Hubbell Inc $HUBB Shares 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 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 62,357 shares of the industrial products company’s stock after buying an additional 6,230 shares during the period. Eurizon Capital SGR S.p.A. owned about 0.12% of Hubbell worth $28,309,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. R Squared Ltd lifted its position in shares of Hubbell by 57.2% in the 3rd quarter. R Squared Ltd now owns 885 shares of the industrial products company’s stock worth $401,000 after acquiring an additional 322 shares during the period. Maryland State Retirement & Pension System increased its position in shares of Hubbell by 15.9% during the third quarter. Maryland State Retirement & Pension System now owns 3,292 shares of the industrial products company’s stock valued at $1,493,000 after purchasing an additional 451 shares during the period. Jacobi Capital Management LLC bought a new stake in shares of Hubbell during the third quarter valued at approximately $91,000. Jefferies Financial Group Inc. raised its stake in shares of Hubbell by 355.1% in the third quarter. Jefferies Financial Group Inc. now owns 13,740 shares of the industrial products company’s stock valued at $6,232,000 after purchasing an additional 10,721 shares in the last quarter. Finally, Silver Grove Financial Group Inc. raised its stake in shares of Hubbell by 23.7% in the third quarter. Silver Grove Financial Group Inc. now owns 146 shares of the industrial products company’s stock valued at $66,000 after purchasing an additional 28 shares in the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on HUBB shares. Sanford C. Bernstein reiterated an “outperform” rating on shares of Hubbell in a research note on Wednesday, July 29th. Morgan Stanley set a $600.00 price objective on shares of Hubbell in a research note on Friday, October 16th. JPMorgan Chase & Co. reduced their price objective on shares of Hubbell from $486.00 to $470.00 and set a “neutral” rating for the company in a report on Wednesday. Wells Fargo & Company decreased their target price on shares of Hubbell from $531.00 to $525.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 28th. Finally, Weiss Ratings cut shares of Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, October 29th. Six investment 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 currently has an average rating of “Moderate Buy” and an average price target of $544.22.

Hubbell Stock Down 0.3%

Shares of NYSE:HUBB opened at $436.69 on Friday. The company’s fifty day moving average is $454.39 and its 200-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. Hubbell Inc has a 52 week low of $403.82 and a 52 week high of $565.50. The company has a market capitalization of $23.07 billion, a PE ratio of 25.60, a P/E/G ratio of 2.09 and a beta of 0.84.

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. The firm had revenue of $1.87 billion during the quarter, compared to the consensus estimate of $1.85 billion. Hubbell had a net margin of 13.78% and a return on equity of 27.33%. The firm’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period last year, the firm posted $5.17 EPS. Equities research analysts predict that Hubbell Inc will post 20.55 earnings per share for the current fiscal year.

Hubbell Increases Dividend

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

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.