Swiss National Bank Raises Position in Hubbell Incorporated (NYSE:HUBB)

Swiss National Bank lifted its position in Hubbell Incorporated (NYSE:HUBB) by 0.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 159,300 shares of the industrial products company’s stock after buying an additional 500 shares during the period. Swiss National Bank owned about 0.30% of Hubbell worth $68,236,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. IFG Advisory LLC bought a new position in Hubbell in the 2nd quarter valued at approximately $475,000. Acadian Asset Management LLC boosted its position in shares of Hubbell by 51.3% during the second quarter. Acadian Asset Management LLC now owns 3,693 shares of the industrial products company’s stock valued at $1,347,000 after buying an additional 1,252 shares during the last quarter. Great Valley Advisor Group Inc. increased its holdings 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 worth $2,511,000 after buying an additional 1,359 shares in the last quarter. DekaBank Deutsche Girozentrale raised 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 buying an additional 2,822 shares during the last quarter. Finally, Cetera Advisors LLC bought 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.

Insiders Place Their Bets

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the transaction, the insider now directly owns 2,957 shares in the company, valued at $1,378,553.40. This represents a 27.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.78% of the stock is currently owned by company insiders.

Hubbell Stock Up 1.6 %

NYSE HUBB opened at $452.22 on Wednesday. The stock’s 50-day moving average price is $436.41 and its 200-day moving average price is $400.49. The company has a market capitalization of $24.27 billion, a P/E ratio of 32.58, a price-to-earnings-growth ratio of 1.63 and a beta of 0.90. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. Hubbell Incorporated has a 52 week low of $293.91 and a 52 week high of $481.35.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, beating the consensus estimate of $4.47 by $0.02. The business had revenue of $1.44 billion for 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%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.95 earnings per share. On average, equities research analysts predict that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $1.32 dividend. The ex-dividend date is Friday, November 29th. This represents a $5.28 annualized dividend and a yield of 1.17%. This is an increase from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio is currently 35.16%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on HUBB shares. JPMorgan Chase & Co. lowered shares of Hubbell from an “overweight” rating to a “neutral” rating and lifted their price target for the stock from $385.00 to $454.00 in a research note on Thursday, October 10th. Wells Fargo & Company lifted their target price on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Stephens reissued an “overweight” rating and set a $450.00 price target on shares of Hubbell in a report on Friday, August 2nd. Sanford C. Bernstein assumed coverage on Hubbell in a report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price objective for the company. Finally, Morgan Stanley increased their target price on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $445.56.

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.