Nomura Holdings Inc. Acquires Shares of 1,088 Hubbell Incorporated (NYSE:HUBB)

Nomura Holdings Inc. bought a new position in shares of Hubbell Incorporated (NYSE:HUBB) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,088 shares of the industrial products company’s stock, valued at approximately $358,000.

Several other institutional investors and hedge funds have also recently modified their holdings of HUBB. International Assets Investment Management LLC raised its position in Hubbell by 32,734.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,472,949 shares of the industrial products company’s stock valued at $484,497,000 after purchasing an additional 1,468,463 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Hubbell by 15.9% in the fourth quarter. Vanguard Group Inc. now owns 6,696,582 shares of the industrial products company’s stock valued at $2,202,707,000 after acquiring an additional 918,808 shares in the last quarter. Norges Bank purchased a new stake in Hubbell in the fourth quarter worth about $143,024,000. Massachusetts Financial Services Co. MA grew its holdings in Hubbell by 24.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,268,560 shares of the industrial products company’s stock worth $417,267,000 after acquiring an additional 248,493 shares in the last quarter. Finally, Westwood Holdings Group Inc. increased its position in Hubbell by 575.7% during the 4th quarter. Westwood Holdings Group Inc. now owns 288,186 shares of the industrial products company’s stock valued at $94,793,000 after purchasing an additional 245,536 shares during the period. Institutional investors own 88.16% of the company’s stock.

Insider Buying and Selling

In other news, Director Neal J. Keating acquired 500 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were acquired at an average cost of $378.77 per share, with a total value of $189,385.00. Following the completion of the acquisition, the director now owns 8,571 shares of the company’s stock, valued at $3,246,437.67. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Hubbell news, Director Neal J. Keating acquired 500 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were acquired at an average cost of $378.77 per share, with a total value of $189,385.00. Following the acquisition, the director now directly owns 8,571 shares of the company’s stock, valued at $3,246,437.67. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mark Eugene Mikes sold 1,942 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $401.34, for a total transaction of $779,402.28. Following the completion of the sale, the insider now owns 3,436 shares in the company, valued at approximately $1,379,004.24. The disclosure for this sale can be found here. Insiders sold 3,055 shares of company stock worth $1,232,139 in the last 90 days. Insiders own 0.66% of the company’s stock.

Hubbell Trading Down 0.7 %

Hubbell stock opened at $377.39 on Friday. Hubbell Incorporated has a one year low of $248.37 and a one year high of $429.61. The stock has a market cap of $20.26 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 1.47 and a beta of 0.94. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.03 and a current ratio of 1.66. The stock has a 50-day moving average of $390.40 and a two-hundred day moving average of $370.17.

Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, April 30th. The industrial products company reported $3.60 EPS for the quarter, topping analysts’ consensus estimates of $3.54 by $0.06. Hubbell had a net margin of 13.23% and a return on equity of 29.55%. The company had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same period last year, the business earned $3.61 EPS. Hubbell’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, research analysts anticipate that Hubbell Incorporated will post 16.33 EPS for the current fiscal year.

Hubbell Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Friday, May 31st were paid a $1.22 dividend. The ex-dividend date of this dividend was Friday, May 31st. This represents a $4.88 dividend on an annualized basis and a yield of 1.29%. Hubbell’s dividend payout ratio (DPR) is 36.39%.

Wall Street Analyst Weigh In

HUBB has been the subject of several research reports. Wells Fargo & Company lowered their price target on shares of Hubbell from $435.00 to $397.00 and set an “equal weight” rating for the company in a research report on Wednesday, May 1st. Mizuho lifted their price target on Hubbell from $370.00 to $450.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Barclays decreased their price objective on Hubbell from $400.00 to $384.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft started coverage on Hubbell in a research note on Monday, March 11th. They issued a “hold” rating and a $427.00 target price on the stock. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $386.57.

About Hubbell

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.