Swiss National Bank Decreases Stake in Hubbell Incorporated (NYSE:HUBB)

Swiss National Bank lessened its stake in shares of Hubbell Incorporated (NYSE:HUBBFree Report) by 10.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 172,400 shares of the industrial products company’s stock after selling 21,100 shares during the quarter. Swiss National Bank owned approximately 0.32% of Hubbell worth $54,032,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in Hubbell during the 2nd quarter valued at $28,000. First Manhattan Co. bought a new stake in Hubbell during the 1st quarter valued at $28,000. IFP Advisors Inc boosted its position in Hubbell by 120.6% during the 2nd quarter. IFP Advisors Inc now owns 289 shares of the industrial products company’s stock valued at $31,000 after acquiring an additional 158 shares in the last quarter. Atlas Capital Advisors LLC purchased a new stake in shares of Hubbell during the 4th quarter valued at $40,000. Finally, Coppell Advisory Solutions Corp. acquired a new stake in shares of Hubbell in the 4th quarter worth $47,000. Institutional investors own 85.97% of the company’s stock.

Hubbell Stock Performance

Shares of HUBB stock opened at $350.25 on Wednesday. The stock has a market cap of $18.78 billion, a PE ratio of 24.93, a price-to-earnings-growth ratio of 2.14 and a beta of 0.92. The business has a 50-day simple moving average of $324.41 and a 200-day simple moving average of $311.61. The company has a quick ratio of 1.01, a current ratio of 1.64 and a debt-to-equity ratio of 0.70. Hubbell Incorporated has a 52-week low of $219.77 and a 52-week high of $356.38.

Hubbell (NYSE:HUBBGet Free Report) last issued its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $3.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.58 by $0.11. The business had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Hubbell had a return on equity of 30.82% and a net margin of 14.14%. The company’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.60 EPS. On average, equities analysts expect that Hubbell Incorporated will post 16.39 EPS for the current year.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Thursday, February 29th will be issued a $1.22 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $4.88 annualized dividend and a dividend yield of 1.39%. Hubbell’s dividend payout ratio (DPR) is presently 34.73%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on HUBB. StockNews.com cut Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Stephens reissued an “overweight” rating and issued a $375.00 price objective on shares of Hubbell in a research report on Wednesday, November 1st. Seaport Res Ptn reissued a “buy” rating on shares of Hubbell in a research report on Wednesday, November 8th. Barclays lifted their price target on Hubbell from $330.00 to $340.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. Finally, TD Cowen initiated coverage on Hubbell in a research report on Friday, December 8th. They set an “outperform” rating and a $338.00 price target for the company. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $353.00.

Check Out Our Latest Report on HUBB

Insider Activity at Hubbell

In other Hubbell news, Director John F. Malloy purchased 797 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was purchased at an average price of $313.50 per share, for a total transaction of $249,859.50. Following the purchase, the director now directly owns 17,923 shares in the company, valued at $5,618,860.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Hubbell news, VP Nero Jonathan M. Del sold 1,098 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $352.74, for a total transaction of $387,308.52. Following the completion of the sale, the vice president now directly owns 3,646 shares in the company, valued at approximately $1,286,090.04. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director John F. Malloy acquired 797 shares of the business’s stock in a transaction on Monday, December 11th. The shares were purchased at an average price of $313.50 per share, with a total value of $249,859.50. Following the completion of the purchase, the director now owns 17,923 shares in the company, valued at approximately $5,618,860.50. The disclosure for this purchase can be found here. Insiders sold a total of 29,378 shares of company stock worth $10,371,735 in the last 90 days. Corporate insiders own 0.66% of the company’s stock.

Hubbell Profile

(Free Report)

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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Institutional Ownership by Quarter for Hubbell (NYSE:HUBB)

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