Banque Cantonale Vaudoise Raises Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Banque Cantonale Vaudoise lifted its stake in Hubbell Incorporated (NYSE:HUBB - Free Report) by 375.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,147 shares of the industrial products company's stock after buying an additional 6,433 shares during the period. Banque Cantonale Vaudoise's holdings in Hubbell were worth $3,490,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Mizuho Securities USA LLC increased its holdings in shares of 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 in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Hubbell by 16.7% during the 2nd 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 purchasing an additional 291,850 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Hubbell by 16.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company's stock worth $821,989,000 after purchasing an additional 286,134 shares during the period. 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. Finally, Massachusetts Financial Services Co. MA boosted its position in Hubbell by 3.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,335,218 shares of the industrial products company's stock valued at $487,995,000 after purchasing an additional 46,813 shares during the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a "hold" rating to a "buy" rating and increased their price objective for the company from $431.00 to $441.00 in a research report on Friday, September 6th. Mizuho boosted their price objective on Hubbell from $450.00 to $490.00 and gave the stock an "outperform" rating in a report on Thursday, October 17th. Morgan Stanley lifted their price target on Hubbell from $407.00 to $445.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. StockNews.com raised Hubbell from a "hold" rating to a "buy" rating in a report on Thursday, November 14th. Finally, Wells Fargo & Company increased their price objective on Hubbell from $445.00 to $455.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $445.56.

Insider Buying and Selling at Hubbell

In other Hubbell 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 value 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.78% of the company's stock.

Hubbell Price Performance

Shares of NYSE:HUBB traded down $6.79 during midday trading on Wednesday, hitting $445.58. The stock had a trading volume of 381,300 shares, compared to its average volume of 444,409. Hubbell Incorporated has a fifty-two week low of $293.91 and a fifty-two week high of $481.35. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. The company's 50-day moving average price is $437.86 and its 200-day moving average price is $401.00. The company has a market capitalization of $23.91 billion, a P/E ratio of 32.58, a price-to-earnings-growth ratio of 1.63 and a beta of 0.90.

Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, topping the consensus estimate of $4.47 by $0.02. The company had revenue of $1.44 billion for 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%. Hubbell's revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.95 earnings per share. As a group, equities research analysts predict that Hubbell Incorporated will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be issued a $1.32 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $5.28 annualized dividend and a yield of 1.18%. This is a positive change from Hubbell's previous quarterly dividend of $1.22. Hubbell's dividend payout ratio is presently 35.16%.

Hubbell Company 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.