Federated Investors Inc. PA trimmed its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 14.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,548 shares of the industrial products company’s stock after selling 3,007 shares during the period. Federated Investors Inc. PA’s holdings in Hubbell were worth $1,961,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of the stock. Legal & General Group Plc raised its position in Hubbell by 0.7% during the first quarter. Legal & General Group Plc now owns 74,028 shares of the industrial products company’s stock valued at $9,016,000 after buying an additional 479 shares during the period. Mason Street Advisors LLC raised its position in Hubbell by 1.9% during the first quarter. Mason Street Advisors LLC now owns 27,475 shares of the industrial products company’s stock valued at $3,346,000 after buying an additional 525 shares during the period. Crossmark Global Holdings Inc. raised its position in Hubbell by 8.3% during the second quarter. Crossmark Global Holdings Inc. now owns 7,317 shares of the industrial products company’s stock valued at $774,000 after buying an additional 560 shares during the period. Suntrust Banks Inc. raised its position in Hubbell by 3.0% during the first quarter. Suntrust Banks Inc. now owns 19,209 shares of the industrial products company’s stock valued at $2,338,000 after buying an additional 565 shares during the period. Finally, OppenheimerFunds Inc. raised its position in Hubbell by 8.1% during the first quarter. OppenheimerFunds Inc. now owns 8,793 shares of the industrial products company’s stock valued at $1,071,000 after buying an additional 656 shares during the period. 91.85% of the stock is currently owned by hedge funds and other institutional investors.
Shares of HUBB stock opened at $133.88 on Tuesday. The company has a current ratio of 1.99, a quick ratio of 1.20 and a debt-to-equity ratio of 1.12. Hubbell Incorporated has a fifty-two week low of $100.55 and a fifty-two week high of $149.03. The stock has a market capitalization of $7.20 billion, a price-to-earnings ratio of 22.58, a PEG ratio of 1.81 and a beta of 1.09.
Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, July 24th. The industrial products company reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.19. Hubbell had a return on equity of 21.57% and a net margin of 6.45%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.12 billion. During the same period in the prior year, the firm posted $1.43 EPS. The business’s revenue was up 23.0% compared to the same quarter last year. equities research analysts expect that Hubbell Incorporated will post 7.28 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 31st were given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 2.30%. The ex-dividend date was Thursday, August 30th. Hubbell’s payout ratio is currently 51.94%.
Several research analysts recently weighed in on HUBB shares. Morgan Stanley started coverage on Hubbell in a research report on Tuesday, August 21st. They set an “overweight” rating and a $133.00 price target on the stock. Wells Fargo & Co reissued an “outperform” rating and set a $140.00 price target (up from $135.00) on shares of Hubbell in a research report on Wednesday, July 25th. Zacks Investment Research lowered Hubbell from a “buy” rating to a “hold” rating in a research report on Friday, August 3rd. ValuEngine lowered Hubbell from a “hold” rating to a “sell” rating in a research report on Friday, August 3rd. Finally, JMP Securities raised Hubbell from a “market perform” rating to an “outperform” rating in a research report on Monday, June 18th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Hubbell currently has an average rating of “Buy” and a consensus target price of $141.17.
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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