Premier Fund Managers Ltd Has $5.85 Million Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Premier Fund Managers Ltd grew its holdings in Hubbell Incorporated (NYSE:HUBB) by 5.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 13,650 shares of the industrial products company’s stock after purchasing an additional 750 shares during the quarter. Premier Fund Managers Ltd’s holdings in Hubbell were worth $5,851,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Mizuho Securities USA LLC lifted its holdings in Hubbell by 192,421.1% in the 3rd quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock worth $3,418,233,000 after purchasing an additional 7,975,855 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in shares of Hubbell by 42,735.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock worth $8,223,740,000 after buying an additional 1,915,383 shares during the period. Impax Asset Management Group plc grew its stake in Hubbell by 53.8% in the 2nd quarter. Impax Asset Management Group plc now owns 922,801 shares of the industrial products company’s stock valued at $336,984,000 after buying an additional 322,728 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Hubbell by 16.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock worth $743,970,000 after acquiring an additional 291,850 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its position in Hubbell by 16.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company’s stock worth $821,989,000 after acquiring an additional 286,134 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Wall Street Analyst Weigh In

HUBB has been the topic of several research analyst reports. Mizuho raised their price target on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Barclays raised their target price on Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft upgraded Hubbell from a “hold” rating to a “buy” rating and upped their price target for the stock from $431.00 to $441.00 in a report on Friday, September 6th. Wells Fargo & Company raised their price objective on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley upped their target price on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Hubbell has an average rating of “Moderate Buy” and a consensus price target of $445.56.

Hubbell Trading Up 1.6 %

Shares of Hubbell stock opened at $452.22 on Wednesday. Hubbell Incorporated has a 52-week low of $293.91 and a 52-week high of $481.35. The firm has a market capitalization of $24.27 billion, a PE ratio of 32.58, a price-to-earnings-growth ratio of 1.63 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 1.05. The company’s fifty day moving average price is $436.41 and its two-hundred day moving average price is $400.49.

Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, beating analysts’ consensus estimates of $4.47 by $0.02. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The firm’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 posted $3.95 earnings per share. On average, analysts expect that Hubbell Incorporated will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The business 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 annualized dividend and a yield of 1.17%. The ex-dividend date is Friday, November 29th. Hubbell’s dividend payout ratio is currently 35.16%.

Insider Buying and Selling at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the company’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 sale, the insider now directly owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. This represents a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.78% of the company’s stock.

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.