Hubbell Inc $HUBB Stock Acquired by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. lifted its stake in Hubbell Inc (NYSE:HUBB) by 11.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 62,357 shares of the industrial products company’s stock after purchasing an additional 6,230 shares during the period. Eurizon Capital SGR S.p.A.’s holdings in Hubbell were worth $28,309,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. BlackRock Inc. bought a new stake in shares of Hubbell during the second quarter worth $2,455,986,000. Bank of New York Mellon Corp bought a new position in Hubbell in the second quarter valued at about $783,142,000. Deutsche Bank AG acquired a new stake in Hubbell in the second quarter worth about $610,053,000. First Trust Advisors LP increased its position in Hubbell by 26.9% in the first quarter. First Trust Advisors LP now owns 714,287 shares of the industrial products company’s stock worth $350,529,000 after purchasing an additional 151,467 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in Hubbell by 1.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 512,643 shares of the industrial products company’s stock valued at $251,531,000 after purchasing an additional 4,894 shares during the period. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Trading Down 0.3%

HUBB opened at $436.69 on Friday. The firm’s fifty day moving average is $454.39 and its two-hundred day moving average is $485.51. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.87 and a current ratio of 1.53. The firm has a market cap of $23.07 billion, a PE ratio of 25.60, a price-to-earnings-growth ratio of 2.09 and a beta of 0.84. Hubbell Inc has a twelve month low of $403.82 and a twelve month high of $565.50.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, October 27th. The industrial products company reported $5.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.75 by $0.16. Hubbell had a net margin of 13.78% and a return on equity of 27.33%. The company had revenue of $1.87 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same quarter in the previous year, the business earned $5.17 EPS. The firm’s revenue was up 24.6% on a year-over-year basis. Equities research analysts anticipate that Hubbell Inc will post 20.55 EPS for the current year.

Hubbell Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be issued a dividend of $1.52 per share. This is a boost from Hubbell’s previous quarterly dividend of $1.42. The ex-dividend date is Monday, November 30th. This represents a $6.08 annualized dividend and a dividend yield of 1.4%. Hubbell’s dividend payout ratio (DPR) is presently 33.29%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on HUBB shares. Sanford C. Bernstein reiterated an “outperform” rating on shares of Hubbell in a research report on Wednesday, July 29th. Robert W. Baird cut their price objective on shares of Hubbell from $550.00 to $540.00 and set an “outperform” rating on the stock in a report on Wednesday, October 28th. Wells Fargo & Company reduced their price objective on shares of Hubbell from $531.00 to $525.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 28th. Seaport Research Partners reissued a “buy” rating and issued a $580.00 price target on shares of Hubbell in a research note on Wednesday, September 30th. Finally, JPMorgan Chase & Co. decreased their price objective on Hubbell from $486.00 to $470.00 and set a “neutral” rating for the company in a research note on Wednesday. Six research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Hubbell presently has an average rating of “Moderate Buy” and a consensus target price of $544.22.

About Hubbell

Hubbell Incorporated is a manufacturer of electrical and utility products serving customers in the energy, industrial, commercial and residential markets. Its products help support the generation, transmission and distribution of electricity, as well as the installation and use of electrical systems. The company’s Utility Solutions business makes products such as connectors, insulators, arresters and other equipment used in electric utility networks. Its Electrical Solutions business supplies wiring devices, lighting and controls, enclosures and related products for buildings and industrial applications.