Hubbell Inc $HUBB Stock: International Assets Investment Management LLC Grows Position

International Assets Investment Management LLC increased its stake in Hubbell Inc (NYSE:HUBB) by 6,586.7% in the third quarter, HoldingsChannel reports. The fund owned 200,000 shares of the industrial products company’s stock after purchasing an additional 197,009 shares during the period. Hubbell makes up about 0.7% of International Assets Investment Management LLC’s portfolio, making the stock its 26th biggest position. International Assets Investment Management LLC’s holdings in Hubbell were worth $90,720,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Schuylkill Financial LLC bought a new position in Hubbell during the 2nd quarter worth approximately $30,000. Leonteq Securities AG bought a new stake in Hubbell in the first quarter valued at approximately $33,000. Keating Financial Advisory Services Inc. bought a new stake in Hubbell in the second quarter valued at approximately $35,000. Fiduciary Financial Advisors purchased a new stake in shares of Hubbell during the second quarter valued at approximately $37,000. Finally, Arlington Trust Co LLC boosted its stake in shares of Hubbell by 83.7% during the second quarter. Arlington Trust Co LLC now owns 79 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 36 shares during the period. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Hubbell Trading Down 3.6%

NYSE:HUBB opened at $422.58 on Friday. The firm has a market capitalization of $22.32 billion, a P/E ratio of 21.81, a PEG ratio of 2.09 and a beta of 0.85. The company has a debt-to-equity ratio of 1.09, a current ratio of 1.53 and a quick ratio of 0.93. Hubbell Inc has a one year low of $403.82 and a one year high of $565.50. The company’s 50-day simple moving average is $459.26 and its 200 day simple moving average is $487.81.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, October 27th. The industrial products company reported $5.91 EPS for the quarter, topping the consensus estimate of $5.75 by $0.16. Hubbell had a return on equity of 27.33% and a net margin of 13.78%. The business had revenue of $1.87 billion for the quarter, compared to the consensus estimate of $1.85 billion. During the same period in the previous year, the company posted $5.17 earnings per share. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. As a group, analysts forecast that Hubbell Inc will post 20.54 EPS for the current fiscal year.

Hubbell Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be paid a $1.52 dividend. This represents a $6.08 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Monday, November 30th. This is a positive change from Hubbell’s previous quarterly dividend of $1.42. Hubbell’s dividend payout ratio (DPR) is presently 33.29%.

Insider Buying and Selling

In other news, VP Jonathan Del Nero sold 547 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $518.56, for a total transaction of $283,652.32. Following the sale, the vice president owned 2,933 shares in the company, valued at $1,520,936.48. This represents a 15.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.63% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Robert W. Baird lowered their price target on shares of Hubbell from $550.00 to $540.00 and set an “outperform” rating for the company in a report on Wednesday. Wells Fargo & Company cut their price target on shares of Hubbell from $531.00 to $525.00 and set an “equal weight” rating on the stock in a report on Wednesday. Wall Street Zen cut shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Morgan Stanley set a $600.00 price objective on shares of Hubbell in a research note on Friday, October 16th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Hubbell in a research note on Wednesday, July 29th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $546.00.

Hubbell Profile

Hubbell Incorporated (NYSE:HUBB) is an electrical products manufacturer that develops and supplies products used in utility, commercial, industrial, and telecommunications applications. Founded in 1888 by Harvey Hubbell, the company has built a portfolio focused on improving the reliability, safety, and efficiency of electrical systems.

Hubbell’s Utility Solutions products support the generation, transmission, distribution, and control of electricity. Its offerings include electrical connectors and fittings, insulators, arresters, transmission and distribution hardware, communications infrastructure products, and equipment used in underground and overhead utility networks.

Its Electrical Solutions business serves commercial and industrial customers with wiring devices, electrical enclosures, grounding and bonding products, cable management systems, lighting-related products, and solutions designed for harsh, hazardous, and demanding operating environments.