Dai ichi Life Insurance Company Ltd Has $1.07 Million Stock Holdings in Hubbell Incorporated (NYSE:HUBB)

Dai ichi Life Insurance Company Ltd cut its position in Hubbell Incorporated (NYSE:HUBB) by 44.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,488 shares of the industrial products company’s stock after selling 2,000 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Hubbell were worth $1,066,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. OLD National Bancorp IN raised its holdings in Hubbell by 3.8% in the third quarter. OLD National Bancorp IN now owns 596 shares of the industrial products company’s stock worth $255,000 after purchasing an additional 22 shares during the period. CWM LLC increased its position in shares of Hubbell by 2.2% during the second quarter. CWM LLC now owns 1,319 shares of the industrial products company’s stock worth $482,000 after acquiring an additional 28 shares in the last quarter. Detalus Advisors LLC increased its position in shares of Hubbell by 3.0% during the second quarter. Detalus Advisors LLC now owns 1,030 shares of the industrial products company’s stock worth $377,000 after acquiring an additional 30 shares in the last quarter. Ballentine Partners LLC increased its position in shares of Hubbell by 3.2% during the third quarter. Ballentine Partners LLC now owns 956 shares of the industrial products company’s stock worth $410,000 after acquiring an additional 30 shares in the last quarter. Finally, Savant Capital LLC increased its position in shares of Hubbell by 2.6% during the second quarter. Savant Capital LLC now owns 1,205 shares of the industrial products company’s stock worth $440,000 after acquiring an additional 31 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Hubbell

In other news, insider Mark Eugene Mikes sold 1,144 shares of the firm’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 completion of the sale, the insider now owns 2,957 shares in the company, valued at approximately $1,378,553.40. This trade represents a 27.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.78% of the stock is currently owned by corporate insiders.

Hubbell Stock Performance

Shares of HUBB opened at $458.81 on Thursday. The firm has a 50-day moving average of $444.28 and a 200-day moving average of $403.47. Hubbell Incorporated has a one year low of $293.91 and a one year high of $481.35. The company has a market cap of $24.62 billion, a PE ratio of 33.06, a price-to-earnings-growth ratio of 1.73 and a beta of 0.90. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05.

Hubbell (NYSE:HUBB) last announced 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 during the quarter, compared to the consensus estimate of $1.48 billion. During the same quarter last year, the firm posted $3.95 EPS. The company’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, equities analysts forecast that Hubbell Incorporated will post 16.47 earnings per share for the current year.

Hubbell Increases Dividend

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on HUBB. JPMorgan Chase & Co. downgraded shares of Hubbell from an “overweight” rating to a “neutral” rating and increased their price objective for the stock from $385.00 to $454.00 in a research report on Thursday, October 10th. Mizuho raised their target price 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. Barclays raised their target price on shares of Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Stephens reaffirmed an “overweight” rating and issued a $450.00 target price on shares of Hubbell in a research report on Friday, August 2nd. Finally, Sanford C. Bernstein initiated coverage on shares of Hubbell in a research report on Tuesday, November 5th. They issued an “outperform” rating and a $535.00 target price for the company. Five investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $449.11.

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.