Hubbell Inc $HUBB Stock: International Assets Investment Management LLC Raises Position

International Assets Investment Management LLC boosted its holdings in shares of Hubbell Inc (NYSE:HUBB – Free Report) by 6,586.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 200,000 shares of the industrial products company’s stock after buying an additional 197,009 shares during the period. Hubbell makes up about 0.7% of International Assets Investment Management LLC’s holdings, making the stock its 26th largest holding. International Assets Investment Management LLC owned 0.38% of Hubbell worth $90,720,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Schuylkill Financial LLC purchased a new stake in shares of Hubbell in the 2nd quarter valued at about $30,000. Leonteq Securities AG purchased a new position in shares of Hubbell during the first quarter worth about $33,000. Keating Financial Advisory Services Inc. purchased a new position in shares of Hubbell during the second quarter worth about $35,000. Fiduciary Financial Advisors purchased a new position in shares of Hubbell during the second quarter worth about $37,000. Finally, Arlington Trust Co LLC increased its position in shares of Hubbell by 83.7% in the second quarter. Arlington Trust Co LLC now owns 79 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 36 shares during the last quarter. Institutional investors own 88.16% of the company’s stock.

Hubbell Price Performance

HUBB opened at $422.58 on Friday. The stock has a 50-day moving average price of $459.26 and a 200-day moving average price of $487.81. Hubbell Inc has a 12-month low of $403.82 and a 12-month high of $565.50. The company has a current ratio of 1.53, a quick ratio of 0.93 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $22.32 billion, a P/E ratio of 21.81, a PEG ratio of 2.09 and a beta of 0.85.

Hubbell (NYSE:HUBB – Get Free Report) last announced its quarterly earnings data on Tuesday, October 27th. The industrial products company reported $5.91 EPS for the quarter, beating the consensus estimate of $5.75 by $0.16. The firm had revenue of $1.87 billion for the quarter, compared to analyst estimates of $1.85 billion. Hubbell had a return on equity of 27.33% and a net margin of 13.78%. The company’s revenue was up 24.6% on a year-over-year basis. During the same period in the prior year, the company earned $5.17 EPS. Equities analysts predict that Hubbell Inc will post 20.54 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be paid a $1.52 dividend. This is an increase from Hubbell’s previous quarterly dividend of $1.42. This represents a $6.08 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Monday, November 30th. Hubbell’s payout ratio is currently 33.29%.

Insider Buying and Selling

In other Hubbell news, VP Jonathan Del Nero sold 547 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $518.56, for a total transaction of $283,652.32. Following the transaction, the vice president directly owned 2,933 shares in the company, valued at $1,520,936.48. This trade represents a 15.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.63% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on HUBB. Seaport Research Partners reaffirmed a “buy” rating and issued a $580.00 target price on shares of Hubbell in a research note on Wednesday, September 30th. Morgan Stanley set a $600.00 price target on shares of Hubbell in a research note on Friday, October 16th. Evercore reissued an “outperform” rating and issued a $630.00 price target on shares of Hubbell in a report on Friday, October 9th. JPMorgan Chase & Co. increased their price target on shares of Hubbell from $485.00 to $486.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, Robert W. Baird lowered their price objective on shares of Hubbell from $550.00 to $540.00 and set an “outperform” rating on the stock in a research report on Wednesday. Six analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $546.00.

Check Out Our Latest Research Report on HUBB

Hubbell Company Profile

(Free Report)

Hubbell Incorporated (NYSE:HUBB) is an electrical products manufacturer that develops and supplies products used in utility, commercial, industrial, and telecommunications applications. Founded in 1888 by Harvey Hubbell, the company has built a portfolio focused on improving the reliability, safety, and efficiency of electrical systems.

Hubbell’s Utility Solutions products support the generation, transmission, distribution, and control of electricity. Its offerings include electrical connectors and fittings, insulators, arresters, transmission and distribution hardware, communications infrastructure products, and equipment used in underground and overhead utility networks.

Its Electrical Solutions business serves commercial and industrial customers with wiring devices, electrical enclosures, grounding and bonding products, cable management systems, lighting-related products, and solutions designed for harsh, hazardous, and demanding operating environments.

Further Reading

Institutional Ownership by Quarter for Hubbell (NYSE:HUBB)

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