Groupama Asset Managment Buys 1,010 Shares of Hubbell Incorporated (NYSE:HUBB)

Groupama Asset Managment raised its position in shares of Hubbell Incorporated (NYSE:HUBB) by 17.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,955 shares of the industrial products company’s stock after acquiring an additional 1,010 shares during the quarter. Groupama Asset Managment’s holdings in Hubbell were worth $30,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. IFG Advisory LLC bought a new stake in shares of Hubbell during the second quarter valued at approximately $475,000. Acadian Asset Management LLC grew its position in shares of Hubbell by 51.3% in the 2nd quarter. Acadian Asset Management LLC now owns 3,693 shares of the industrial products company’s stock worth $1,347,000 after buying an additional 1,252 shares during the period. Great Valley Advisor Group Inc. increased its stake in shares of Hubbell by 24.6% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 6,873 shares of the industrial products company’s stock worth $2,511,000 after acquiring an additional 1,359 shares in the last quarter. LGT Capital Partners LTD. bought a new position in shares of Hubbell in the 3rd quarter worth about $39,687,000. Finally, Cetera Advisors LLC purchased a new position in Hubbell during the 1st quarter valued at about $582,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Barclays raised their target price on shares of Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. JPMorgan Chase & Co. cut Hubbell from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $385.00 to $454.00 in a research note on Thursday, October 10th. StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft downgraded Hubbell from a “buy” rating to a “hold” rating and reduced their price target for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Finally, Morgan Stanley upped their price target on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $472.13.

Hubbell Price Performance

HUBB opened at $448.60 on Wednesday. The company’s 50-day simple moving average is $450.21 and its two-hundred day simple moving average is $407.19. Hubbell Incorporated has a 52-week low of $306.92 and a 52-week high of $481.35. The stock has a market capitalization of $24.08 billion, a P/E ratio of 32.32, a P/E/G ratio of 1.72 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.47 by $0.02. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company posted $3.95 earnings per share. As a group, analysts predict that Hubbell Incorporated will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $1.32 dividend. This is an increase from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date is Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a yield of 1.18%. Hubbell’s dividend payout ratio is currently 38.04%.

Insiders Place Their Bets

In other news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the transaction, the insider now owns 2,957 shares in the company, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.78% 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.