Unigestion Holding SA Takes $861,000 Position in Hubbell Incorporated (NYSE:HUBB)

Unigestion Holding SA bought a new stake in Hubbell Incorporated (NYSE:HUBB - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,010 shares of the industrial products company's stock, valued at approximately $861,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC raised its position in Hubbell by 257.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 11,344 shares of the industrial products company's stock worth $4,146,000 after acquiring an additional 8,168 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in shares of Hubbell by 38.3% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 2,253 shares of the industrial products company's stock worth $824,000 after purchasing an additional 624 shares during the period. Blue Trust Inc. increased its holdings in shares of Hubbell by 32.2% in the 2nd quarter. Blue Trust Inc. now owns 320 shares of the industrial products company's stock valued at $117,000 after purchasing an additional 78 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Hubbell by 18.5% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 64,404 shares of the industrial products company's stock valued at $23,538,000 after purchasing an additional 10,039 shares during the period. Finally, Milestone Asset Management LLC purchased a new stake in Hubbell during the second quarter worth about $894,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of the company's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the transaction, the insider now directly owns 2,957 shares in the company, 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 document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.66% of the company's stock.

Hubbell Price Performance

Shares of HUBB traded down $1.65 during trading hours on Thursday, reaching $455.35. 299,313 shares of the company traded hands, compared to its average volume of 439,164. The stock has a fifty day simple moving average of $451.38 and a 200 day simple moving average of $407.87. Hubbell Incorporated has a fifty-two week low of $311.38 and a fifty-two week high of $481.35. The stock has a market capitalization of $24.44 billion, a PE ratio of 32.81, a price-to-earnings-growth ratio of 1.72 and a beta of 0.91. 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 (NYSE:HUBB - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.47 by $0.02. The company 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 firm's revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the company earned $3.95 EPS. As a group, research analysts predict that Hubbell Incorporated will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend is Friday, November 29th. This is a positive change from Hubbell's previous quarterly dividend of $1.22. Hubbell's dividend payout ratio is currently 38.04%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Barclays increased their target price on shares of Hubbell from $402.00 to $475.00 and gave the company an "equal weight" rating in a report on Thursday, December 5th. Morgan Stanley raised their price objective on Hubbell from $407.00 to $445.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. StockNews.com downgraded Hubbell from a "buy" rating to a "hold" rating in a research report on Tuesday, December 3rd. Mizuho raised their price target on Hubbell from $450.00 to $490.00 and gave the company an "outperform" rating in a research report on Thursday, October 17th. Finally, Sanford C. Bernstein assumed coverage on Hubbell in a research note on Tuesday, November 5th. They set an "outperform" rating and a $535.00 price target for the company. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $472.13.

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.