UBS Group AG Grows Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

UBS Group AG raised its position in shares of Hubbell Incorporated (NYSE:HUBB – Get Rating) by 345.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,910 shares of the industrial products company’s stock after acquiring an additional 41,038 shares during the period. UBS Group AG’s holdings in Hubbell were worth $12,417,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of HUBB. Panagora Asset Management Inc. increased its position in Hubbell by 87.6% during the first quarter. Panagora Asset Management Inc. now owns 5,426 shares of the industrial products company’s stock valued at $997,000 after acquiring an additional 2,533 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of Hubbell by 9.4% in the first quarter. Great West Life Assurance Co. Can now owns 31,791 shares of the industrial products company’s stock worth $6,006,000 after purchasing an additional 2,736 shares during the last quarter. Blair William & Co. IL grew its holdings in shares of Hubbell by 0.5% in the first quarter. Blair William & Co. IL now owns 22,986 shares of the industrial products company’s stock worth $4,224,000 after purchasing an additional 120 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Hubbell by 0.4% in the first quarter. Vanguard Group Inc. now owns 5,454,758 shares of the industrial products company’s stock worth $1,002,421,000 after purchasing an additional 23,865 shares during the last quarter. Finally, Covestor Ltd grew its holdings in shares of Hubbell by 137.3% in the first quarter. Covestor Ltd now owns 522 shares of the industrial products company’s stock worth $96,000 after purchasing an additional 302 shares during the last quarter. Institutional investors own 89.71% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on HUBB shares. Morgan Stanley upped their price target on shares of Hubbell from $226.00 to $238.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 1st. Mizuho upped their price target on shares of Hubbell from $252.00 to $300.00 in a report on Wednesday, April 26th. StockNews.com upgraded shares of Hubbell from a “buy” rating to a “strong-buy” rating in a report on Monday, May 15th. JPMorgan Chase & Co. upgraded shares of Hubbell from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $200.00 to $205.00 in a report on Wednesday, February 1st. Finally, Wells Fargo & Company cut their price target on shares of Hubbell from $225.00 to $221.00 and set an “equal weight” rating on the stock in a report on Thursday, April 13th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $237.33.

Insider Buying and Selling

In related news, Director Carlos M. Cardoso sold 560 shares of the stock in a transaction that occurred on Friday, May 5th. The shares were sold at an average price of $273.16, for a total value of $152,969.60. Following the transaction, the director now owns 1,711 shares in the company, valued at approximately $467,376.76. The sale was disclosed in a filing with the SEC, which is available through this link. 0.66% of the stock is owned by corporate insiders.

Hubbell Stock Performance

Shares of Hubbell stock opened at $280.01 on Monday. The firm has a market capitalization of $15.01 billion, a P/E ratio of 26.74, a PEG ratio of 2.03 and a beta of 0.99. The company has a quick ratio of 1.25, a current ratio of 1.99 and a debt-to-equity ratio of 0.58. The company has a 50 day moving average price of $247.89 and a 200 day moving average price of $244.39. Hubbell Incorporated has a 52 week low of $170.21 and a 52 week high of $284.27.

Hubbell (NYSE:HUBB – Get Rating) last announced its quarterly earnings data on Tuesday, April 25th. The industrial products company reported $3.61 EPS for the quarter, beating the consensus estimate of $2.46 by $1.15. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.25 billion. Hubbell had a net margin of 11.15% and a return on equity of 27.72%. Hubbell’s revenue was up 11.2% on a year-over-year basis. During the same period last year, the firm posted $2.12 EPS. Sell-side analysts expect that Hubbell Incorporated will post 13.81 EPS for the current year.

Hubbell Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Wednesday, May 31st will be issued a $1.12 dividend. The ex-dividend date is Tuesday, May 30th. This represents a $4.48 annualized dividend and a yield of 1.60%. Hubbell’s dividend payout ratio (DPR) is presently 42.79%.

Hubbell Company Profile

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Hubbell, Inc engages in the designing, manufacturing, and sale of electrical and electronic products for non-residential and residential construction, industrial, and utility applications. It operates through the Electrical Solutions and Utility Solutions segments. The Electrical Solutions segment manufactures and sells wiring and electrical, lighting fixtures, and controls for indoor and outdoor applications as well as specialty lighting and communications products.