BNP Paribas Financial Markets Grows Holdings in Hubbell Incorporated (NYSE:HUBB)

BNP Paribas Financial Markets raised its position in shares of Hubbell Incorporated (NYSE:HUBB) by 8.7% during the 3rd quarter, Holdings Channel.com reports. The firm owned 64,897 shares of the industrial products company’s stock after purchasing an additional 5,214 shares during the period. BNP Paribas Financial Markets’ holdings in Hubbell were worth $27,799,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Prospera Private Wealth LLC purchased a new position in shares of Hubbell during the 3rd quarter valued at $33,000. Ashton Thomas Securities LLC bought a new stake in Hubbell during the third quarter valued at about $41,000. Quarry LP purchased a new position in shares of Hubbell in the second quarter valued at about $49,000. Northwest Investment Counselors LLC bought a new position in shares of Hubbell in the third quarter worth about $58,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Hubbell during the second quarter worth about $62,000. 88.16% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Hubbell

In other Hubbell 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 completion of the sale, the insider now owns 2,957 shares of the company’s stock, valued at $1,378,553.40. This trade represents a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.66% of the company’s stock.

Hubbell Stock Up 0.2 %

Shares of NYSE HUBB opened at $459.89 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. Hubbell Incorporated has a 12-month low of $295.60 and a 12-month high of $481.35. The firm’s 50-day moving average price is $445.68 and its 200-day moving average price is $404.26. The stock has a market capitalization of $24.68 billion, a price-to-earnings ratio of 33.13, a P/E/G ratio of 1.71 and a beta of 0.90.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.47 by $0.02. The business had revenue of $1.44 billion for the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business posted $3.95 earnings per share. On average, equities research analysts anticipate 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 paid a dividend of $1.32 per share. This represents a $5.28 annualized dividend and a yield of 1.15%. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date of this dividend is Friday, November 29th. Hubbell’s payout ratio is presently 35.16%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Barclays upped their price target on Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Sanford C. Bernstein began coverage on shares of Hubbell in a research note on Tuesday, November 5th. They set an “outperform” rating and a $535.00 target price for the company. Mizuho lifted their price target on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a report on Monday, November 25th. Finally, Deutsche Bank Aktiengesellschaft cut Hubbell from a “buy” rating to a “hold” rating and reduced their target price for the stock from $493.00 to $473.00 in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $449.11.

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.