Walleye Capital LLC Grows Position in Hubbell Incorporated (NYSE:HUBB)

Walleye Capital LLC increased its position in shares of Hubbell Incorporated (NYSE:HUBB) by 2,928.6% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 41,340 shares of the industrial products company’s stock after buying an additional 39,975 shares during the quarter. Walleye Capital LLC owned about 0.08% of Hubbell worth $17,708,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in HUBB. Mizuho Securities USA LLC lifted its position in Hubbell by 192,421.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock worth $3,418,233,000 after acquiring an additional 7,975,855 shares during the period. International Assets Investment Management LLC lifted its position in Hubbell by 42,735.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock worth $8,223,740,000 after acquiring an additional 1,915,383 shares during the period. Impax Asset Management Group plc lifted its position in Hubbell by 53.8% during the 2nd quarter. Impax Asset Management Group plc now owns 922,801 shares of the industrial products company’s stock worth $336,984,000 after acquiring an additional 322,728 shares during the period. Bank of New York Mellon Corp lifted its position in Hubbell by 16.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock worth $743,970,000 after acquiring an additional 291,850 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Hubbell by 268.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 231,130 shares of the industrial products company’s stock worth $99,005,000 after acquiring an additional 168,380 shares during the period. 88.16% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. Mizuho raised their price target on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Stephens reissued an “overweight” rating and issued a $450.00 price target on shares of Hubbell in a report on Friday, August 2nd. Barclays raised their price target on Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Morgan Stanley raised their price target on Hubbell from $407.00 to $445.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company raised their price target on Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Hubbell currently has a consensus rating of “Moderate Buy” and a consensus price target of $449.11.

Hubbell Stock Performance

Shares of HUBB stock opened at $459.89 on Friday. The stock has a fifty day moving average price of $445.68 and a 200 day moving average price of $404.26. The stock has a market cap of $24.68 billion, a PE ratio of 33.13, a P/E/G ratio of 1.71 and a beta of 0.90. Hubbell Incorporated has a 1 year low of $295.60 and a 1 year high of $481.35. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.05 and a current ratio of 1.66.

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

Hubbell Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be given a dividend of $1.32 per share. This is an increase from Hubbell’s previous quarterly dividend of $1.22. The ex-dividend date is Friday, November 29th. This represents a $5.28 annualized dividend and a yield of 1.15%. Hubbell’s dividend payout ratio (DPR) is presently 35.16%.

Insiders Place Their Bets

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

Hubbell 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.