Principal Financial Group Inc. raised its holdings in Hubbell Incorporated (NYSE:HUBB - Free Report) by 7.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 229,210 shares of the industrial products company's stock after buying an additional 15,215 shares during the quarter. Principal Financial Group Inc. owned about 0.43% of Hubbell worth $98,187,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the business. International Assets Investment Management LLC raised its position in shares of Hubbell by 42,735.0% in the 3rd quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company's stock valued at $8,223,740,000 after purchasing an additional 1,915,383 shares during the last quarter. Impax Asset Management Group plc lifted its stake in shares of Hubbell by 53.8% during the second quarter. Impax Asset Management Group plc now owns 922,801 shares of the industrial products company's stock worth $336,984,000 after buying an additional 322,728 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Hubbell by 16.7% during the second 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 increased its position 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 valued at $821,989,000 after acquiring an additional 286,134 shares during the period. Finally, Ceredex Value Advisors LLC raised its stake in Hubbell by 60.9% in the 2nd 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 last quarter. Institutional investors and hedge funds own 88.16% of the company's stock.
Several analysts have weighed in on HUBB shares. JPMorgan Chase & Co. downgraded Hubbell from an "overweight" rating to a "neutral" rating and boosted their price target for the company from $385.00 to $454.00 in a research note on Thursday, October 10th. Sanford C. Bernstein started coverage on shares of Hubbell in a report on Tuesday. They issued an "outperform" rating and a $535.00 price target on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a "hold" rating to a "buy" rating and lifted their price objective for the company from $431.00 to $441.00 in a research note on Friday, September 6th. StockNews.com upgraded shares of Hubbell from a "hold" rating to a "buy" rating in a research note on Tuesday. Finally, Stephens restated an "overweight" rating and set a $450.00 target price on shares of Hubbell in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Hubbell has an average rating of "Moderate Buy" and an average price target of $445.56.
Read Our Latest Research Report on Hubbell
HUBB stock opened at $467.94 on Friday. The firm's fifty day moving average is $427.99 and its 200 day moving average is $397.96. The firm has a market cap of $25.11 billion, a PE ratio of 33.71, a P/E/G ratio of 1.76 and a beta of 0.90. Hubbell Incorporated has a one year low of $281.45 and a one year 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.
Hubbell (NYSE:HUBB - Get Free Report) last posted its earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating analysts' consensus estimates of $4.47 by $0.02. The firm had revenue of $1.44 billion for the quarter, compared to analysts' expectations of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The company's quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the firm earned $3.95 EPS. On average, research analysts forecast that Hubbell Incorporated will post 16.47 EPS for the current year.
The firm 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 $1.32 dividend. The ex-dividend date of this dividend is Friday, November 29th. This is a boost from Hubbell's previous quarterly dividend of $1.22. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.13%. Hubbell's payout ratio is 35.16%.
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.
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