Robeco Institutional Asset Management B.V. Cuts Stake in Hubbell Incorporated (NYSE:HUBB)

Robeco Institutional Asset Management B.V. cut its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 2.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 19,598 shares of the industrial products company’s stock after selling 392 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Hubbell were worth $8,395,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in HUBB. OLD National Bancorp IN raised its position in Hubbell by 3.8% in the 3rd quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company’s stock worth $255,000 after purchasing an additional 22 shares during the period. CWM LLC raised its stake in shares of Hubbell by 2.2% during the second quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock valued at $482,000 after acquiring an additional 28 shares during the last quarter. Meeder Advisory Services Inc. grew its stake in shares of Hubbell by 3.8% in the first quarter. Meeder Advisory Services Inc. now owns 816 shares of the industrial products company’s stock worth $339,000 after purchasing an additional 30 shares during the last quarter. Detalus Advisors LLC increased its holdings in Hubbell by 3.0% during the 2nd quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company’s stock valued at $377,000 after purchasing an additional 30 shares during the period. Finally, Ballentine Partners LLC raised its position in Hubbell by 3.2% during the 3rd quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company’s stock valued at $410,000 after purchasing an additional 30 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised Hubbell from a “hold” rating to a “buy” rating and boosted their target price for the company from $431.00 to $441.00 in a research note on Friday, September 6th. Stephens restated an “overweight” rating and issued a $450.00 price objective on shares of Hubbell in a report on Friday, August 2nd. Mizuho lifted 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. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Wells Fargo & Company lifted their price objective on Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $445.56.

Hubbell Trading Down 1.1 %

NYSE HUBB opened at $466.98 on Friday. Hubbell Incorporated has a 12 month low of $278.62 and a 12 month high of $481.35. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. The stock’s fifty day moving average price is $426.63 and its 200-day moving average price is $397.42. The stock has a market cap of $25.07 billion, a P/E ratio of 33.64, a P/E/G ratio of 1.58 and a beta of 0.90.

Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating the consensus estimate of $4.47 by $0.02. The company had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. Hubbell’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted $3.95 EPS. As a group, equities analysts forecast that Hubbell Incorporated will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $1.32 dividend. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date of this dividend is Friday, November 29th. Hubbell’s payout ratio is presently 35.16%.

Hubbell 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.