Swiss National Bank lessened its stake in Hubbell Incorporated (NYSE:HUBB – Free Report) by 9.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 193,500 shares of the industrial products company’s stock after selling 19,700 shares during the period. Swiss National Bank owned about 0.36% of Hubbell worth $64,157,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Fifth Third Bancorp grew its position in shares of Hubbell by 0.4% during the 2nd quarter. Fifth Third Bancorp now owns 8,664 shares of the industrial products company’s stock worth $2,873,000 after buying an additional 34 shares during the period. Simplicity Solutions LLC increased 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 purchasing an additional 36 shares in the last quarter. Coldstream Capital Management Inc. increased 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 purchasing an additional 39 shares in the last quarter. Haverford Trust Co raised its holdings in shares of Hubbell by 3.9% during the second quarter. Haverford Trust Co now owns 1,090 shares of the industrial products company’s stock valued at $361,000 after purchasing an additional 41 shares during the period. Finally, SeaCrest Wealth Management LLC boosted its position in shares of Hubbell by 0.3% during the 1st quarter. SeaCrest Wealth Management LLC now owns 14,595 shares of the industrial products company’s stock worth $3,551,000 after purchasing an additional 42 shares in the last quarter. Institutional investors own 85.97% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on HUBB. Seaport Res Ptn reaffirmed a “buy” rating on shares of Hubbell in a research report on Wednesday, November 8th. StockNews.com started coverage on Hubbell in a report on Thursday, October 5th. They issued a “buy” rating on the stock. Stephens reissued an “overweight” rating and issued a $375.00 price target on shares of Hubbell in a research report on Wednesday, November 1st. Mizuho upped their price objective on shares of Hubbell from $300.00 to $370.00 in a report on Wednesday, July 26th. Finally, Wolfe Research upgraded shares of Hubbell from an “underperform” rating to a “peer perform” rating in a report on Friday, August 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $280.86.
Hubbell Trading Down 2.1 %
Shares of Hubbell stock opened at $289.43 on Thursday. The stock has a fifty day simple moving average of $300.19 and a 200 day simple moving average of $305.04. Hubbell Incorporated has a 12-month low of $219.77 and a 12-month high of $340.06. The company has a market capitalization of $15.52 billion, a P/E ratio of 21.99, a price-to-earnings-growth ratio of 1.91 and a beta of 0.93. The company has a current ratio of 2.16, a quick ratio of 1.43 and a debt-to-equity ratio of 0.52.
Hubbell (NYSE:HUBB – Get Free Report) last announced its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $3.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.07 by ($0.12). Hubbell had a return on equity of 30.09% and a net margin of 13.56%. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter last year, the company posted $3.08 EPS. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Hubbell Incorporated will post 15.19 earnings per share for the current fiscal year.
Hubbell Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be issued a dividend of $1.22 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $4.88 annualized dividend and a yield of 1.69%. This is an increase from Hubbell’s previous quarterly dividend of $1.12. Hubbell’s dividend payout ratio is 34.04%.
Insider Buying and Selling
In other Hubbell 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 completion of the transaction, the vice president now owns 3,646 shares in the company, valued at approximately $1,041,078.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.66% of the stock is currently owned by corporate insiders.
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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