Daiwa Securities Group Inc. Acquires 2,187 Shares of Hubbell Incorporated (NYSE:HUBB)

Daiwa Securities Group Inc. increased its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 7.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 32,635 shares of the industrial products company’s stock after buying an additional 2,187 shares during the quarter. Daiwa Securities Group Inc. owned 0.06% of Hubbell worth $13,980,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of HUBB. EP Wealth Advisors LLC bought a new stake in shares of Hubbell during the 1st quarter worth $252,000. Lazard Asset Management LLC raised its position in Hubbell by 85.3% in the first quarter. Lazard Asset Management LLC now owns 1,781 shares of the industrial products company’s stock valued at $739,000 after purchasing an additional 820 shares during the last quarter. Mount Yale Investment Advisors LLC raised its position in Hubbell by 10.0% in the first quarter. Mount Yale Investment Advisors LLC now owns 703 shares of the industrial products company’s stock valued at $292,000 after purchasing an additional 64 shares during the last quarter. Janus Henderson Group PLC raised its position in Hubbell by 6.5% in the first quarter. Janus Henderson Group PLC now owns 6,586 shares of the industrial products company’s stock valued at $2,731,000 after purchasing an additional 403 shares during the last quarter. Finally, Interval Partners LP raised its position in Hubbell by 222.4% in the first quarter. Interval Partners LP now owns 63,077 shares of the industrial products company’s stock valued at $26,180,000 after purchasing an additional 43,511 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on HUBB. Morgan Stanley increased their target price on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Barclays raised their target price on Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. 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, Mizuho raised their target price on Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $445.56.

Hubbell Trading Up 0.9 %

Shares of Hubbell stock opened at $460.81 on Monday. 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 stock has a 50 day moving average price of $441.22 and a two-hundred day moving average price of $402.28. The stock has a market capitalization of $24.73 billion, a PE ratio of 33.20, a price-to-earnings-growth ratio of 1.71 and a beta of 0.90.

Hubbell (NYSE:HUBB) last announced 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. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The business had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter in the prior year, the company posted $3.95 earnings per share. Hubbell’s revenue was up 4.9% compared to the same quarter last year. As a group, equities analysts anticipate that Hubbell Incorporated will post 16.47 earnings per share for the current fiscal year.

Hubbell Increases Dividend

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

Insiders Place Their Bets

In other news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s 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 of the company’s stock, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.78% of the stock is currently owned by insiders.

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.