Oddo BHF Asset Management Sas Acquires New Shares in Hubbell Incorporated (NYSE:HUBB)

Oddo BHF Asset Management Sas bought a new position in shares of Hubbell Incorporated (NYSE:HUBB) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 965 shares of the industrial products company’s stock, valued at approximately $413,000.

Several other large investors also recently bought and sold shares of HUBB. Mizuho Securities USA LLC raised its stake 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 worth $3,418,233,000 after buying an additional 7,975,855 shares during the last quarter. International Assets Investment Management LLC raised its position in Hubbell by 42,735.0% during the third 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 during the last quarter. Impax Asset Management Group plc lifted its holdings in shares of Hubbell by 53.8% in the second quarter. Impax Asset Management Group plc now owns 922,801 shares of the industrial products company’s stock valued at $336,984,000 after purchasing an additional 322,728 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Hubbell by 16.7% in the second 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 purchasing an additional 291,850 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Hubbell by 268.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 231,130 shares of the industrial products company’s stock worth $99,005,000 after purchasing an additional 168,380 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Stock Down 0.4 %

HUBB opened at $453.62 on Friday. The stock has a market capitalization of $24.35 billion, a price-to-earnings ratio of 32.68, a price-to-earnings-growth ratio of 1.70 and a beta of 0.91. Hubbell Incorporated has a 12 month low of $315.38 and a 12 month high of $481.35. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05. The business has a 50-day moving average of $451.86 and a two-hundred day moving average of $408.23.

Hubbell (NYSE:HUBB) last released 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. The firm had revenue of $1.44 billion during the quarter, compared to the consensus estimate of $1.48 billion. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. Hubbell’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.95 earnings per share. On average, research analysts expect that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.16%. This is an increase from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date is Friday, November 29th. Hubbell’s dividend payout ratio is presently 38.04%.

Insider Buying and Selling

In related news, insider Mark Eugene Mikes sold 1,144 shares of the 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 owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. This represents a 27.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.66% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on HUBB shares. StockNews.com lowered Hubbell from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Barclays increased their price objective on Hubbell from $402.00 to $475.00 and gave the company an “equal weight” rating in a research note on Thursday, December 5th. Wells Fargo & Company boosted their target price on shares of Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Mizuho raised their price target on shares of Hubbell from $450.00 to $490.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Hubbell from a “buy” rating to a “hold” rating and lowered their price target for the stock from $493.00 to $473.00 in a report on Tuesday, November 26th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $472.13.

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.