Westwood Holdings Group Inc. raised its holdings in Hubbell Incorporated (NYSE:HUBB) by 7.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 451,542 shares of the industrial products company’s stock after purchasing an additional 32,188 shares during the period. Westwood Holdings Group Inc. owned 0.82% of Hubbell worth $61,112,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Nationwide Fund Advisors grew its stake in Hubbell by 7.9% during the third quarter. Nationwide Fund Advisors now owns 145,014 shares of the industrial products company’s stock valued at $16,825,000 after acquiring an additional 10,640 shares in the last quarter. Prudential Financial Inc. grew its stake in Hubbell by 456.3% during the third quarter. Prudential Financial Inc. now owns 179,749 shares of the industrial products company’s stock valued at $20,854,000 after acquiring an additional 147,440 shares in the last quarter. Global X MANAGEMENT CO LLC grew its stake in Hubbell by 25.0% during the third quarter. Global X MANAGEMENT CO LLC now owns 2,200 shares of the industrial products company’s stock valued at $255,000 after acquiring an additional 440 shares in the last quarter. Retirement Systems of Alabama grew its stake in Hubbell by 4.3% during the third quarter. Retirement Systems of Alabama now owns 111,256 shares of the industrial products company’s stock valued at $12,908,000 after acquiring an additional 4,592 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in Hubbell by 9.5% during the third quarter. Rhumbline Advisers now owns 127,491 shares of the industrial products company’s stock valued at $14,792,000 after acquiring an additional 11,074 shares in the last quarter. Hedge funds and other institutional investors own 85.47% of the company’s stock.
Several brokerages recently commented on HUBB. Zacks Investment Research raised shares of Hubbell from a “hold” rating to a “buy” rating and set a $155.00 price objective for the company in a research note on Tuesday, January 23rd. Morgan Stanley boosted their price objective on shares of Hubbell from $134.00 to $153.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Oppenheimer reaffirmed a “buy” rating and set a $160.00 price objective on shares of Hubbell in a research note on Tuesday, January 30th. Finally, JPMorgan Chase raised shares of Hubbell from a “neutral” rating to an “overweight” rating in a research note on Thursday, January 18th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $152.00.
HUBB stock traded down $2.61 during midday trading on Friday, reaching $117.39. The company had a trading volume of 374,029 shares, compared to its average volume of 474,191. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.27 and a quick ratio of 1.37. Hubbell Incorporated has a 1 year low of $109.32 and a 1 year high of $149.03. The stock has a market cap of $6,435.55, a PE ratio of 19.80, a P/E/G ratio of 1.63 and a beta of 1.03.
Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $1.54 EPS for the quarter, topping the Zacks’ 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 analysts’ expectations of $901.23 million. During the same quarter in the previous year, the company earned $1.35 EPS. The business’s quarterly revenue was up 7.4% compared to the same quarter last year. research analysts expect that Hubbell Incorporated will post 7.18 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th were paid a $0.77 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $3.08 dividend on an annualized basis and a yield of 2.62%. Hubbell’s dividend payout ratio is presently 51.94%.
In other news, VP Stephen M. Mais sold 4,692 shares of the business’s 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 completion of the sale, the vice president now directly owns 16,669 shares in the company, valued at approximately $2,260,149.71. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman David G. Nord sold 12,076 shares of the business’s 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.
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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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