Curi RMB Capital LLC Grows Stock Position in Hubbell Incorporated (NYSE:HUBB)

Curi RMB Capital LLC boosted its position in Hubbell Incorporated (NYSE:HUBB) by 3.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,234 shares of the industrial products company’s stock after acquiring an additional 746 shares during the quarter. Curi RMB Capital LLC’s holdings in Hubbell were worth $9,524,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. International Assets Investment Management LLC boosted its stake 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 valued at $8,223,740,000 after purchasing an additional 1,915,383 shares in the last quarter. Impax Asset Management Group plc boosted 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 grew its stake 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 valued at $743,970,000 after acquiring an additional 291,850 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Hubbell by 16.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company’s stock worth $821,989,000 after purchasing an additional 286,134 shares in the last quarter. Finally, Ceredex Value Advisors LLC boosted its holdings in shares of Hubbell by 60.9% during the second quarter. Ceredex Value Advisors LLC now owns 204,720 shares of the industrial products company’s stock worth $74,821,000 after purchasing an additional 77,500 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Stephens restated an “overweight” rating and set a $450.00 target price on shares of Hubbell in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft upgraded Hubbell from a “hold” rating to a “buy” rating and boosted their price target for the company from $431.00 to $441.00 in a research note on Friday, September 6th. Sanford C. Bernstein began coverage on Hubbell in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price for the company. Wells Fargo & Company increased their price objective on shares of Hubbell from $445.00 to $455.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Barclays raised their price target on shares of Hubbell from $400.00 to $402.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $445.56.

Hubbell Stock Performance

NYSE HUBB opened at $440.07 on Friday. The firm has a market capitalization of $23.62 billion, a P/E ratio of 31.71, a price-to-earnings-growth ratio of 1.69 and a beta of 0.90. The company has a current ratio of 1.66, a quick ratio of 1.05 and a debt-to-equity ratio of 0.51. The firm’s fifty day moving average price is $432.35 and its two-hundred day moving average price is $399.10. Hubbell Incorporated has a 1 year low of $287.06 and a 1 year high of $481.35.

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

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.20%. This is an increase from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio (DPR) is currently 35.16%.

Insider Activity

In other news, insider Mark Eugene Mikes sold 1,144 shares of the 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 sale, the insider now directly owns 2,957 shares of the company’s stock, valued at approximately $1,378,553.40. This represents a 27.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.66% of the stock is currently owned by company insiders.

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.