Covea Finance Has $42.49 Million Holdings in Hubbell Incorporated (NYSE:HUBB)

Covea Finance boosted its holdings in shares of Hubbell Incorporated (NYSE:HUBB - Free Report) by 187.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 99,200 shares of the industrial products company's stock after purchasing an additional 64,700 shares during the period. Hubbell comprises 1.9% of Covea Finance's portfolio, making the stock its 18th biggest holding. Covea Finance owned about 0.18% of Hubbell worth $42,492,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in HUBB. Vanguard Group Inc. increased its position in shares of Hubbell by 15.9% during the 4th quarter. Vanguard Group Inc. now owns 6,696,582 shares of the industrial products company's stock worth $2,202,707,000 after purchasing an additional 918,808 shares in the last quarter. Impax Asset Management Group plc boosted its holdings 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 worth $336,984,000 after acquiring an additional 322,728 shares in the last quarter. Bank of New York Mellon Corp grew its position in 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 acquiring an additional 291,850 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in 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 valued at $821,989,000 after purchasing an additional 286,134 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Hubbell by 52.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 397,321 shares of the industrial products company's stock valued at $130,691,000 after purchasing an additional 137,179 shares during the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

Hubbell Trading Up 3.0 %

Shares of HUBB stock traded up $13.12 during trading hours on Friday, reaching $456.57. The company had a trading volume of 326,409 shares, compared to its average volume of 447,486. Hubbell Incorporated has a 1-year low of $248.37 and a 1-year high of $457.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.81 and a quick ratio of 1.13. The firm has a market cap of $24.51 billion, a price-to-earnings ratio of 34.05, a P/E/G ratio of 1.67 and a beta of 0.90. The company has a 50 day moving average of $399.82 and a 200 day moving average of $392.08.

Hubbell (NYSE:HUBB - Get Free Report) last released its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share for the quarter, beating the consensus estimate of $4.24 by $0.13. The firm had revenue of $1.45 billion for the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The company's quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.07 earnings per share. On average, equities research analysts anticipate that Hubbell Incorporated will post 16.41 EPS for the current year.

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Friday, August 30th were issued a $1.22 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $4.88 annualized dividend and a yield of 1.07%. Hubbell's dividend payout ratio (DPR) is presently 36.39%.

Wall Street Analysts Forecast Growth

HUBB has been the topic of several research analyst reports. Wells Fargo & Company increased their target price on Hubbell from $400.00 to $445.00 and gave the stock an "equal weight" rating in a report on Monday, October 7th. Barclays boosted their target price on shares of Hubbell from $368.00 to $400.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 2nd. Stephens reissued an "overweight" rating and set a $450.00 price target on shares of Hubbell in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $431.00 to $441.00 in a research report on Friday, September 6th. Finally, Morgan Stanley started coverage on Hubbell in a research report on Friday, September 6th. They issued an "equal weight" rating and a $407.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Hubbell presently has an average rating of "Moderate Buy" and a consensus price target of $423.13.

Insider Transactions at Hubbell

In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of the business's stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total value of $164,043.00. Following the completion of the transaction, the director now directly owns 1,670 shares of the company's stock, valued at approximately $608,781.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Hubbell news, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total value of $164,043.00. Following the transaction, the director now owns 1,670 shares of the company's stock, valued at approximately $608,781.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gerben Bakker sold 15,677 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $374.34, for a total transaction of $5,868,528.18. Following the sale, the chief executive officer now directly owns 66,415 shares of the company's stock, valued at $24,861,791.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.66% of the company's stock.

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.