Hubbell Incorporated (NYSE:HUBB) Holdings Increased by Van ECK Associates Corp

Van ECK Associates Corp increased its stake in Hubbell Incorporated (NYSE:HUBB) by 11.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,741 shares of the industrial products company’s stock after acquiring an additional 966 shares during the period. Van ECK Associates Corp’s holdings in Hubbell were worth $4,332,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. IFG Advisory LLC acquired a new stake in Hubbell in the second quarter worth approximately $475,000. Acadian Asset Management LLC lifted its holdings in shares of Hubbell by 51.3% in the second quarter. Acadian Asset Management LLC now owns 3,693 shares of the industrial products company’s stock valued at $1,347,000 after buying an additional 1,252 shares during the period. Great Valley Advisor Group Inc. lifted its holdings in shares of Hubbell by 24.6% in the second quarter. Great Valley Advisor Group Inc. now owns 6,873 shares of the industrial products company’s stock valued at $2,511,000 after buying an additional 1,359 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in Hubbell by 2.9% during the first quarter. DekaBank Deutsche Girozentrale now owns 99,227 shares of the industrial products company’s stock valued at $40,731,000 after buying an additional 2,822 shares in the last quarter. Finally, Cetera Advisors LLC acquired a new position in Hubbell during the first quarter worth about $582,000. 88.16% of the stock is currently owned by institutional investors.

Hubbell Stock Performance

Shares of Hubbell stock opened at $467.94 on Friday. Hubbell Incorporated has a 12 month low of $281.45 and a 12 month high of $481.35. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51. The stock has a market cap of $25.11 billion, a PE ratio of 33.71, a price-to-earnings-growth ratio of 1.76 and a beta of 0.90. The business has a fifty day simple moving average of $427.99 and a 200-day simple moving average of $397.96.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, topping analysts’ consensus estimates of $4.47 by $0.02. The firm had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company posted $3.95 EPS. On average, sell-side analysts anticipate that Hubbell Incorporated will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.13%. The ex-dividend date 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 35.16%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on HUBB shares. Mizuho upped their price target on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Morgan Stanley increased their target price 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 restated an “overweight” rating and issued a $450.00 price target on shares of Hubbell in a research report on Friday, August 2nd. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft upgraded Hubbell from a “hold” rating to a “buy” rating and lifted their target price for the stock from $431.00 to $441.00 in a report on Friday, September 6th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $445.56.

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.