Hubbell Incorporated (NYSE:HUBB) Position Increased by Swedbank AB

Swedbank AB grew its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 5.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 43,308 shares of the industrial products company’s stock after purchasing an additional 2,100 shares during the period. Swedbank AB owned 0.08% of Hubbell worth $18,551,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. IFG Advisory LLC acquired a new stake in Hubbell in the second quarter worth $475,000. Acadian Asset Management LLC increased its holdings 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 acquiring an additional 1,252 shares during the period. Great Valley Advisor Group Inc. lifted its position in 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 valued at $2,511,000 after purchasing an additional 1,359 shares during the last quarter. LGT Capital Partners LTD. acquired a new position in Hubbell during the 3rd quarter valued at about $39,687,000. Finally, DekaBank Deutsche Girozentrale grew its position in Hubbell by 2.9% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 99,227 shares of the industrial products company’s stock worth $40,731,000 after purchasing an additional 2,822 shares during the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HUBB. Mizuho boosted their price objective on Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Stephens reissued an “overweight” rating and issued a $450.00 price target on shares of Hubbell in a research note on Friday, August 2nd. StockNews.com upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a research note on Monday. JPMorgan Chase & Co. lowered shares of Hubbell from an “overweight” rating to a “neutral” rating and increased their target price for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Finally, Sanford C. Bernstein assumed coverage on shares of Hubbell in a research report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $449.11.

Insiders Place Their Bets

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the business’s 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 sale, the insider now directly owns 2,957 shares of the company’s stock, valued at $1,378,553.40. The trade was a 27.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Hubbell Stock Down 0.7 %

HUBB stock opened at $460.55 on Wednesday. The firm has a market cap of $24.72 billion, a PE ratio of 33.18, a P/E/G ratio of 1.71 and a beta of 0.90. Hubbell Incorporated has a 12 month low of $293.91 and a 12 month high of $481.35. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. The firm has a 50 day simple moving average of $443.30 and a 200 day simple moving average of $403.08.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating analysts’ consensus estimates of $4.47 by $0.02. The company had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.95 EPS. Equities research analysts forecast that Hubbell Incorporated will post 16.47 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $1.32 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a yield of 1.15%. This is a boost from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio (DPR) is currently 38.04%.

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.