Covea Finance Has $42.49 Million Holdings in Hubbell Incorporated (NYSE:HUBB)

Covea Finance lifted its position in shares of Hubbell Incorporated (NYSE:HUBB) by 187.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 99,200 shares of the industrial products company’s stock after acquiring an additional 64,700 shares during the quarter. Hubbell makes up approximately 1.9% of Covea Finance’s portfolio, making the stock its 18th biggest position. Covea Finance owned 0.18% of Hubbell worth $42,492,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake 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 worth $2,202,707,000 after purchasing an additional 918,808 shares during the last quarter. Impax Asset Management Group plc raised its position in shares of Hubbell by 53.8% during the second 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 last quarter. Bank of New York Mellon Corp lifted its stake in shares of Hubbell by 16.7% in the second 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. Price T Rowe Associates Inc. MD boosted its stake in shares of Hubbell by 16.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,980,456 shares of the industrial products company’s stock valued at $821,989,000 after purchasing an additional 286,134 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Hubbell by 52.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 397,321 shares of the industrial products company’s stock worth $130,691,000 after buying an additional 137,179 shares during the period. Institutional investors own 88.16% of the company’s stock.

Insiders Place Their Bets

In related news, Director Carlos M. Cardoso sold 450 shares of Hubbell stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $364.54, for a total transaction of $164,043.00. Following the sale, the director now directly owns 1,670 shares in the company, valued at approximately $608,781.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Hubbell news, CEO Gerben Bakker sold 15,677 shares of the business’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $374.34, for a total value of $5,868,528.18. Following the sale, the chief executive officer now directly owns 66,415 shares in the company, valued at $24,861,791.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Carlos M. Cardoso sold 450 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $364.54, for a total transaction of $164,043.00. Following the sale, the director now directly owns 1,670 shares in the company, valued at approximately $608,781.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by insiders.

Analysts Set New Price Targets

HUBB has been the subject of a number of recent analyst reports. Barclays increased their price target on Hubbell from $368.00 to $400.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Morgan Stanley assumed coverage on Hubbell in a report on Friday, September 6th. They issued an “equal weight” rating and a $407.00 target price for the company. JPMorgan Chase & Co. cut Hubbell from an “overweight” rating to a “neutral” rating and increased their price target for the stock from $385.00 to $454.00 in a report on Thursday. Wells Fargo & Company increased their target price on shares of Hubbell from $400.00 to $445.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Hubbell from a “hold” rating to a “buy” rating and upped their price objective for the company from $431.00 to $441.00 in a report on Friday, September 6th. Five equities research 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 presently has an average rating of “Moderate Buy” and a consensus price target of $423.13.

Hubbell Stock Up 3.0 %

Shares of HUBB traded up $13.12 on Friday, reaching $456.57. The company’s stock had a trading volume of 326,409 shares, compared to its average volume of 447,486. The company has a current ratio of 1.81, a quick ratio of 1.13 and a debt-to-equity ratio of 0.62. The firm has a fifty day moving average of $398.01 and a 200-day moving average of $391.93. The stock has a market capitalization of $24.51 billion, a PE ratio of 33.75, a PEG ratio of 1.67 and a beta of 0.90. Hubbell Incorporated has a twelve month low of $248.37 and a twelve month high of $457.00.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, July 30th. The industrial products company reported $4.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.13. Hubbell had a return on equity of 28.98% and a net margin of 13.14%. The company had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.48 billion. During the same quarter in the previous year, the firm earned $4.07 earnings per share. Hubbell’s quarterly revenue was up 6.3% on a year-over-year basis. Equities analysts predict that Hubbell Incorporated will post 16.41 EPS for the current year.

Hubbell Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were issued a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.07%. The ex-dividend date was Friday, August 30th. Hubbell’s dividend payout ratio (DPR) is presently 36.07%.

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.