Gateway Investment Advisers LLC Grows Holdings in Hubbell Incorporated (NYSE:HUBB)

Gateway Investment Advisers LLC lifted its position in shares of Hubbell Incorporated (NYSE:HUBB) by 0.2% during the 4th quarter, HoldingsChannel reports. The fund owned 43,243 shares of the industrial products company’s stock after purchasing an additional 106 shares during the period. Gateway Investment Advisers LLC’s holdings in Hubbell were worth $18,114,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Mizuho Securities USA LLC lifted its position in shares of Hubbell by 192,421.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock valued at $3,418,233,000 after buying an additional 7,975,855 shares in the last quarter. International Assets Investment Management LLC increased 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 acquiring an additional 1,915,383 shares in the last quarter. Impax Asset Management Group plc raised its position in 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 worth $514,377,000 after acquiring an additional 279,654 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Hubbell by 268.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 231,130 shares of the industrial products company’s stock valued at $99,005,000 after purchasing an additional 168,380 shares in the last quarter. Finally, LGT Capital Partners LTD. purchased a new stake in shares of Hubbell during the third quarter worth about $39,687,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Hubbell

In related news, insider Mark Eugene Mikes sold 1,144 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $466.20, for a total value of $533,332.80. Following the transaction, the insider now directly owns 2,957 shares in the company, valued at approximately $1,378,553.40. This represents a 27.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.66% of the company’s stock.

Hubbell Stock Performance

NYSE HUBB opened at $433.80 on Friday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. The stock’s fifty day moving average is $443.15 and its two-hundred day moving average is $416.47. The firm has a market capitalization of $23.28 billion, a P/E ratio of 31.25, a price-to-earnings-growth ratio of 1.45 and a beta of 0.93. Hubbell Incorporated has a fifty-two week low of $319.06 and a fifty-two week high of $481.35.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, topping the consensus estimate of $4.47 by $0.02. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the firm earned $3.95 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, research analysts anticipate that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 29th were paid a $1.32 dividend. This is a boost from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date was Friday, November 29th. This represents a $5.28 annualized dividend and a dividend yield of 1.22%. Hubbell’s dividend payout ratio is 38.04%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on HUBB shares. Morgan Stanley raised their price target on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Mizuho raised their target price on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research report on Thursday. JPMorgan Chase & Co. lowered Hubbell from an “overweight” rating to a “neutral” rating and raised their price objective for the company from $385.00 to $454.00 in a report on Thursday, October 10th. Finally, Sanford C. Bernstein assumed coverage on shares of Hubbell in a report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 target price for the company. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $471.50.

Hubbell Company 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.