Intech Investment Management LLC increased its holdings in shares of Hubbell Incorporated (NYSE:HUBB – Free Report) by 287.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,490 shares of the industrial products company’s stock after purchasing an additional 4,072 shares during the quarter. Intech Investment Management LLC’s holdings in Hubbell were worth $1,820,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the business. Fifth Third Bancorp lifted its stake in Hubbell by 0.4% during the second quarter. Fifth Third Bancorp now owns 8,664 shares of the industrial products company’s stock worth $2,873,000 after purchasing an additional 34 shares during the last quarter. Simplicity Solutions LLC lifted its stake in Hubbell by 0.6% in the second quarter. Simplicity Solutions LLC now owns 5,887 shares of the industrial products company’s stock valued at $1,952,000 after buying an additional 36 shares during the last quarter. Coldstream Capital Management Inc. lifted its stake in Hubbell by 1.2% in the second quarter. Coldstream Capital Management Inc. now owns 3,427 shares of the industrial products company’s stock valued at $1,136,000 after buying an additional 39 shares during the last quarter. Haverford Trust Co lifted its stake in Hubbell by 3.9% in the second quarter. Haverford Trust Co now owns 1,090 shares of the industrial products company’s stock valued at $361,000 after buying an additional 41 shares during the last quarter. Finally, SeaCrest Wealth Management LLC lifted its stake in Hubbell by 0.3% in the first quarter. SeaCrest Wealth Management LLC now owns 14,595 shares of the industrial products company’s stock valued at $3,551,000 after buying an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 85.97% of the company’s stock.
Insider Buying and Selling at Hubbell
In other news, VP Nero Jonathan M. Del sold 1,902 shares of the company’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $285.54, for a total value of $543,097.08. Following the sale, the vice president now directly owns 3,646 shares in the company, valued at $1,041,078.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.66% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
Hubbell Trading Down 2.1 %
Shares of HUBB stock opened at $289.43 on Thursday. The business’s fifty day moving average price is $300.19 and its 200 day moving average price is $305.04. Hubbell Incorporated has a 1-year low of $219.77 and a 1-year high of $340.06. The firm has a market capitalization of $15.52 billion, a PE ratio of 21.99, a P/E/G ratio of 1.91 and a beta of 0.93. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.16 and a quick ratio of 1.43.
Hubbell (NYSE:HUBB – Get Free Report) last announced its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $3.95 earnings per share for the quarter, missing analysts’ consensus estimates of $4.07 by ($0.12). The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.40 billion. Hubbell had a return on equity of 30.09% and a net margin of 13.56%. The company’s revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the company earned $3.08 EPS. As a group, sell-side analysts forecast that Hubbell Incorporated will post 15.19 EPS for the current fiscal year.
Hubbell Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be issued a $1.22 dividend. This is a positive change from Hubbell’s previous quarterly dividend of $1.12. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $4.88 annualized dividend and a yield of 1.69%. Hubbell’s dividend payout ratio is 34.04%.
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.
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