Mizuho Securities USA LLC Has $1.42 Million Holdings in Hubbell Inc (NYSE:HUBB)

Key Points

• Mizuho Securities USA LLC has reduced its holdings in Hubbell Inc by 15.5%, now owning 4,297 shares valued at approximately $1.42 million.
• Hubbell reported earnings of $4.93 per share for the last quarter, surpassing the analysts' estimate of $4.36, while the company's revenue was reported at $1.48 billion against an expected $1.51 billion.
• The company declared a quarterly dividend of $1.32 per share, reflecting a 1.2% yield, with the payout date set for September 15th.

Mizuho Securities USA LLC lowered its holdings in Hubbell Inc (NYSE:HUBB - Free Report) by 15.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,297 shares of the industrial products company's stock after selling 790 shares during the period. Mizuho Securities USA LLC's holdings in Hubbell were worth $1,422,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Deutsche Bank AG grew its position in shares of Hubbell by 35.1% in the 1st quarter. Deutsche Bank AG now owns 1,104,085 shares of the industrial products company's stock worth $365,353,000 after acquiring an additional 287,047 shares in the last quarter. Marshall Wace LLP lifted its stake in Hubbell by 418.1% during the fourth quarter. Marshall Wace LLP now owns 307,050 shares of the industrial products company's stock worth $128,620,000 after purchasing an additional 247,786 shares during the last quarter. Bain Capital Public Equity Management II LLC acquired a new position in Hubbell in the fourth quarter worth $95,868,000. GAMMA Investing LLC increased its stake in Hubbell by 52,429.8% during the first quarter. GAMMA Investing LLC now owns 192,259 shares of the industrial products company's stock valued at $636,200,000 after purchasing an additional 191,893 shares during the last quarter. Finally, PointState Capital LP acquired a new stake in shares of Hubbell during the 4th quarter worth approximately $78,443,000. 88.16% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on HUBB shares. Wall Street Zen upgraded shares of Hubbell from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. JPMorgan Chase & Co. increased their price objective on Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Barclays raised their target price on Hubbell from $420.00 to $431.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Finally, Wells Fargo & Company boosted their price target on Hubbell from $420.00 to $445.00 and gave the stock an "equal weight" rating in a research report on Wednesday, July 30th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $462.29.

Insider Buying and Selling at Hubbell

In related news, Director Carlos M. Cardoso sold 400 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $386.29, for a total value of $154,516.00. Following the completion of the sale, the director directly owned 1,727 shares in the company, valued at approximately $667,122.83. This trade represents a 18.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.66% of the stock is owned by corporate insiders.

Hubbell Trading Down 1.3%

HUBB traded down $5.83 during mid-day trading on Thursday, hitting $438.12. The stock had a trading volume of 473,414 shares, compared to its average volume of 614,057. Hubbell Inc has a 1-year low of $299.42 and a 1-year high of $481.35. The stock's fifty day simple moving average is $415.49 and its 200-day simple moving average is $382.70. The firm has a market capitalization of $23.28 billion, a price-to-earnings ratio of 28.45, a price-to-earnings-growth ratio of 2.48 and a beta of 0.99. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.30 and a quick ratio of 0.76.

Hubbell (NYSE:HUBB - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $4.93 EPS for the quarter, topping the consensus estimate of $4.36 by $0.57. Hubbell had a net margin of 14.76% and a return on equity of 27.63%. The firm had revenue of $1.48 billion for the quarter, compared to analysts' expectations of $1.51 billion. As a group, research analysts forecast that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a dividend of $1.32 per share. The ex-dividend date is Friday, August 29th. This represents a $5.28 annualized dividend and a dividend yield of 1.2%. Hubbell's payout ratio is currently 34.29%.

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.