Hubbell Incorporated (NYSE:HUBB) Holdings Increased by Impax Asset Management Group plc

Impax Asset Management Group plc raised its stake in Hubbell Incorporated (NYSE:HUBB) by 30.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,202,455 shares of the industrial products company’s stock after acquiring an additional 279,654 shares during the quarter. Hubbell makes up approximately 2.0% of Impax Asset Management Group plc’s investment portfolio, making the stock its 8th largest position. Impax Asset Management Group plc’s holdings in Hubbell were worth $514,377,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of HUBB. OLD National Bancorp IN raised its holdings in Hubbell by 3.8% in the 3rd quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company’s stock worth $255,000 after purchasing an additional 22 shares during the period. CWM LLC lifted its position in shares of Hubbell by 2.2% during the 2nd quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock valued at $482,000 after buying an additional 28 shares in the last quarter. Meeder Advisory Services Inc. grew its stake in Hubbell by 3.8% in the 1st quarter. Meeder Advisory Services Inc. now owns 816 shares of the industrial products company’s stock valued at $339,000 after acquiring an additional 30 shares during the period. Detalus Advisors LLC increased its holdings in Hubbell by 3.0% in the 2nd quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company’s stock worth $377,000 after acquiring an additional 30 shares in the last quarter. Finally, Ballentine Partners LLC raised its position in Hubbell by 3.2% during the third quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company’s stock worth $410,000 after acquiring an additional 30 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Trading Up 0.3 %

Shares of Hubbell stock traded up $1.41 during trading hours on Monday, hitting $427.11. The company’s stock had a trading volume of 74,261 shares, compared to its average volume of 441,167. The firm has a fifty day moving average of $421.70 and a 200-day moving average of $395.81. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.13 and a current ratio of 1.66. The stock has a market cap of $22.93 billion, a price-to-earnings ratio of 30.67, a P/E/G ratio of 1.59 and a beta of 0.90. Hubbell Incorporated has a twelve month low of $274.42 and a twelve month high of $461.77.

Hubbell (NYSE:HUBB) last announced its quarterly 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 during 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 business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the business earned $3.95 earnings per share. Research analysts forecast that Hubbell Incorporated will post 16.46 EPS for the current year.

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $1.32 dividend. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend is Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a yield of 1.24%. Hubbell’s payout ratio is presently 35.16%.

Insiders Place Their Bets

In other news, CEO Gerben Bakker sold 15,677 shares of Hubbell stock in a transaction on Friday, August 9th. The stock was sold at an average price of $374.34, for a total value of $5,868,528.18. Following the completion of the sale, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Gerben Bakker sold 15,677 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $374.34, for a total value of $5,868,528.18. Following the completion of the transaction, the chief executive officer now owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Carlos M. Cardoso sold 450 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total transaction of $164,043.00. Following the sale, the director now directly owns 1,670 shares in the company, valued at approximately $608,781.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by insiders.

Analyst Ratings Changes

HUBB has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on shares of Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Stephens reaffirmed an “overweight” rating and issued a $450.00 price target on shares of Hubbell in a research note on Friday, August 2nd. JPMorgan Chase & Co. downgraded Hubbell from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $385.00 to $454.00 in a research note on Thursday, October 10th. Barclays lifted their target price on shares of Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Mizuho raised their price target on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Hubbell currently has an average rating of “Moderate Buy” and a consensus price target of $434.38.

Hubbell 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.