Commonwealth Equity Services LLC raised its position in shares of Hubbell Incorporated (NYSE:HUBB – Get Rating) by 27.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,133 shares of the industrial products company’s stock after purchasing an additional 1,963 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Hubbell were worth $2,143,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. First Manhattan Co. acquired a new stake in Hubbell during the 1st quarter valued at $28,000. Northwest Investment Counselors LLC acquired a new stake in Hubbell during the 4th quarter valued at $32,000. IFP Advisors Inc raised its stake in Hubbell by 25.7% during the 3rd quarter. IFP Advisors Inc now owns 274 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 56 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Hubbell during the 4th quarter valued at $41,000. Finally, Paragon Wealth Strategies LLC acquired a new stake in Hubbell during the 3rd quarter valued at $45,000. 89.71% of the stock is owned by institutional investors and hedge funds.
Insider Activity at Hubbell
In related news, Director Carlos M. Cardoso sold 560 shares of the stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $273.16, for a total value of $152,969.60. Following the completion of the transaction, the director now owns 1,711 shares of the company’s stock, valued at $467,376.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.66% of the stock is owned by corporate insiders.
Hubbell Trading Down 1.3 %
Hubbell (NYSE:HUBB – Get Rating) last issued its quarterly earnings data on Tuesday, April 25th. The industrial products company reported $3.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.46 by $1.15. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.25 billion. Hubbell had a net margin of 11.15% and a return on equity of 27.72%. Hubbell’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.12 earnings per share. Analysts expect that Hubbell Incorporated will post 13.81 EPS for the current fiscal year.
Hubbell Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Wednesday, May 31st will be paid a $1.12 dividend. This represents a $4.48 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Tuesday, May 30th. Hubbell’s payout ratio is presently 42.79%.
Analyst Upgrades and Downgrades
Several analysts have issued reports on the stock. Morgan Stanley boosted their target price on shares of Hubbell from $226.00 to $238.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 1st. Mizuho upped their price target on shares of Hubbell from $252.00 to $300.00 in a research note on Wednesday, April 26th. Wells Fargo & Company dropped their price target on shares of Hubbell from $225.00 to $221.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 13th. JPMorgan Chase & Co. raised shares of Hubbell from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $200.00 to $205.00 in a research note on Wednesday, February 1st. Finally, StockNews.com raised shares of Hubbell from a “buy” rating to a “strong-buy” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Hubbell currently has an average rating of “Hold” and a consensus target price of $237.33.
Hubbell, Inc engages in the designing, manufacturing, and sale of electrical and electronic products for non-residential and residential construction, industrial, and utility applications. It operates through the Electrical Solutions and Utility Solutions segments. The Electrical Solutions segment manufactures and sells wiring and electrical, lighting fixtures, and controls for indoor and outdoor applications as well as specialty lighting and communications products.
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