Czech National Bank Raises Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Czech National Bank grew its holdings in Hubbell Incorporated (NYSE:HUBB - Free Report) by 6.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,637 shares of the industrial products company's stock after acquiring an additional 702 shares during the period. Czech National Bank's holdings in Hubbell were worth $4,875,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. Envestnet Asset Management Inc. lifted its position in shares of Hubbell by 7.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 69,492 shares of the industrial products company's stock worth $25,398,000 after purchasing an additional 5,037 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Hubbell by 6.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 376,518 shares of the industrial products company's stock worth $137,622,000 after purchasing an additional 22,951 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Hubbell during the 2nd quarter worth $2,781,000. Mercer Global Advisors Inc. ADV lifted its position in shares of Hubbell by 2.6% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 11,578 shares of the industrial products company's stock worth $4,232,000 after purchasing an additional 297 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its position in shares of Hubbell by 6.8% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 8,584 shares of the industrial products company's stock worth $3,130,000 after purchasing an additional 543 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company's stock.

Hubbell Stock Performance

Hubbell stock traded up $4.87 during trading hours on Thursday, reaching $433.80. 444,928 shares of the stock were exchanged, compared to its average volume of 459,821. Hubbell Incorporated has a 52-week low of $319.06 and a 52-week high of $481.35. The stock has a market cap of $23.28 billion, a P/E ratio of 31.25, a P/E/G ratio of 1.45 and a beta of 0.93. 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 firm's 50 day moving average is $443.81 and its 200 day moving average is $416.35.

Hubbell (NYSE:HUBB - Get Free Report) last posted 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 net margin of 13.33% and a return on equity of 28.81%. The firm had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.48 billion. During the same period in the prior year, the company posted $3.95 earnings per share. The firm's revenue for the quarter was up 4.9% on a year-over-year basis. 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 was paid on Monday, December 16th. Investors of record on Friday, November 29th were issued a $1.32 dividend. The ex-dividend date was Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.22%. This is a boost from Hubbell's previous quarterly dividend of $1.22. Hubbell's dividend payout ratio is currently 38.04%.

Insiders Place Their Bets

In other news, insider Mark Eugene Mikes sold 1,144 shares of the company'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 sale, the insider now directly owns 2,957 shares in the company, valued at $1,378,553.40. This represents a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.78% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

HUBB has been the subject of several recent analyst reports. Wells Fargo & Company decreased their price objective on shares of Hubbell from $455.00 to $450.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 7th. Sanford C. Bernstein began coverage on Hubbell in a report on Tuesday, November 5th. They set an "outperform" rating and a $535.00 price objective on the stock. Deutsche Bank Aktiengesellschaft cut Hubbell from a "buy" rating to a "hold" rating and cut their target price for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. JPMorgan Chase & Co. cut Hubbell from an "overweight" rating to a "neutral" rating and upped their target price for the company from $385.00 to $454.00 in a research report on Thursday, October 10th. Finally, Barclays boosted their price objective on Hubbell from $402.00 to $475.00 and gave the company an "equal weight" rating in a research note on Thursday, December 5th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Hubbell presently has an average rating of "Hold" and a consensus price target of $471.50.

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.