Czech National Bank Increases Stake in Hubbell Incorporated (NYSE:HUBB)

Czech National Bank increased its position in shares of Hubbell Incorporated (NYSE:HUBB) by 6.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,637 shares of the industrial products company’s stock after buying an additional 702 shares during the period. Czech National Bank’s holdings in Hubbell were worth $4,875,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in HUBB. Envestnet Asset Management Inc. increased its position in shares of Hubbell by 7.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 69,492 shares of the industrial products company’s stock valued at $25,398,000 after purchasing an additional 5,037 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Hubbell by 6.5% during the second quarter. Dimensional Fund Advisors LP now owns 376,518 shares of the industrial products company’s stock worth $137,622,000 after purchasing an additional 22,951 shares in the last quarter. Edgestream Partners L.P. purchased a new position in Hubbell in the second quarter valued at $2,781,000. Mercer Global Advisors Inc. ADV raised its stake in Hubbell by 2.6% in the second quarter. Mercer Global Advisors Inc. ADV now owns 11,578 shares of the industrial products company’s stock valued at $4,232,000 after buying an additional 297 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its stake in Hubbell by 6.8% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 8,584 shares of the industrial products company’s stock valued at $3,130,000 after buying an additional 543 shares in the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Insiders Place Their Bets

In other news, insider Mark Eugene Mikes sold 1,144 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $466.20, for a total transaction of $533,332.80. Following the transaction, the insider now directly owns 2,957 shares in the company, valued at $1,378,553.40. The trade was a 27.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.66% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently commented on HUBB. StockNews.com downgraded Hubbell from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Sanford C. Bernstein began coverage on shares of Hubbell in a research note on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 price target on the stock. JPMorgan Chase & Co. downgraded shares of Hubbell from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Morgan Stanley increased their target price on shares of Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Mizuho boosted their price target on shares of Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $471.50.

Hubbell Stock Performance

Shares of HUBB opened at $428.18 on Thursday. The company’s 50 day simple moving average is $443.81 and its 200-day simple moving average is $416.35. Hubbell Incorporated has a 12-month low of $319.06 and a 12-month high of $481.35. The firm has a market cap of $22.98 billion, a PE ratio of 30.85, a price-to-earnings-growth ratio of 1.69 and a beta of 0.93. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, beating analysts’ consensus estimates of $4.47 by $0.02. Hubbell had a net margin of 13.33% and a return on equity of 28.81%. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.48 billion. During the same period in the previous year, the business posted $3.95 earnings per share. Hubbell’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, equities analysts predict that Hubbell Incorporated will post 16.47 EPS for the current year.

Hubbell Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Friday, November 29th were given a dividend of $1.32 per share. This represents a $5.28 dividend on an annualized basis and a yield of 1.23%. This is a boost from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date was Friday, November 29th. Hubbell’s dividend payout ratio (DPR) is presently 38.04%.

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.