Victory Capital Management Inc. Has $170.90 Million Stake in Hubbell Incorporated (NYSE:HUBB)

Victory Capital Management Inc. trimmed its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 5.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 519,559 shares of the industrial products company’s stock after selling 31,223 shares during the period. Victory Capital Management Inc. owned about 0.97% of Hubbell worth $170,899,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in Hubbell by 1.7% in the third quarter. Vanguard Group Inc. now owns 5,777,774 shares of the industrial products company’s stock valued at $1,810,812,000 after purchasing an additional 96,435 shares in the last quarter. FMR LLC grew its position in 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 purchasing an additional 71,962 shares in the last quarter. International Assets Investment Management LLC grew its position in Hubbell by 32,734.4% in the fourth quarter. International Assets Investment Management LLC now owns 1,472,949 shares of the industrial products company’s stock valued at $484,497,000 after purchasing an additional 1,468,463 shares in the last quarter. Invesco Ltd. grew its position in Hubbell by 10.7% in the third quarter. Invesco Ltd. now owns 1,195,043 shares of the industrial products company’s stock valued at $374,538,000 after purchasing an additional 115,886 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in shares of 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 valued at $319,699,000 after acquiring an additional 323,116 shares during the period. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Hubbell in a research report on Monday, March 11th. They issued a “hold” rating and a $427.00 price objective for the company. StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Barclays lifted their price objective on shares of Hubbell from $340.00 to $400.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 2nd. Wells Fargo & Company decreased their price objective on shares of Hubbell from $435.00 to $397.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, Mizuho lifted their price objective on shares of Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Five 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.com, the company has an average rating of “Moderate Buy” and a consensus price target of $388.86.

Hubbell Stock Performance

Shares of HUBB stock opened at $373.30 on Thursday. The company has a market capitalization of $20.02 billion, a price-to-earnings ratio of 27.84, a PEG ratio of 2.26 and a beta of 0.96. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.01 and a current ratio of 1.66. The company has a 50-day simple moving average of $397.61 and a 200 day simple moving average of $344.52. Hubbell Incorporated has a 52 week low of $248.37 and a 52 week high of $429.61.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share for the quarter, topping the consensus estimate of $3.54 by $0.06. Hubbell had a net margin of 13.23% and a return on equity of 29.55%. The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the previous year, the company earned $3.61 EPS. The business’s revenue was up 8.8% on a year-over-year basis. On average, sell-side analysts predict that Hubbell Incorporated will post 16.4 earnings per share for the current year.

Hubbell Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Friday, May 31st will be paid a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 1.31%. The ex-dividend date of this dividend is Thursday, May 30th. Hubbell’s dividend payout ratio (DPR) is 36.39%.

Insiders Place Their Bets

In other Hubbell news, insider Mark Eugene Mikes sold 397 shares of Hubbell stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $363.45, for a total value of $144,289.65. Following the completion of the sale, the insider now owns 4,899 shares in the company, valued at approximately $1,780,541.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Mark Eugene Mikes sold 397 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $363.45, for a total value of $144,289.65. Following the completion of the transaction, the insider now directly owns 4,899 shares in the company, valued at approximately $1,780,541.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gerben Bakker sold 13,355 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $353.13, for a total transaction of $4,716,051.15. Following the completion of the transaction, the chief executive officer now owns 51,783 shares of the company’s stock, valued at $18,286,130.79. The disclosure for this sale can be found here. Insiders sold 34,125 shares of company stock worth $12,065,100 in the last quarter. 0.66% of the stock is currently owned by corporate insiders.

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.