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

Mizuho Securities USA LLC boosted its stake in Hubbell Incorporated (NYSE:HUBB) by 192,421.1% in the third quarter, HoldingsChannel reports. The firm owned 7,980,000 shares of the industrial products company’s stock after acquiring an additional 7,975,855 shares during the period. Hubbell accounts for about 8.9% of Mizuho Securities USA LLC’s holdings, making the stock its 3rd biggest position. Mizuho Securities USA LLC owned approximately 0.15% of Hubbell worth $3,418,233,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in HUBB. IFG Advisory LLC acquired a new stake in shares of Hubbell in the 2nd quarter valued at approximately $475,000. Acadian Asset Management LLC boosted its position in shares of Hubbell by 51.3% during the second quarter. Acadian Asset Management LLC now owns 3,693 shares of the industrial products company’s stock worth $1,347,000 after purchasing an additional 1,252 shares in the last quarter. Great Valley Advisor Group Inc. grew its holdings in shares of Hubbell by 24.6% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 6,873 shares of the industrial products company’s stock valued at $2,511,000 after buying an additional 1,359 shares during the period. DekaBank Deutsche Girozentrale increased its position in shares of Hubbell by 2.9% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 99,227 shares of the industrial products company’s stock valued at $40,731,000 after buying an additional 2,822 shares in the last quarter. Finally, Cetera Advisors LLC acquired a new stake in Hubbell during the 1st quarter worth $582,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Wells Fargo & Company raised their price target on Hubbell from $445.00 to $455.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft raised shares of Hubbell from a “hold” rating to a “buy” rating and lifted their price target for the company from $431.00 to $441.00 in a research note on Friday, September 6th. Mizuho upped 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. Barclays raised their price objective on shares of Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lowered shares of Hubbell from an “overweight” rating to a “neutral” rating and upped their target price for the stock from $385.00 to $454.00 in a research note on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $445.56.

Hubbell Stock Down 0.6 %

Hubbell stock opened at $437.61 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 1-year low of $287.06 and a 1-year high of $481.35. The company has a fifty day simple moving average of $433.75 and a 200 day simple moving average of $399.39. The company has a market cap of $23.49 billion, a P/E ratio of 31.53, a price-to-earnings-growth ratio of 1.69 and a beta of 0.90.

Hubbell (NYSE:HUBB) last issued its earnings results 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. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same period in the prior year, the firm earned $3.95 EPS. Hubbell’s quarterly revenue was up 4.9% compared to the same quarter last year. Research analysts anticipate that Hubbell Incorporated will post 16.47 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a dividend of $1.32 per share. The ex-dividend date is Friday, November 29th. This is a positive change from Hubbell’s previous quarterly dividend of $1.22. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.21%. Hubbell’s payout ratio is presently 35.16%.

Insider Activity at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 1,144 shares of the firm’s 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 completion of the sale, the insider now directly owns 2,957 shares in the company, 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 legal filing with the SEC, which is available at this hyperlink. 0.66% of the stock is owned by company 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.