Mirae Asset Global Investments Co. Ltd. Has $7.69 Million Position in Hubbell Inc (NYSE:HUBB)

Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 375.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 23,232 shares of the industrial products company's stock after acquiring an additional 18,345 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Hubbell were worth $7,688,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in HUBB. Creative Financial Designs Inc. ADV boosted its stake in Hubbell by 85.7% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 65 shares of the industrial products company's stock worth $27,000 after acquiring an additional 30 shares during the last quarter. Johnson Financial Group Inc. raised its holdings in Hubbell by 166.7% in the fourth quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock worth $44,000 after purchasing an additional 65 shares during the period. NBC Securities Inc. bought a new position in shares of Hubbell during the first quarter worth $49,000. CX Institutional bought a new position in shares of Hubbell during the first quarter worth $49,000. Finally, Intact Investment Management Inc. acquired a new position in shares of Hubbell in the 1st quarter valued at $66,000. Institutional investors own 88.16% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on HUBB shares. Wells Fargo & Company set a $420.00 price objective on Hubbell and gave the stock an "equal weight" rating in a research note on Tuesday. Barclays raised their price target on Hubbell from $400.00 to $414.00 and gave the stock an "equal weight" rating in a research report on Monday, June 9th. JPMorgan Chase & Co. boosted their price objective on Hubbell from $352.00 to $417.00 and gave the company a "neutral" rating in a research report on Friday, May 16th. Finally, Wall Street Zen downgraded shares of Hubbell from a "buy" rating to a "hold" rating in a report on Friday, April 11th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Hubbell presently has an average rating of "Hold" and a consensus price target of $455.50.

Insider Buying and Selling at Hubbell

In related news, CEO Gerben Bakker sold 7,723 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $384.63, for a total value of $2,970,497.49. Following the transaction, the chief executive officer owned 82,101 shares in the company, valued at approximately $31,578,507.63. This trade represents a 8.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Carlos M. Cardoso sold 400 shares of Hubbell stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $386.29, for a total transaction of $154,516.00. Following the completion of the transaction, the director directly owned 1,727 shares in the company, valued at $667,122.83. This trade represents a 18.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by company insiders.

Hubbell Stock Down 0.1%

Shares of NYSE HUBB traded down $0.31 during trading hours on Friday, hitting $414.82. The company had a trading volume of 315,849 shares, compared to its average volume of 532,765. Hubbell Inc has a 1-year low of $299.43 and a 1-year high of $481.35. The company has a quick ratio of 0.73, a current ratio of 1.17 and a debt-to-equity ratio of 0.32. The firm's 50 day moving average is $385.54 and its 200-day moving average is $383.71. The stock has a market capitalization of $22.14 billion, a P/E ratio of 28.07, a price-to-earnings-growth ratio of 1.45 and a beta of 0.99.

Hubbell (NYSE:HUBB - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The industrial products company reported $3.50 EPS for the quarter, missing analysts' consensus estimates of $3.73 by ($0.23). The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.39 billion. Hubbell had a net margin of 14.29% and a return on equity of 27.68%. The business's revenue was down 2.4% on a year-over-year basis. During the same period last year, the business earned $3.60 EPS. On average, analysts expect that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 30th were issued a $1.32 dividend. This represents a $5.28 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend was Friday, May 30th. Hubbell's dividend payout ratio is 35.72%.

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.