Amalgamated Bank cut its holdings in Hubbell Incorporated (NYSE:HUBB – Get Rating) by 3.8% in the first quarter, Holdings Channel.com reports. The fund owned 37,645 shares of the industrial products company’s stock after selling 1,474 shares during the quarter. Amalgamated Bank’s holdings in Hubbell were worth $6,918,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. First Manhattan Co. acquired a new stake in shares of Hubbell in the first quarter worth $28,000. Quent Capital LLC acquired a new stake in shares of Hubbell in the fourth quarter worth $43,000. Covestor Ltd acquired a new stake in shares of Hubbell in the fourth quarter worth $46,000. Parallel Advisors LLC lifted its stake in shares of Hubbell by 150.0% in the first quarter. Parallel Advisors LLC now owns 305 shares of the industrial products company’s stock worth $58,000 after buying an additional 183 shares during the last quarter. Finally, Guardian Wealth Management Inc. acquired a new stake in shares of Hubbell in the fourth quarter worth $69,000. 88.91% of the stock is currently owned by institutional investors and hedge funds.
Hubbell Trading Down 0.5 %
Shares of Hubbell stock opened at $219.11 on Monday. The firm has a market capitalization of $11.76 billion, a PE ratio of 22.61, a price-to-earnings-growth ratio of 2.23 and a beta of 1.17. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.03 and a quick ratio of 1.31. The company’s fifty day moving average price is $210.09 and its two-hundred day moving average price is $195.13. Hubbell Incorporated has a 52-week low of $170.21 and a 52-week high of $227.58.
Hubbell Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were issued a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 1.92%. The ex-dividend date was Tuesday, August 30th. Hubbell’s payout ratio is 43.34%.
Insider Transactions at Hubbell
In other news, insider Allan Connolly sold 5,259 shares of the company’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $221.48, for a total value of $1,164,763.32. Following the sale, the insider now owns 6,400 shares of the company’s stock, valued at approximately $1,417,472. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.82% of the stock is owned by insiders.
Analysts Set New Price Targets
HUBB has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Hubbell from $175.00 to $200.00 in a research note on Thursday, July 28th. Morgan Stanley boosted their target price on shares of Hubbell from $190.00 to $206.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 27th. Wells Fargo & Company boosted their target price on shares of Hubbell to $196.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 27th. Finally, StockNews.com lowered shares of Hubbell from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 9th.
Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical Solution and Utility Solution. 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 for the natural gas distribution market.
- Get a free copy of the StockNews.com research report on Hubbell (HUBB)
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