Impax Asset Management Group plc Has $514.38 Million Stock Position in Hubbell Incorporated (NYSE:HUBB)

Impax Asset Management Group plc lifted its holdings in Hubbell Incorporated (NYSE:HUBB - Free Report) by 30.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,202,455 shares of the industrial products company's stock after purchasing an additional 279,654 shares during the quarter. Hubbell comprises 2.0% of Impax Asset Management Group plc's holdings, making the stock its 8th biggest position. Impax Asset Management Group plc owned approximately 2.24% of Hubbell worth $514,377,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Hubbell by 7.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,176 shares of the industrial products company's stock worth $1,318,000 after buying an additional 212 shares in the last quarter. Norden Group LLC bought a new position in shares of Hubbell during the 1st quarter worth approximately $261,000. First Trust Direct Indexing L.P. grew its stake in shares of Hubbell by 15.5% during the 1st quarter. First Trust Direct Indexing L.P. now owns 914 shares of the industrial products company's stock worth $379,000 after acquiring an additional 123 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Hubbell by 124.6% in the first quarter. BNP Paribas Financial Markets now owns 63,831 shares of the industrial products company's stock valued at $26,493,000 after purchasing an additional 35,407 shares during the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in shares of Hubbell by 4.0% in the first quarter. Janney Montgomery Scott LLC now owns 12,710 shares of the industrial products company's stock worth $5,276,000 after purchasing an additional 488 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company's stock.

Insider Activity

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on HUBB shares. Morgan Stanley lifted their price target on shares of Hubbell from $407.00 to $445.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Stephens reissued an "overweight" rating and issued a $450.00 price objective on shares of Hubbell in a report on Friday, August 2nd. Barclays boosted their target price on shares of Hubbell from $400.00 to $402.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a "hold" rating to a "buy" rating and increased their price target 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 company an "equal weight" rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $434.38.

Hubbell Stock Performance

Shares of NYSE:HUBB traded down $0.78 during trading on Monday, reaching $424.92. 332,940 shares of the stock were exchanged, compared to its average volume of 442,426. The firm has a market cap of $22.81 billion, a PE ratio of 30.56, a PEG ratio of 1.59 and a beta of 0.90. The company has a current ratio of 1.66, a quick ratio of 1.13 and a debt-to-equity ratio of 0.51. The stock has a 50-day moving average price of $421.70 and a 200-day moving average price of $395.81. Hubbell Incorporated has a 12 month low of $274.42 and a 12 month high of $461.77.

Hubbell (NYSE:HUBB - Get Free Report) last issued its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share for the quarter, beating analysts' consensus estimates of $4.47 by $0.02. The firm had revenue of $1.44 billion for the quarter, compared to analyst estimates 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 quarter last year, the business posted $3.95 earnings per share. Research analysts expect that Hubbell Incorporated will post 16.46 EPS for the current fiscal year.

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a $1.32 dividend. The ex-dividend date of this dividend is Friday, November 29th. This is an increase from Hubbell's previous quarterly dividend of $1.22. This represents a $5.28 annualized dividend and a yield of 1.24%. Hubbell's dividend payout ratio (DPR) is currently 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.