Hubbell Incorporated (NYSE:HUBB) is Mizuho Securities USA LLC's 3rd Largest Position

Mizuho Securities USA LLC grew its stake in Hubbell Incorporated (NYSE:HUBB - Free Report) by 192,421.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,980,000 shares of the industrial products company's stock after purchasing an additional 7,975,855 shares during the period. Hubbell makes up about 8.9% of Mizuho Securities USA LLC's holdings, making the stock its 3rd largest holding. Mizuho Securities USA LLC owned approximately 14.87% of Hubbell worth $3,418,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in HUBB. International Assets Investment Management LLC boosted its holdings in Hubbell by 42,735.0% in the 3rd 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. Impax Asset Management Group plc lifted its stake in shares of Hubbell by 53.8% in the 2nd 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 during the last quarter. Bank of New York Mellon Corp increased its position 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 worth $743,970,000 after purchasing an additional 291,850 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Hubbell by 16.9% during 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 last quarter. Finally, Ceredex Value Advisors LLC lifted its position in Hubbell by 60.9% in the second quarter. Ceredex Value Advisors LLC now owns 204,720 shares of the industrial products company's stock valued at $74,821,000 after buying an additional 77,500 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company's stock.

Insider Buying and Selling at Hubbell

In other news, insider Mark Eugene Mikes sold 1,144 shares of the business's stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the transaction, the insider now directly owns 2,957 shares in the company, valued at $1,378,553.40. The trade was a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.66% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on HUBB shares. Barclays boosted their target price on Hubbell from $400.00 to $402.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. Mizuho raised 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. Morgan Stanley boosted their price target 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. Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a "hold" rating to a "buy" rating and raised their price objective for the company from $431.00 to $441.00 in a research note on Friday, September 6th. Finally, Wells Fargo & Company upped their target price on shares of Hubbell from $445.00 to $455.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $445.56.

Hubbell Stock Performance

HUBB traded down $2.48 during trading on Friday, hitting $437.61. 403,882 shares of the stock were exchanged, compared to its average volume of 444,075. 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 $287.06 and a 1-year high of $481.35. The stock has a fifty day moving average price of $435.08 and a two-hundred day moving average price of $399.60. The firm has a market capitalization of $23.49 billion, a P/E ratio of 31.53, a PEG ratio of 1.69 and a beta of 0.90.

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 given a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.21%. The ex-dividend date is Friday, November 29th. This is a boost from Hubbell's previous quarterly dividend of $1.22. Hubbell's payout ratio is 35.16%.

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.