Royal London Asset Management Ltd. Raises Holdings in Hubbell Incorporated (NYSE:HUBB)

Royal London Asset Management Ltd. boosted its stake in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 4.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,110 shares of the industrial products company's stock after buying an additional 1,265 shares during the quarter. Royal London Asset Management Ltd. owned 0.05% of Hubbell worth $11,613,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in HUBB. Mizuho Securities USA LLC boosted its holdings in Hubbell by 192,421.1% during 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 acquiring an additional 7,975,855 shares during the period. International Assets Investment Management LLC boosted its stake 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 period. Impax Asset Management Group plc grew its holdings in shares of Hubbell by 53.8% in the second quarter. Impax Asset Management Group plc now owns 922,801 shares of the industrial products company's stock valued at $336,984,000 after purchasing an additional 322,728 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Hubbell by 16.7% in 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 buying an additional 291,850 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Hubbell by 268.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 231,130 shares of the industrial products company's stock worth $99,005,000 after purchasing an additional 168,380 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on HUBB. Deutsche Bank Aktiengesellschaft cut shares of Hubbell from a "buy" rating to a "hold" rating and reduced their target price for the company from $493.00 to $473.00 in a report on Tuesday, November 26th. Morgan Stanley boosted their target price on shares of Hubbell from $407.00 to $445.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. Barclays raised their price target on Hubbell from $402.00 to $475.00 and gave the company an "equal weight" rating in a research note on Thursday. Mizuho upped their price objective on Hubbell from $450.00 to $490.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. Finally, Wells Fargo & Company boosted their target price on Hubbell from $445.00 to $455.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Hubbell has a consensus rating of "Hold" and a consensus price target of $457.22.

Hubbell Stock Performance

HUBB traded down $5.15 during trading on Friday, hitting $461.97. 429,490 shares of the stock were exchanged, compared to its average volume of 395,754. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. Hubbell Incorporated has a 1-year low of $303.06 and a 1-year high of $481.35. The stock has a fifty day moving average price of $449.29 and a two-hundred day moving average price of $406.54. The firm has a market capitalization of $24.79 billion, a P/E ratio of 33.28, a PEG ratio of 1.75 and a beta of 0.91.

Hubbell (NYSE:HUBB - Get Free Report) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating 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 net margin of 13.33% and a return on equity of 28.81%. The company's quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $3.95 EPS. As a group, sell-side analysts predict that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $1.32 per share. The ex-dividend date is Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.14%. This is a positive change from Hubbell's previous quarterly dividend of $1.22. Hubbell's dividend payout ratio (DPR) is currently 38.04%.

Insider Activity at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total transaction 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.66% of the stock is currently owned by insiders.

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.