LGT Capital Partners LTD. Acquires New Holdings in Hubbell Incorporated (NYSE:HUBB)

LGT Capital Partners LTD. purchased a new position in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 92,650 shares of the industrial products company's stock, valued at approximately $39,687,000. Hubbell makes up 1.4% of LGT Capital Partners LTD.'s investment portfolio, making the stock its 26th biggest position. LGT Capital Partners LTD. owned approximately 0.17% of Hubbell at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. OLD National Bancorp IN grew its holdings in shares of Hubbell by 3.8% during the third quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company's stock worth $255,000 after buying an additional 22 shares in the last quarter. CWM LLC grew its holdings in Hubbell by 2.2% during the 2nd quarter. CWM LLC now owns 1,319 shares of the industrial products company's stock worth $482,000 after acquiring an additional 28 shares in the last quarter. Detalus Advisors LLC boosted its holdings in shares of Hubbell by 3.0% in the second quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company's stock valued at $377,000 after acquiring an additional 30 shares during the period. Ballentine Partners LLC lifted its position in Hubbell by 3.2% during the 3rd 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. Finally, Savant Capital LLC grew its stake in shares of Hubbell by 2.6% in the 2nd quarter. Savant Capital LLC now owns 1,205 shares of the industrial products company's stock valued at $440,000 after purchasing an additional 31 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company's stock.

Hubbell Stock Performance

Shares of NYSE:HUBB traded up $9.42 on Tuesday, hitting $454.35. The company's stock had a trading volume of 284,410 shares, compared to its average volume of 443,838. Hubbell Incorporated has a 12 month low of $293.91 and a 12 month high of $481.35. The stock's 50-day moving average is $436.41 and its two-hundred day moving average is $400.49. 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 company has a market capitalization of $24.38 billion, a price-to-earnings ratio of 32.31, a price-to-earnings-growth ratio of 1.63 and a beta of 0.90.

Hubbell (NYSE:HUBB - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.44 billion during the quarter, compared to analysts' expectations of $1.48 billion. During the same period last year, the firm posted $3.95 earnings per share. The business's revenue was up 4.9% on a year-over-year basis. On average, equities research analysts forecast that Hubbell Incorporated will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be given a dividend of $1.32 per share. This is a positive change from Hubbell's previous quarterly dividend of $1.22. This represents a $5.28 annualized dividend and a dividend yield of 1.16%. The ex-dividend date of this dividend is Friday, November 29th. Hubbell's payout ratio is 35.16%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Morgan Stanley upped their price objective on Hubbell from $407.00 to $445.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Wells Fargo & Company lifted their price objective on Hubbell from $445.00 to $455.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Mizuho upped their target price on Hubbell from $450.00 to $490.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. Barclays lifted their price target on Hubbell from $400.00 to $402.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. Finally, StockNews.com upgraded shares of Hubbell from a "hold" rating to a "buy" rating in a report on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Hubbell presently has a consensus rating of "Moderate Buy" and a consensus target price of $445.56.

Insider Activity at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction dated 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 owns 2,957 shares of the company's stock, valued at approximately $1,378,553.40. This represents a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.78% of the stock is currently owned by insiders.

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.