Hubbell Incorporated (NYSE:HUBB) Stock Position Increased by Premier Fund Managers Ltd

Premier Fund Managers Ltd increased its holdings in Hubbell Incorporated (NYSE:HUBB) by 5.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,650 shares of the industrial products company’s stock after buying an additional 750 shares during the quarter. Premier Fund Managers Ltd’s holdings in Hubbell were worth $5,851,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in HUBB. OLD National Bancorp IN grew its stake in shares of Hubbell by 3.8% in the third quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company’s stock worth $255,000 after purchasing an additional 22 shares in the last quarter. CWM LLC grew its position in Hubbell by 2.2% in 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 in the last quarter. Detalus Advisors LLC increased its stake 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 raised its position in shares of Hubbell by 3.2% during the 3rd quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company’s stock worth $410,000 after buying an additional 30 shares in the last quarter. Finally, Savant Capital LLC lifted its stake in shares of Hubbell by 2.6% in the 2nd quarter. Savant Capital LLC now owns 1,205 shares of the industrial products company’s stock worth $440,000 after acquiring an additional 31 shares during the period. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Price Performance

NYSE HUBB opened at $452.22 on Wednesday. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. Hubbell Incorporated has a 1 year low of $293.91 and a 1 year high of $481.35. The company has a market cap of $24.27 billion, a PE ratio of 32.58, a PEG ratio of 1.63 and a beta of 0.90. The stock’s 50-day moving average price is $436.41 and its two-hundred day moving average price is $400.49.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data 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. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.48 billion. During the same quarter last year, the business posted $3.95 EPS. The company’s revenue was up 4.9% on a year-over-year basis. On average, analysts predict that Hubbell Incorporated will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The business also recently declared 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 represents a $5.28 dividend on an annualized basis and a dividend yield of 1.17%. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date is Friday, November 29th. Hubbell’s dividend payout ratio is 35.16%.

Insider Buying and Selling

In related news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction on Thursday, November 7th. The stock was 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.78% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

HUBB has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and raised their price objective for the company from $431.00 to $441.00 in a research note on Friday, September 6th. Sanford C. Bernstein started coverage on Hubbell in a research report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price target on the stock. Mizuho upped their price objective on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Stephens reaffirmed an “overweight” rating and set a $450.00 target price on shares of Hubbell in a research note on Friday, August 2nd. Finally, StockNews.com upgraded 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 issued a buy rating to the company. Based on data from MarketBeat, Hubbell presently has a consensus rating of “Moderate Buy” and a consensus target price of $445.56.

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.