Daiwa Securities Group Inc. Boosts Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Daiwa Securities Group Inc. lifted its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 7.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 32,635 shares of the industrial products company’s stock after acquiring an additional 2,187 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Hubbell were worth $13,980,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. OLD National Bancorp IN boosted its stake in shares of Hubbell by 3.8% in the 3rd quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company’s stock valued at $255,000 after purchasing an additional 22 shares in the last quarter. CWM LLC boosted its position in Hubbell by 2.2% during the 2nd quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock valued at $482,000 after buying an additional 28 shares during the period. Detalus Advisors LLC boosted its position in Hubbell by 3.0% during the 2nd quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company’s stock valued at $377,000 after buying an additional 30 shares during the period. Ballentine Partners LLC boosted its position in Hubbell by 3.2% during the 3rd quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company’s stock valued at $410,000 after buying an additional 30 shares during the period. Finally, Savant Capital LLC boosted its position in Hubbell by 2.6% during the 2nd quarter. Savant Capital LLC now owns 1,205 shares of the industrial products company’s stock valued at $440,000 after buying an additional 31 shares during the period. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the completion of the sale, the insider now directly owns 2,957 shares in the company, valued at approximately $1,378,553.40. This trade represents a 27.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.78% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on HUBB shares. Wells Fargo & Company raised 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. JPMorgan Chase & Co. cut shares of Hubbell from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Sanford C. Bernstein started coverage on shares of Hubbell in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price for the company. Mizuho raised their target price on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Hubbell presently has an average rating of “Moderate Buy” and a consensus target price of $445.56.

Hubbell Stock Up 0.9 %

Shares of Hubbell stock opened at $460.81 on Monday. 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 company has a 50-day moving average of $441.22 and a 200 day moving average of $402.28. The firm has a market cap of $24.73 billion, a price-to-earnings ratio of 33.20, a PEG ratio of 1.71 and a beta of 0.90. Hubbell Incorporated has a 1 year low of $293.91 and a 1 year 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 (EPS) for the quarter, topping the consensus estimate of $4.47 by $0.02. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. Hubbell’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the business earned $3.95 EPS. As a group, sell-side analysts anticipate that Hubbell Incorporated will post 16.47 earnings per share for the current fiscal year.

Hubbell Increases Dividend

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