Virtus Fund Advisers LLC trimmed its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 7.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 284,875 shares of the industrial products company’s stock after selling 22,300 shares during the period. Virtus Fund Advisers LLC owned 0.52% of Hubbell worth $38,555,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Cubist Systematic Strategies LLC purchased a new stake in Hubbell during the 2nd quarter worth $182,000. Advisors Asset Management Inc. boosted its position in Hubbell by 1,122.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,613 shares of the industrial products company’s stock worth $187,000 after purchasing an additional 1,481 shares during the period. Magnetar Financial LLC purchased a new stake in Hubbell during the 3rd quarter worth $221,000. Oakwood Capital Management LLC CA purchased a new position in Hubbell in the 4th quarter valued at about $225,000. Finally, Global X MANAGEMENT CO LLC boosted its position in Hubbell by 25.0% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 2,200 shares of the industrial products company’s stock valued at $255,000 after buying an additional 440 shares during the last quarter. 82.42% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have weighed in on HUBB. Zacks Investment Research cut shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, January 12th. Wolfe Research raised shares of Hubbell from a “market perform” rating to a “buy” rating and set a $160.00 price objective for the company in a research report on Friday, February 9th. JPMorgan Chase & Co. reissued a “hold” rating on shares of Hubbell in a research report on Thursday, December 28th. Oppenheimer raised shares of Hubbell from a “market perform” rating to an “outperform” rating and set a $160.00 price objective for the company in a research report on Friday, January 12th. Finally, Wells Fargo & Co reissued a “buy” rating and issued a $143.00 price objective (up from $136.00) on shares of Hubbell in a research report on Wednesday, December 20th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $153.60.
Hubbell Incorporated (NYSE:HUBB) opened at $135.47 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.27 and a quick ratio of 1.37. The firm has a market cap of $7,434.87, a PE ratio of 22.84, a price-to-earnings-growth ratio of 1.88 and a beta of 1.01. Hubbell Incorporated has a 12-month low of $109.32 and a 12-month high of $149.03.
Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $1.54 earnings per share for the quarter, beating analysts’ consensus estimates of $1.42 by $0.12. The company had revenue of $917.70 million during the quarter, compared to analysts’ expectations of $901.23 million. Hubbell had a net margin of 6.63% and a return on equity of 20.16%. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.35 EPS. equities research analysts predict that Hubbell Incorporated will post 7.2 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be paid a $0.77 dividend. The ex-dividend date is Tuesday, February 27th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.27%. Hubbell’s dividend payout ratio (DPR) is presently 70.00%.
In other news, Chairman David G. Nord sold 12,076 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $133.76, for a total value of $1,615,285.76. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.28% of the company’s stock.
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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.
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