 after buying an additional 96,435 shares in the last quarter. FMR LLC grew its stake in shares of Hubbell by 2.9% in the third quarter. FMR LLC now owns 2,563,965 shares of the industrial products company’s stock valued at $803,572,000 after acquiring an additional 71,962 shares in the last quarter. International Assets Investment Management LLC increased its position in Hubbell by 32,734.4% during the fourth quarter. International Assets Investment Management LLC now owns 1,472,949 shares of the industrial products company’s stock worth $484,497,000 after acquiring an additional 1,468,463 shares during the period. Invesco Ltd. raised its stake in Hubbell by 10.7% in the 3rd quarter. Invesco Ltd. now owns 1,195,043 shares of the industrial products company’s stock worth $374,538,000 after purchasing an additional 115,886 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in Hubbell by 46.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,020,067 shares of the industrial products company’s stock worth $319,699,000 after purchasing an additional 323,116 shares in the last quarter. Institutional investors own 88.16% of the company’s stock.

Hubbell Price Performance

Shares of HUBB opened at $397.89 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. The stock has a market cap of $21.34 billion, a PE ratio of 28.32, a PEG ratio of 2.38 and a beta of 0.94. Hubbell Incorporated has a 12-month low of $230.50 and a 12-month high of $429.61. The business has a 50-day simple moving average of $393.34 and a two-hundred day simple moving average of $341.12.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.58 by $0.11. Hubbell had a return on equity of 30.82% and a net margin of 14.14%. The company had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the firm posted $2.60 earnings per share. The firm’s revenue was up 10.3% compared to the same quarter last year. Analysts anticipate that Hubbell Incorporated will post 16.43 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were issued a dividend of $1.22 per share. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.23%. Hubbell’s dividend payout ratio (DPR) is presently 34.73%.

Insider Transactions at Hubbell

In related news, VP Nero Jonathan M. Del sold 1,098 shares of the firm’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $352.74, for a total transaction of $387,308.52. Following the completion of the transaction, the vice president now directly owns 3,646 shares of the company’s stock, valued at approximately $1,286,090.04. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Mark Eugene Mikes sold 1,837 shares of the stock in a transaction on Friday, February 9th. The shares were sold at an average price of $358.16, for a total transaction of $657,939.92. Following the completion of the sale, the insider now directly owns 5,296 shares in the company, valued at $1,896,815.36. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Nero Jonathan M. Del sold 1,098 shares of Hubbell stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $352.74, for a total transaction of $387,308.52. Following the transaction, the vice president now directly owns 3,646 shares of the company’s stock, valued at approximately $1,286,090.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,125 shares of company stock worth $12,065,100. Company insiders own 0.78% of the company’s stock.

Analysts Set New Price Targets

HUBB has been the topic of several recent research reports. Mizuho raised their target price on shares of Hubbell from $370.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Wells Fargo & Company raised their price objective on Hubbell from $351.00 to $360.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st. StockNews.com downgraded Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Barclays raised their price target on Hubbell from $340.00 to $400.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 2nd. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of Hubbell in a research report on Monday, March 11th. They set a “hold” rating and a $427.00 price objective for the company. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Hubbell currently has an average rating of “Moderate Buy” and a consensus target price of $383.57.

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.