Renaissance Technologies LLC decreased its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 73.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 69,400 shares of the industrial products company’s stock after selling 193,500 shares during the period. Renaissance Technologies LLC’s holdings in Hubbell were worth $9,393,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. American Century Companies Inc. lifted its holdings in Hubbell by 0.3% during the 4th quarter. American Century Companies Inc. now owns 1,776,319 shares of the industrial products company’s stock valued at $240,407,000 after buying an additional 5,685 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Hubbell by 8.7% in the 4th quarter. Victory Capital Management Inc. now owns 1,093,990 shares of the industrial products company’s stock valued at $148,061,000 after purchasing an additional 87,787 shares in the last quarter. Boston Partners raised its holdings in shares of Hubbell by 3.8% in the 4th quarter. Boston Partners now owns 584,312 shares of the industrial products company’s stock valued at $79,081,000 after purchasing an additional 21,591 shares in the last quarter. BTIM Corp. raised its holdings in shares of Hubbell by 0.8% in the 4th quarter. BTIM Corp. now owns 503,745 shares of the industrial products company’s stock valued at $68,177,000 after purchasing an additional 4,056 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Hubbell by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 445,480 shares of the industrial products company’s stock valued at $60,291,000 after purchasing an additional 23,510 shares in the last quarter. Institutional investors own 85.47% of the company’s stock.
NYSE:HUBB opened at $117.39 on Friday. Hubbell Incorporated has a one year low of $109.32 and a one year high of $149.03. 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 stock has a market capitalization of $6,578.64, a PE ratio of 19.80, a price-to-earnings-growth ratio of 1.67 and a beta of 1.03.
Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.42 by $0.12. Hubbell had a net margin of 6.63% and a return on equity of 20.16%. The business had revenue of $917.70 million during the quarter, compared to analyst estimates of $901.23 million. During the same quarter in the previous year, the business posted $1.35 EPS. The company’s quarterly revenue was up 7.4% compared to the same quarter last year. research analysts forecast that Hubbell Incorporated will post 7.18 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th were given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend was Tuesday, February 27th. Hubbell’s payout ratio is currently 51.94%.
In other news, VP Stephen M. Mais sold 4,692 shares of Hubbell stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $135.59, for a total value of $636,188.28. Following the transaction, the vice president now owns 16,669 shares of the company’s stock, valued at approximately $2,260,149.71. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman David G. Nord sold 12,076 shares of Hubbell stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $133.76, for a total transaction of $1,615,285.76. The disclosure for this sale can be found here. 0.69% of the stock is owned by insiders.
HUBB has been the subject of several recent research reports. JPMorgan Chase restated a “hold” rating on shares of Hubbell in a report on Thursday, December 28th. Zacks Investment Research upgraded shares of Hubbell from a “hold” rating to a “buy” rating and set a $149.00 price target for the company in a report on Thursday, January 4th. Wells Fargo restated a “buy” rating and issued a $143.00 price target (up previously from $136.00) on shares of Hubbell in a report on Wednesday, December 20th. Oppenheimer upgraded shares of Hubbell from a “market perform” rating to an “outperform” rating and set a $160.00 price target for the company in a report on Friday, January 12th. Finally, Morgan Stanley boosted their price target on shares of Hubbell from $134.00 to $153.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $152.00.
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Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, 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 for the natural gas distribution market.
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