Hubbell Incorporated (NYSE:HUBB) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its position in Hubbell Incorporated (NYSE:HUBB) by 38.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,562 shares of the industrial products company’s stock after buying an additional 986 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Hubbell were worth $1,526,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of HUBB. Nvwm LLC acquired a new position in shares of Hubbell in the 1st quarter valued at about $25,000. Quarry LP bought a new position in shares of Hubbell during the second quarter valued at approximately $49,000. Northwest Investment Counselors LLC acquired a new stake in shares of Hubbell during the 3rd quarter worth approximately $58,000. Ashton Thomas Private Wealth LLC bought a new stake in shares of Hubbell in the 2nd quarter worth approximately $62,000. Finally, Massmutual Trust Co. FSB ADV boosted its position in Hubbell by 23.5% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 184 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 35 shares during the period. Institutional investors and hedge funds own 88.16% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on HUBB shares. JPMorgan Chase & Co. lowered Hubbell from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Mizuho boosted their target price on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Morgan Stanley lifted their price target on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft raised Hubbell from a “hold” rating to a “buy” rating and increased their price objective for the stock from $431.00 to $441.00 in a report on Friday, September 6th. Finally, Stephens reaffirmed an “overweight” rating and set a $450.00 target price on shares of Hubbell in a research note on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $434.38.

Insider Buying and Selling

In related news, Director Carlos M. Cardoso sold 450 shares of the stock in a transaction 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 in the company, valued at $608,781.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Carlos M. Cardoso sold 450 shares of the company’s 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 completion of the sale, the director now owns 1,670 shares in the company, valued at approximately $608,781.80. This 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 firm’s stock in a transaction that occurred 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 completion of the transaction, 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 Price Performance

Shares of Hubbell stock opened at $426.76 on Friday. Hubbell Incorporated has a 52 week low of $248.37 and a 52 week high of $461.77. The company has a current ratio of 1.81, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The stock has a market cap of $22.91 billion, a PE ratio of 31.82, a price-to-earnings-growth ratio of 1.66 and a beta of 0.90. The company’s 50-day moving average price is $419.94 and its two-hundred day moving average price is $395.41.

Hubbell (NYSE:HUBB) last released its earnings results 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 business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a net margin of 13.14% and a return on equity of 28.98%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm earned $3.95 EPS. As a group, sell-side analysts anticipate that Hubbell Incorporated will post 16.43 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. Stockholders of record on Friday, November 29th will be paid a dividend of $1.32 per share. 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. This represents a $5.28 annualized dividend and a dividend yield of 1.24%. Hubbell’s dividend payout ratio (DPR) is currently 36.39%.

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.