Mirae Asset Global Investments Co. Ltd. Boosts Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Mirae Asset Global Investments Co. Ltd. raised its stake in Hubbell Incorporated (NYSE:HUBB) by 10.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 267,989 shares of the industrial products company’s stock after buying an additional 26,218 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Hubbell were worth $88,854,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in HUBB. V Square Quantitative Management LLC acquired a new position in shares of Hubbell in the 2nd quarter valued at $28,000. Global Retirement Partners LLC boosted its holdings in shares of Hubbell by 122.7% in the 1st quarter. Global Retirement Partners LLC now owns 98 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 54 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Hubbell by 55.2% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 149 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 53 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Hubbell by 40.7% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 152 shares of the industrial products company’s stock valued at $50,000 after purchasing an additional 44 shares during the last quarter. Finally, First Manhattan Co. acquired a new position in shares of Hubbell in the 1st quarter valued at $28,000. 85.97% of the stock is owned by hedge funds and other institutional investors.

Hubbell Stock Up 3.9 %

HUBB stock opened at $300.86 on Friday. Hubbell Incorporated has a 52 week low of $219.77 and a 52 week high of $340.06. The company has a market capitalization of $16.13 billion, a price-to-earnings ratio of 22.86, a price-to-earnings-growth ratio of 1.91 and a beta of 0.93. The firm’s 50-day moving average is $298.40 and its two-hundred day moving average is $305.02. The company has a current ratio of 2.16, a quick ratio of 1.43 and a debt-to-equity ratio of 0.52.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, October 31st. The industrial products company reported $3.95 EPS for the quarter, missing analysts’ consensus estimates of $4.07 by ($0.12). Hubbell had a return on equity of 30.09% and a net margin of 13.56%. The business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the firm earned $3.08 earnings per share. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, analysts forecast that Hubbell Incorporated will post 15.19 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be issued a $1.22 dividend. This is an increase from Hubbell’s previous quarterly dividend of $1.12. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date of this dividend is Wednesday, November 29th. Hubbell’s payout ratio is presently 37.08%.

Analyst Ratings Changes

A number of equities analysts have recently commented on HUBB shares. Mizuho raised their target price on shares of Hubbell from $300.00 to $370.00 in a research note on Wednesday, July 26th. JPMorgan Chase & Co. raised shares of Hubbell from a “neutral” rating to an “overweight” rating and raised their target price for the company from $333.00 to $335.00 in a research note on Friday. Wolfe Research raised shares of Hubbell from an “underperform” rating to a “peer perform” rating in a research note on Friday, August 11th. Seaport Res Ptn reissued a “buy” rating on shares of Hubbell in a research note on Wednesday, November 8th. Finally, StockNews.com initiated coverage on shares of Hubbell in a research note on Thursday, October 5th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $299.43.

Insider Buying and Selling

In other news, VP Nero Jonathan M. Del sold 1,902 shares of the business’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $285.54, for a total transaction of $543,097.08. Following the sale, the vice president now owns 3,646 shares in the company, valued at $1,041,078.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.66% of the company’s stock.

Hubbell Company 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.