OLD Republic International Corp Has $79.19 Million Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

OLD Republic International Corp cut its position in shares of Hubbell Incorporated (NYSE:HUBB) by 4.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 240,750 shares of the industrial products company’s stock after selling 10,000 shares during the period. Hubbell comprises about 3.0% of OLD Republic International Corp’s investment portfolio, making the stock its 2nd largest position. OLD Republic International Corp owned about 0.45% of Hubbell worth $79,190,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Chevy Chase Trust Holdings LLC boosted its position in shares of Hubbell by 265.7% during the fourth quarter. Chevy Chase Trust Holdings LLC now owns 41,234 shares of the industrial products company’s stock worth $13,563,000 after purchasing an additional 29,959 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Hubbell by 119.0% in the fourth quarter. Nordea Investment Management AB now owns 153,810 shares of the industrial products company’s stock valued at $50,388,000 after purchasing an additional 83,581 shares during the last quarter. PFG Advisors bought a new position in Hubbell during the fourth quarter worth about $1,108,000. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Hubbell by 117.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 20,456 shares of the industrial products company’s stock valued at $6,729,000 after buying an additional 11,046 shares during the period. Finally, Financiere des Professionnels Fonds d investissement inc. grew its holdings in shares of Hubbell by 23.9% during the 4th quarter. Financiere des Professionnels Fonds d investissement inc. now owns 17,096 shares of the industrial products company’s stock worth $5,623,000 after purchasing an additional 3,293 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Hubbell news, insider Mark Eugene Mikes sold 397 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $363.45, for a total value of $144,289.65. Following the transaction, the insider now owns 4,899 shares in the company, valued at $1,780,541.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Hubbell news, insider Mark Eugene Mikes sold 397 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was 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 of the company’s stock, valued at $1,780,541.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Neal J. Keating acquired 500 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average cost of $378.77 per share, with a total value of $189,385.00. Following the transaction, the director now directly owns 8,571 shares in the company, valued at approximately $3,246,437.67. The disclosure for this purchase can be found here. 0.78% of the stock is currently owned by corporate insiders.

Hubbell Stock Performance

Hubbell stock traded down $3.18 during mid-day trading on Friday, hitting $406.03. 85,553 shares of the company’s stock traded hands, compared to its average volume of 427,037. The firm has a 50 day moving average price of $400.01 and a 200 day moving average price of $348.25. The company has a quick ratio of 1.03, a current ratio of 1.66 and a debt-to-equity ratio of 0.64. The company has a market cap of $21.77 billion, a PE ratio of 30.49, a price-to-earnings-growth ratio of 1.47 and a beta of 0.96. Hubbell Incorporated has a one year low of $248.37 and a one year high of $429.61.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, April 30th. The industrial products company reported $3.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.54 by $0.06. The business had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Hubbell had a return on equity of 29.55% and a net margin of 13.23%. The company’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm posted $3.61 EPS. On average, equities analysts forecast that Hubbell Incorporated will post 16.35 EPS for the current year.

Hubbell Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be issued a dividend of $1.22 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.20%. Hubbell’s dividend payout ratio is 36.39%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on HUBB shares. StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Wells Fargo & Company decreased their target price 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, May 1st. Barclays reduced their price objective on Hubbell from $400.00 to $384.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft assumed coverage on Hubbell in a research report on Monday, March 11th. They issued a “hold” rating and a $427.00 target price for the company. Finally, Mizuho upped their price target on Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, March 20th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $386.57.

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.