Janus Henderson Group PLC Grows Holdings in Hubbell Inc (NYSE:HUBB)

Janus Henderson Group PLC raised its stake in Hubbell Inc (NYSE:HUBB) by 41.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 192,236 shares of the industrial products company’s stock after buying an additional 55,900 shares during the period. Janus Henderson Group PLC owned about 0.35% of Hubbell worth $21,752,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Riverhead Capital Management LLC increased its holdings in shares of Hubbell by 57.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,998 shares of the industrial products company’s stock worth $339,000 after buying an additional 1,098 shares during the last quarter. Nuance Investments LLC increased its holdings in shares of Hubbell by 141.3% in the 2nd quarter. Nuance Investments LLC now owns 53,387 shares of the industrial products company’s stock worth $6,042,000 after buying an additional 31,260 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Hubbell by 6.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 165,335 shares of the industrial products company’s stock worth $19,849,000 after buying an additional 9,759 shares during the last quarter. Janus Capital Management LLC increased its holdings in shares of Hubbell by 204.9% in the 1st quarter. Janus Capital Management LLC now owns 62,800 shares of the industrial products company’s stock worth $7,539,000 after buying an additional 42,200 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Hubbell by 17.3% in the 2nd quarter. Legal & General Group Plc now owns 61,205 shares of the industrial products company’s stock worth $6,928,000 after buying an additional 9,042 shares during the last quarter. 85.16% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Hubbell Inc (NYSE:HUBB) traded down 0.18% during midday trading on Friday, reaching $125.93. 249,551 shares of the company’s stock traded hands. Hubbell Inc has a one year low of $101.61 and a one year high of $126.92. The company has a 50-day moving average of $116.44 and a 200-day moving average of $115.60. The company has a market capitalization of $6.89 billion, a price-to-earnings ratio of 23.89 and a beta of 1.04.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.15. The firm had revenue of $950.50 million during the quarter, compared to the consensus estimate of $960.28 million. Hubbell had a return on equity of 19.69% and a net margin of 7.96%. The company’s quarterly revenue was up 4.7% on a year-over-year basis. During the same period last year, the company earned $1.63 EPS. Equities research analysts anticipate that Hubbell Inc will post $5.48 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.45%. This is an increase from Hubbell’s previous quarterly dividend of $0.70. The ex-dividend date is Wednesday, November 29th. Hubbell’s dividend payout ratio (DPR) is presently 53.95%.

Hubbell announced that its Board of Directors has initiated a share repurchase program on Friday, October 20th that allows the company to buyback $400.00 million in shares. This buyback authorization allows the industrial products company to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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HUBB has been the topic of a number of research analyst reports. Wolfe Research assumed coverage on shares of Hubbell in a report on Tuesday, July 11th. They issued a “market perform” rating on the stock. Zacks Investment Research raised shares of Hubbell from a “hold” rating to a “buy” rating and set a $128.00 target price on the stock in a report on Wednesday, September 27th. Morgan Stanley reaffirmed an “overweight” rating and set a $132.00 target price (up previously from $130.00) on shares of Hubbell in a report on Monday, October 2nd. Finally, BidaskClub raised shares of Hubbell from a “sell” rating to a “hold” rating in a report on Wednesday, September 27th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $124.00.

Hubbell Profile

Hubbell Incorporated is engaged in the design, manufacture and sale of electrical and electronic products for a range of non-residential and residential construction, industrial and utility applications. The Company’s segments include Electrical and the Power. The Electrical segment consists of businesses that sell stock and custom products, including standard and special application wiring device products, rough-in electrical products, lighting fixtures and controls, components and assemblies for the natural gas distribution market, as well as other electrical equipment.

Institutional Ownership by Quarter for Hubbell (NYSE:HUBB)

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