Temasek Holdings Private Ltd Invests $3.28 Million in Hubbell Incorporated (NYSE:HUBB)

Temasek Holdings Private Ltd purchased a new position in Hubbell Incorporated (NYSE:HUBB - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 7,661 shares of the industrial products company's stock, valued at approximately $3,282,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Mizuho Securities USA LLC boosted its holdings in shares of 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 valued at $3,418,233,000 after buying an additional 7,975,855 shares in the last quarter. State Street Corp boosted its stake in Hubbell by 1.1% in the third quarter. State Street Corp now owns 2,092,215 shares of the industrial products company's stock valued at $896,200,000 after acquiring an additional 22,507 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Hubbell by 16.7% in the second quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company's stock valued at $743,970,000 after buying an additional 291,850 shares during the last quarter. International Assets Investment Management LLC increased its holdings in Hubbell by 42,735.0% in 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. Finally, Massachusetts Financial Services Co. MA raised its position in Hubbell by 6.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,417,476 shares of the industrial products company's stock worth $607,176,000 after buying an additional 82,258 shares during the last quarter. 88.16% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value of $533,332.80. Following the transaction, the insider now directly owns 2,957 shares in the company, valued at approximately $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 can be accessed through this hyperlink. 0.66% of the stock is owned by company insiders.

Hubbell Stock Down 0.9 %

Shares of NYSE:HUBB traded down $4.19 during trading on Friday, hitting $462.93. 139,171 shares of the company were exchanged, compared to its average volume of 439,681. 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 firm's 50 day moving average price is $448.62 and its 200-day moving average price is $406.07. The stock has a market capitalization of $24.85 billion, a P/E ratio of 33.63, a PEG ratio of 1.70 and a beta of 0.91. Hubbell Incorporated has a 12-month low of $303.06 and a 12-month high of $481.35.

Hubbell (NYSE:HUBB - Get Free Report) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, topping 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 return on equity of 28.81% and a net margin of 13.33%. The business's revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.95 earnings per share. On average, research analysts predict that Hubbell Incorporated will post 16.47 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be given a $1.32 dividend. This is an increase 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 annualized dividend and a yield of 1.14%. Hubbell's dividend payout ratio is 38.04%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Morgan Stanley increased their price target on Hubbell from $407.00 to $445.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. Mizuho raised their target price on Hubbell from $450.00 to $490.00 and gave the stock an "outperform" rating in a report on Thursday, October 17th. Barclays boosted their price target on Hubbell from $402.00 to $475.00 and gave the company an "equal weight" rating in a report on Thursday. 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, Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a "buy" rating to a "hold" rating and decreased their target price for the company from $493.00 to $473.00 in a research note on Tuesday, November 26th. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Hubbell currently has an average rating of "Hold" and an average price target of $457.22.

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.