Mizuho Securities USA LLC Boosts Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Mizuho Securities USA LLC lifted its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 192,421.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,980,000 shares of the industrial products company’s stock after acquiring an additional 7,975,855 shares during the quarter. Hubbell comprises approximately 8.9% of Mizuho Securities USA LLC’s holdings, making the stock its 3rd largest position. Mizuho Securities USA LLC owned about 14.87% of Hubbell worth $3,418,233,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in HUBB. Bank of New York Mellon Corp grew its stake 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 valued at $743,970,000 after buying an additional 291,850 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Hubbell by 16.9% during 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 during the last quarter. International Assets Investment Management LLC boosted its stake in Hubbell by 42,735.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock valued at $8,223,740,000 after purchasing an additional 1,915,383 shares during the period. Massachusetts Financial Services Co. MA increased its position 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. Finally, Impax Asset Management Group plc lifted its holdings 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 worth $514,377,000 after buying an additional 279,654 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Insider Buying and Selling at Hubbell

In other news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s 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 transaction, the insider now owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. This trade represents a 27.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

HUBB has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and upped their target price for the company from $431.00 to $441.00 in a research note on Friday, September 6th. Wells Fargo & Company lifted their target price on shares of Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Barclays lifted their price objective on Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Morgan Stanley increased their price objective on Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Hubbell has a consensus rating of “Moderate Buy” and a consensus target price of $445.56.

Hubbell Stock Performance

Shares of NYSE:HUBB opened at $437.61 on Friday. The business has a fifty day moving average of $433.75 and a 200-day moving average of $399.39. The firm has a market cap of $23.49 billion, a PE ratio of 31.53, a price-to-earnings-growth ratio of 1.69 and a beta of 0.90. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66. Hubbell Incorporated has a twelve month low of $287.06 and a twelve 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, beating the consensus estimate of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the company posted $3.95 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts predict 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. Shareholders of record on Friday, November 29th will be issued a dividend of $1.32 per share. This is an increase from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend is Friday, November 29th. This represents a $5.28 annualized dividend and a yield of 1.21%. Hubbell’s dividend payout ratio is currently 35.16%.

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.