Vaughan Nelson Investment Management L.P. Boosts Stake in Hubbell Incorporated (NYSE:HUBB)

Vaughan Nelson Investment Management L.P. boosted its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 10.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 71,295 shares of the industrial products company’s stock after buying an additional 6,891 shares during the quarter. Vaughan Nelson Investment Management L.P.’s holdings in Hubbell were worth $30,539,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Mizuho Securities USA LLC increased its stake in shares of Hubbell by 192,421.1% in the third quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock worth $3,418,233,000 after purchasing an additional 7,975,855 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Hubbell by 16.7% in the 2nd 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 buying an additional 291,850 shares during the period. Price T Rowe Associates Inc. MD boosted 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 buying an additional 286,134 shares during the period. International Assets Investment Management LLC boosted its holdings in 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 buying an additional 1,915,383 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Hubbell by 3.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,335,218 shares of the industrial products company’s stock worth $487,995,000 after buying an additional 46,813 shares during the period. Institutional investors own 88.16% of the company’s stock.

Wall Street Analyst Weigh In

HUBB has been the subject of several recent analyst reports. Morgan Stanley upped their target price on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Stephens reissued an “overweight” rating and set a $450.00 price objective on shares of Hubbell in a report on Friday, August 2nd. JPMorgan Chase & Co. downgraded shares of Hubbell from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $385.00 to $454.00 in a report on Thursday, October 10th. Sanford C. Bernstein began coverage on shares of Hubbell in a report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 price objective for the company. Finally, Barclays increased their price objective on shares of Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $445.56.

Insider Buying and Selling

In related news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction dated Thursday, November 7th. The shares were 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 $1,378,553.40. This represents a 27.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.66% of the stock is currently owned by corporate insiders.

Hubbell Stock Down 0.6 %

Shares of NYSE HUBB opened at $437.61 on Monday. The firm’s 50-day moving average price is $435.08 and its 200-day moving average price is $399.80. 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 has a market capitalization of $23.49 billion, a price-to-earnings ratio of 31.53, a P/E/G ratio of 1.63 and a beta of 0.90. Hubbell Incorporated has a 12-month low of $287.06 and a 12-month high of $481.35.

Hubbell (NYSE:HUBB) last posted 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. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the prior year, the company posted $3.95 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities research analysts anticipate 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 given 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 1.21%. The ex-dividend date is Friday, November 29th. Hubbell’s dividend payout ratio is 38.04%.

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.