AEGON ASSET MANAGEMENT UK Plc Acquires 2,565 Shares of Hubbell Incorporated (NYSE:HUBB)

AEGON ASSET MANAGEMENT UK Plc raised its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 9.4% in the third quarter, HoldingsChannel reports. The firm owned 29,852 shares of the industrial products company’s stock after buying an additional 2,565 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc’s holdings in Hubbell were worth $12,784,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of HUBB. Bank of New York Mellon Corp lifted its stake in Hubbell by 16.7% in the second quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock worth $743,970,000 after acquiring an additional 291,850 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in 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 purchasing an additional 286,134 shares in the last quarter. International Assets Investment Management LLC lifted 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 worth $8,223,740,000 after purchasing an additional 1,915,383 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in shares of Hubbell by 3.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,335,218 shares of the industrial products company’s stock valued at $487,995,000 after purchasing an additional 46,813 shares in the last quarter. Finally, Impax Asset Management Group plc increased its position in shares of Hubbell by 30.3% during the third quarter. Impax Asset Management Group plc now owns 1,202,455 shares of the industrial products company’s stock valued at $514,377,000 after buying an additional 279,654 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on HUBB. Stephens reissued an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a research report on Friday, August 2nd. Morgan Stanley raised their price objective on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. downgraded shares of Hubbell from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Mizuho upped their price objective on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. 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.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $445.56.

Hubbell Trading Up 0.2 %

NYSE:HUBB opened at $467.94 on Friday. Hubbell Incorporated has a 52 week low of $281.45 and a 52 week high of $481.35. The stock has a market cap of $25.11 billion, a price-to-earnings ratio of 33.71, a PEG ratio of 1.76 and a beta of 0.90. The company’s 50 day moving average price is $427.99 and its 200-day moving average price is $397.96. The company has a quick ratio of 1.05, a current ratio of 1.66 and a debt-to-equity ratio of 0.51.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.47 by $0.02. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The firm had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. During the same period in the prior year, the company posted $3.95 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities research analysts forecast 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 issued a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a dividend yield of 1.13%. This is a boost from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date 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.