Oppenheimer Asset Management Inc. Grows Position in Hubbell Incorporated (NYSE:HUBB)

Oppenheimer Asset Management Inc. boosted its holdings in Hubbell Incorporated (NYSE:HUBB) by 37.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,321 shares of the industrial products company’s stock after buying an additional 357 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Hubbell were worth $566,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. International Assets Investment Management LLC grew its stake in shares of Hubbell by 42,735.0% in the third quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock worth $8,223,740,000 after acquiring an additional 1,915,383 shares during the period. Impax Asset Management Group plc grew its position in Hubbell by 53.8% in the 2nd quarter. Impax Asset Management Group plc now owns 922,801 shares of the industrial products company’s stock worth $336,984,000 after purchasing an additional 322,728 shares during the period. Bank of New York Mellon Corp raised its stake in Hubbell by 16.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock valued at $743,970,000 after buying an additional 291,850 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Hubbell by 16.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company’s stock worth $821,989,000 after buying an additional 286,134 shares during the last quarter. Finally, Ceredex Value Advisors LLC grew its holdings in shares of Hubbell by 60.9% in the second quarter. Ceredex Value Advisors LLC now owns 204,720 shares of the industrial products company’s stock worth $74,821,000 after acquiring an additional 77,500 shares during the period. Institutional investors own 88.16% of the company’s stock.

Hubbell Trading Up 1.6 %

Shares of Hubbell stock opened at $452.22 on Wednesday. Hubbell Incorporated has a fifty-two week low of $293.91 and a fifty-two week high of $481.35. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. The company has a market capitalization of $24.27 billion, a P/E ratio of 32.31, a P/E/G ratio of 1.63 and a beta of 0.90. The company has a fifty day moving average of $436.41 and a 200 day moving average of $400.49.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share 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 quarter in the prior year, the company posted $3.95 earnings per share. On average, sell-side analysts anticipate that Hubbell Incorporated will post 16.47 earnings per share 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 given a dividend of $1.32 per share. The ex-dividend date is Friday, November 29th. This represents a $5.28 annualized dividend and a dividend yield of 1.17%. This is a boost from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio (DPR) is presently 35.16%.

Insider Transactions at Hubbell

In other news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value of $533,332.80. Following the sale, the insider now directly owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. The trade was a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.78% of the company’s stock.

Analyst Ratings Changes

HUBB has been the topic of a number of recent research reports. Wells Fargo & Company increased their target price on Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a “hold” rating to a “buy” rating and raised their price objective for the stock from $431.00 to $441.00 in a report on Friday, September 6th. Morgan Stanley upped their target price on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Barclays lifted their price target on shares of Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $445.56.

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.