Impax Asset Management Group plc Boosts Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Impax Asset Management Group plc lifted its holdings in Hubbell Incorporated (NYSE:HUBB) by 30.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,202,455 shares of the industrial products company’s stock after acquiring an additional 279,654 shares during the period. Hubbell accounts for approximately 2.0% of Impax Asset Management Group plc’s holdings, making the stock its 8th biggest holding. Impax Asset Management Group plc owned 2.24% of Hubbell worth $514,377,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Arlington Capital Management Inc. bought a new position in Hubbell during the third quarter valued at $651,000. Vestor Capital LLC grew its holdings in Hubbell by 100.0% during the 3rd quarter. Vestor Capital LLC now owns 4,126 shares of the industrial products company’s stock valued at $1,767,000 after purchasing an additional 2,063 shares during the last quarter. BSW Wealth Partners purchased a new stake in Hubbell in the 3rd quarter worth about $210,000. Van ECK Associates Corp lifted its stake in Hubbell by 11.0% in the third quarter. Van ECK Associates Corp now owns 9,741 shares of the industrial products company’s stock worth $4,332,000 after purchasing an additional 966 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in shares of Hubbell by 5.2% during the third quarter. Janney Montgomery Scott LLC now owns 12,917 shares of the industrial products company’s stock valued at $5,533,000 after buying an additional 640 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Mizuho raised their price target on Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Morgan Stanley lifted their target price on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. downgraded shares of Hubbell from an “overweight” rating to a “neutral” rating and raised their price target for the stock from $385.00 to $454.00 in a research note on Thursday, October 10th. Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a “hold” rating to a “buy” rating and boosted their price objective for the company from $431.00 to $441.00 in a research report on Friday, September 6th. Finally, Wells Fargo & Company boosted their price target on Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $434.38.

Insider Buying and Selling

In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total value of $164,043.00. Following the completion of the sale, the director now owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Gerben Bakker sold 15,677 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $374.34, for a total value of $5,868,528.18. Following the transaction, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total value of $164,043.00. Following the sale, the director now directly owns 1,670 shares of the company’s stock, valued at $608,781.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

Hubbell Stock Up 0.3 %

NYSE HUBB traded up $1.41 during midday trading on Monday, hitting $427.11. 74,261 shares of the company traded hands, compared to its average volume of 441,167. The company has a market cap of $22.93 billion, a PE ratio of 30.67, a price-to-earnings-growth ratio of 1.59 and a beta of 0.90. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.13. Hubbell Incorporated has a 52 week low of $274.42 and a 52 week high of $461.77. The company’s 50-day simple moving average is $421.70 and its 200-day simple moving average is $395.81.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, topping analysts’ consensus estimates of $4.47 by $0.02. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. During the same period in the previous year, the company posted $3.95 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. As a group, equities research analysts forecast that Hubbell Incorporated will post 16.46 earnings per share for the current year.

Hubbell Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a $1.32 dividend. This is a boost 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 dividend yield of 1.24%. Hubbell’s dividend payout ratio (DPR) is presently 35.16%.

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.