Metis Global Partners LLC Boosts Stake in Hubbell Incorporated (NYSE:HUBB)

Metis Global Partners LLC grew its position in shares of Hubbell Incorporated (NYSE:HUBB) by 52.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,578 shares of the industrial products company’s stock after buying an additional 890 shares during the quarter. Metis Global Partners LLC’s holdings in Hubbell were worth $1,104,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. OLD National Bancorp IN raised its position in Hubbell by 3.8% in the third quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company’s stock worth $255,000 after acquiring an additional 22 shares during the period. CWM LLC raised its holdings in shares of Hubbell by 2.2% in the 2nd quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock worth $482,000 after purchasing an additional 28 shares during the period. Detalus Advisors LLC lifted its stake in Hubbell by 3.0% in the second quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company’s stock valued at $377,000 after purchasing an additional 30 shares during the last quarter. Ballentine Partners LLC grew its holdings in Hubbell by 3.2% during the third quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company’s stock valued at $410,000 after purchasing an additional 30 shares during the period. Finally, Savant Capital LLC increased its position in Hubbell by 2.6% in the second quarter. Savant Capital LLC now owns 1,205 shares of the industrial products company’s stock worth $440,000 after buying an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Trading Down 0.6 %

Shares of HUBB stock opened at $437.61 on Friday. The company has a market capitalization 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. Hubbell Incorporated has a 52-week low of $287.06 and a 52-week high of $481.35. The business’s fifty day moving average is $435.08 and its 200 day moving average is $399.60. 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 (NYSE:HUBB) last released its quarterly earnings results 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 return on equity of 28.81% and a net margin of 13.33%. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter last year, the firm posted $3.95 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts anticipate that Hubbell Incorporated will post 16.47 EPS for the current fiscal year.

Hubbell Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Friday, November 29th. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 annualized dividend and a yield of 1.21%. Hubbell’s payout ratio is 35.16%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HUBB. StockNews.com upgraded Hubbell from a “hold” rating to a “buy” rating in a research note on Thursday. Morgan Stanley increased their target price on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Barclays boosted their price target on shares of Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Mizuho raised their price objective on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a “hold” rating to a “buy” rating and boosted their target price for the company from $431.00 to $441.00 in a report on Friday, September 6th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $445.56.

Insider Activity at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of Hubbell stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the transaction, the insider now directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.66% of the stock is owned by insiders.

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.