Vontobel Holding Ltd. Has $31.02 Million Position in Hubbell Incorporated (NYSE:HUBB)

Vontobel Holding Ltd. lifted its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 9,720.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 74,048 shares of the industrial products company’s stock after acquiring an additional 73,294 shares during the period. Vontobel Holding Ltd. owned 0.14% of Hubbell worth $31,018,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Mizuho Securities USA LLC raised its holdings in Hubbell by 192,421.1% during the third quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock worth $3,418,233,000 after buying an additional 7,975,855 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Hubbell by 42,735.0% in the third quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock valued at $8,223,740,000 after purchasing an additional 1,915,383 shares during the last quarter. Impax Asset Management Group plc raised its holdings in shares of Hubbell by 30.3% in the third quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock valued at $514,377,000 after purchasing an additional 279,654 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Hubbell by 268.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 231,130 shares of the industrial products company’s stock valued at $99,005,000 after purchasing an additional 168,380 shares during the last quarter. Finally, LGT Capital Partners LTD. purchased a new stake in shares of Hubbell in the third quarter valued at about $39,687,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on HUBB. Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a “buy” rating to a “hold” rating and lowered their target price for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Barclays increased their target price on shares of Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a report on Thursday, December 5th. Morgan Stanley increased their price target on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Sanford C. Bernstein assumed coverage on shares of Hubbell in a research report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price target for the company. Finally, StockNews.com lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Tuesday, January 28th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Hubbell currently has a consensus rating of “Hold” and an average price target of $471.50.

Hubbell Trading Down 0.8 %

Shares of Hubbell stock opened at $389.93 on Friday. Hubbell Incorporated has a 12-month low of $346.13 and a 12-month high of $481.35. The company has a market cap of $20.93 billion, a price-to-earnings ratio of 27.15, a PEG ratio of 1.36 and a beta of 0.92. The company has a current ratio of 1.64, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44. The company’s 50-day moving average price is $427.95 and its 200-day moving average price is $423.00.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.02 by $0.08. Hubbell had a net margin of 13.82% and a return on equity of 28.62%. The firm had revenue of $1.33 billion for the quarter, compared to the consensus estimate of $1.41 billion. During the same period in the prior year, the firm posted $3.69 earnings per share. The company’s revenue for the quarter was down .9% on a year-over-year basis. On average, equities analysts expect that Hubbell Incorporated will post 17.63 earnings per share for the current fiscal year.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Friday, February 28th. Hubbell’s payout ratio is 36.77%.

Hubbell announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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.