Mirae Asset Global Investments Co. Ltd. Acquires 1,325 Shares of Hubbell Incorporated (NYSE:HUBB)

Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 37.2% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 4,887 shares of the industrial products company's stock after purchasing an additional 1,325 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Hubbell were worth $2,067,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of Hubbell by 84.7% during the 3rd quarter. GAMMA Investing LLC now owns 157 shares of the industrial products company's stock valued at $67,000 after purchasing an additional 72 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of Hubbell by 54.4% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,578 shares of the industrial products company's stock worth $676,000 after buying an additional 556 shares in the last quarter. Valeo Financial Advisors LLC purchased a new stake in shares of Hubbell in the third quarter worth $341,000. Exchange Traded Concepts LLC raised its position in shares of Hubbell by 66.7% in the third quarter. Exchange Traded Concepts LLC now owns 6,891 shares of the industrial products company's stock worth $2,952,000 after buying an additional 2,757 shares in the last quarter. Finally, Creative Planning raised its position in shares of Hubbell by 19.3% in the third quarter. Creative Planning now owns 4,144 shares of the industrial products company's stock worth $1,775,000 after buying an additional 671 shares in the last quarter. Institutional investors own 88.16% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on HUBB. Barclays increased their price objective on Hubbell from $402.00 to $475.00 and gave the stock an "equal weight" rating in a research report on Thursday, December 5th. Morgan Stanley increased their price objective 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 increased 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. Wells Fargo & Company lowered their price objective on Hubbell from $455.00 to $450.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 7th. Finally, Deutsche Bank Aktiengesellschaft downgraded Hubbell from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $493.00 to $473.00 in a research report on Tuesday, November 26th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $471.50.

Hubbell Trading Down 0.8 %

Shares of NYSE:HUBB traded down $3.30 on Friday, reaching $389.93. 655,543 shares of the company traded hands, compared to its average volume of 637,858. The business's 50-day simple moving average is $427.95 and its 200 day simple moving average is $423.00. Hubbell Incorporated has a 52 week low of $346.13 and a 52 week high of $481.35. The stock has a market capitalization of $20.93 billion, a P/E ratio of 27.15, a price-to-earnings-growth ratio of 1.36 and a beta of 0.92. The company has a current ratio of 1.64, a quick ratio of 1.05 and a debt-to-equity ratio of 0.44.

Hubbell (NYSE:HUBB - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The industrial products company reported $4.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.02 by $0.08. Hubbell had a return on equity of 28.62% and a net margin of 13.82%. The firm had revenue of $1.33 billion for the quarter, compared to analysts' expectations of $1.41 billion. During the same period last year, the firm earned $3.69 earnings per share. The company's revenue for the quarter was down .9% compared to the same quarter last year. As a group, equities analysts anticipate that Hubbell Incorporated will post 17.63 EPS for the current fiscal year.

Hubbell declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 12th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the industrial products company to repurchase up to 2.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's management believes its shares are undervalued.

Hubbell Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Friday, February 28th will be paid a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, February 28th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.35%. Hubbell's dividend payout ratio (DPR) is currently 36.77%.

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.