Asset Management One Co. Ltd. Has $8.97 Million Stock Position in Hubbell Inc $HUBB

Asset Management One Co. Ltd. trimmed its position in Hubbell Inc (NYSE:HUBB) by 14.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,969 shares of the industrial products company’s stock after selling 3,787 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Hubbell were worth $8,972,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its holdings in shares of Hubbell by 0.3% in the first quarter. Bank of New York Mellon Corp now owns 2,833,469 shares of the industrial products company’s stock worth $937,623,000 after buying an additional 7,142 shares during the period. Invesco Ltd. boosted its holdings in shares of Hubbell by 2.1% during the first quarter. Invesco Ltd. now owns 1,522,338 shares of the industrial products company’s stock worth $503,757,000 after purchasing an additional 31,859 shares during the period. Deutsche Bank AG boosted its holdings in shares of Hubbell by 35.1% during the first quarter. Deutsche Bank AG now owns 1,104,085 shares of the industrial products company’s stock worth $365,353,000 after purchasing an additional 287,047 shares during the period. Adage Capital Partners GP L.L.C. boosted its holdings in shares of Hubbell by 181.6% during the first quarter. Adage Capital Partners GP L.L.C. now owns 975,196 shares of the industrial products company’s stock worth $322,702,000 after purchasing an additional 628,886 shares during the period. Finally, Nuveen LLC acquired a new stake in shares of Hubbell during the first quarter worth approximately $213,283,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Hubbell Stock Down 0.1%

Shares of NYSE:HUBB opened at $434.10 on Tuesday. Hubbell Inc has a 52 week low of $299.42 and a 52 week high of $481.35. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.76 and a current ratio of 1.30. The company’s fifty day moving average is $431.32 and its 200-day moving average is $407.61. The company has a market capitalization of $23.07 billion, a PE ratio of 28.19, a P/E/G ratio of 2.42 and a beta of 0.96.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, July 29th. The industrial products company reported $4.93 EPS for the quarter, beating the consensus estimate of $4.36 by $0.57. The company had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.51 billion. Hubbell had a net margin of 14.76% and a return on equity of 27.63%. Equities research analysts predict that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be issued a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $5.68 annualized dividend and a yield of 1.3%. This is an increase from Hubbell’s previous quarterly dividend of $1.32. Hubbell’s dividend payout ratio (DPR) is presently 34.29%.

Analyst Ratings Changes

Several analysts recently commented on HUBB shares. Wells Fargo & Company upgraded shares of Hubbell from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $445.00 to $490.00 in a report on Tuesday, September 2nd. JPMorgan Chase & Co. raised their price target on shares of Hubbell from $417.00 to $458.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Weiss Ratings restated a “buy (b-)” rating on shares of Hubbell in a report on Wednesday, October 8th. Wall Street Zen lowered shares of Hubbell from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Mizuho raised their price objective on shares of Hubbell from $475.00 to $480.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Five investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $476.50.

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.