Dai ichi Life Insurance Company Ltd Has $1.07 Million Stake in Hubbell Incorporated (NYSE:HUBB)

Dai ichi Life Insurance Company Ltd decreased its holdings in Hubbell Incorporated (NYSE:HUBB) by 44.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 2,488 shares of the industrial products company’s stock after selling 2,000 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Hubbell were worth $1,066,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. IFG Advisory LLC acquired a new stake in Hubbell in the 2nd quarter worth about $475,000. Acadian Asset Management LLC raised its position 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 valued at $1,347,000 after buying an additional 1,252 shares in the last quarter. Great Valley Advisor Group Inc. raised its position in shares of 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 buying an additional 1,359 shares in the last quarter. LGT Capital Partners LTD. acquired a new position in shares of Hubbell in the 3rd quarter valued at approximately $39,687,000. Finally, DekaBank Deutsche Girozentrale raised its position in shares of Hubbell by 2.9% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 99,227 shares of the industrial products company’s stock valued at $40,731,000 after buying an additional 2,822 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Stock Down 0.4 %

Shares of NYSE HUBB opened at $458.81 on Thursday. The company has a market capitalization of $24.62 billion, a P/E ratio of 33.06, a price-to-earnings-growth ratio of 1.73 and a beta of 0.90. Hubbell Incorporated has a 52-week low of $293.91 and a 52-week high of $481.35. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. The company’s 50 day moving average price is $444.28 and its 200-day moving average price is $403.47.

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 analysts’ consensus estimates of $4.47 by $0.02. The firm 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 company earned $3.95 EPS. Equities analysts forecast that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Friday, November 29th. This is an increase from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s payout ratio is presently 35.16%.

Insider Activity at Hubbell

In related 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 transaction, the insider now owns 2,957 shares in the company, valued at $1,378,553.40. The trade was a 27.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.78% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

HUBB has been the subject of several analyst reports. Barclays boosted their target price on shares of Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a report on Monday. Mizuho lifted their price target on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft lowered shares of Hubbell from a “buy” rating to a “hold” rating and decreased their price target for the company from $493.00 to $473.00 in a report on Tuesday. Finally, Morgan Stanley lifted their price target on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $449.11.

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.