DekaBank Deutsche Girozentrale Increases Position in Hubbell Incorporated (HUBB)

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DekaBank Deutsche Girozentrale boosted its stake in Hubbell Incorporated (NYSE:HUBB) by 12.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 6,500 shares of the industrial products company’s stock after buying an additional 730 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Hubbell were worth $815,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in HUBB. Valeo Financial Advisors LLC grew its stake in Hubbell by 156.4% in the 3rd quarter. Valeo Financial Advisors LLC now owns 1,164 shares of the industrial products company’s stock valued at $118,000 after buying an additional 710 shares during the last quarter. Penserra Capital Management LLC acquired a new position in shares of Hubbell during the 3rd quarter worth approximately $149,000. Cerebellum GP LLC acquired a new position in shares of Hubbell during the 3rd quarter worth approximately $183,000. Palo Capital Inc. acquired a new position in shares of Hubbell during the 3rd quarter worth approximately $184,000. Finally, Cornerstone Wealth Management LLC acquired a new position in shares of Hubbell during the 2nd quarter worth approximately $210,000. Institutional investors and hedge funds own 86.41% of the company’s stock.

Shares of NYSE:HUBB opened at $104.02 on Friday. Hubbell Incorporated has a 12-month low of $97.02 and a 12-month high of $149.03. The company has a market cap of $5.81 billion, a price-to-earnings ratio of 17.54, a price-to-earnings-growth ratio of 1.46 and a beta of 1.37. The company has a current ratio of 1.88, a quick ratio of 1.16 and a debt-to-equity ratio of 1.01.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, October 23rd. The industrial products company reported $2.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.11 by $0.11. Hubbell had a net margin of 6.88% and a return on equity of 23.08%. The firm had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.17 billion. During the same quarter in the prior year, the business posted $1.65 EPS. The business’s revenue was up 24.1% compared to the same quarter last year. Equities analysts expect that Hubbell Incorporated will post 7.26 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Friday, November 30th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.23%. The ex-dividend date of this dividend is Thursday, November 29th. This is a positive change from Hubbell’s previous quarterly dividend of $0.77. Hubbell’s dividend payout ratio is presently 56.66%.

A number of research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Hubbell from a “hold” rating to a “buy” rating and set a $147.00 target price on the stock in a research report on Thursday, October 4th. Morgan Stanley assumed coverage on shares of Hubbell in a research report on Tuesday, August 21st. They set an “overweight” rating and a $133.00 target price on the stock. ValuEngine upgraded shares of Hubbell from a “sell” rating to a “hold” rating in a research report on Tuesday, August 14th. Finally, Wolfe Research upgraded shares of Hubbell to a “buy” rating and set a $131.00 target price on the stock in a research report on Wednesday, October 24th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $137.83.

In other news, Director John F. Malloy purchased 994 shares of Hubbell stock in a transaction that occurred on Friday, October 26th. The shares were acquired at an average price of $100.82 per share, for a total transaction of $100,215.08. Following the transaction, the director now owns 13,020 shares of the company’s stock, valued at approximately $1,312,676.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Neal J. Keating purchased 1,000 shares of Hubbell stock in a transaction that occurred on Monday, October 29th. The shares were purchased at an average price of $101.55 per share, for a total transaction of $101,550.00. Following the transaction, the director now directly owns 6,971 shares in the company, valued at approximately $707,905.05. The disclosure for this purchase can be found here. Corporate insiders own 0.69% of the company’s stock.

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Hubbell Company Profile

Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, 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 for the natural gas distribution market.

Further Reading: Depreciation

Institutional Ownership by Quarter for Hubbell (NYSE:HUBB)

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