BNP PARIBAS ASSET MANAGEMENT Holding S.A. Grows Stock Position in Hubbell Incorporated (NYSE:HUBB)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 16.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,751 shares of the industrial products company’s stock after acquiring an additional 3,277 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Hubbell were worth $9,745,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Jennison Associates LLC boosted its stake in shares of Hubbell by 1,343.2% during the third quarter. Jennison Associates LLC now owns 18,906 shares of the industrial products company’s stock valued at $8,098,000 after purchasing an additional 17,596 shares during the period. Prospera Private Wealth LLC purchased a new stake in Hubbell during the 3rd quarter valued at $33,000. Premier Fund Managers Ltd grew its holdings in Hubbell by 5.8% in the 3rd quarter. Premier Fund Managers Ltd now owns 13,650 shares of the industrial products company’s stock worth $5,851,000 after acquiring an additional 750 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Hubbell in the third quarter valued at about $2,750,000. Finally, Banque Cantonale Vaudoise raised its stake in shares of Hubbell by 375.3% during the third quarter. Banque Cantonale Vaudoise now owns 8,147 shares of the industrial products company’s stock valued at $3,490,000 after acquiring an additional 6,433 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, insider Mark Eugene Mikes sold 1,144 shares of the company’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 value of $533,332.80. Following the transaction, the insider now owns 2,957 shares in the company, valued at approximately $1,378,553.40. This represents a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.66% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft raised Hubbell from a “hold” rating to a “buy” rating and raised their target price for the stock from $431.00 to $441.00 in a research note on Friday, September 6th. Sanford C. Bernstein assumed coverage on Hubbell in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price objective on the stock. Wells Fargo & Company upped their target price on Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Stephens reiterated an “overweight” rating and issued a $450.00 price target on shares of Hubbell in a report on Friday, August 2nd. Finally, Morgan Stanley boosted their price objective on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $445.56.

Hubbell Stock Performance

Shares of Hubbell stock opened at $460.81 on Friday. Hubbell Incorporated has a 12 month low of $293.91 and a 12 month high of $481.35. The firm has a market capitalization of $24.73 billion, a P/E ratio of 33.20, a P/E/G ratio of 1.70 and a beta of 0.90. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. The business has a fifty day simple moving average of $441.22 and a two-hundred day simple moving average of $402.22.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, topping 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 business had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same quarter in the previous year, the firm posted $3.95 earnings per share. Hubbell’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities analysts forecast that Hubbell Incorporated will post 16.47 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The business 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 is a boost 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 dividend on an annualized basis and a yield of 1.15%. Hubbell’s payout ratio is presently 35.16%.

Hubbell Profile

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.