Arizona State Retirement System increased its holdings in Hubbell Incorporated (NYSE:HUBB – Get Rating) by 0.5% during the 1st quarter, HoldingsChannel reports. The firm owned 14,708 shares of the industrial products company’s stock after buying an additional 72 shares during the period. Arizona State Retirement System’s holdings in Hubbell were worth $2,703,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Steward Partners Investment Advisory LLC boosted its stake in shares of Hubbell by 4.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,245 shares of the industrial products company’s stock valued at $259,000 after buying an additional 54 shares in the last quarter. Avestar Capital LLC boosted its holdings in Hubbell by 4.1% in the first quarter. Avestar Capital LLC now owns 1,372 shares of the industrial products company’s stock valued at $252,000 after purchasing an additional 54 shares during the last quarter. FDx Advisors Inc. lifted its holdings in Hubbell by 3.2% during the 1st quarter. FDx Advisors Inc. now owns 1,742 shares of the industrial products company’s stock worth $320,000 after buying an additional 54 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Hubbell by 0.9% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 7,201 shares of the industrial products company’s stock valued at $1,500,000 after acquiring an additional 61 shares during the period. Finally, Pacer Advisors Inc. increased its position in shares of Hubbell by 1.2% during the 4th quarter. Pacer Advisors Inc. now owns 5,659 shares of the industrial products company’s stock valued at $1,179,000 after purchasing an additional 69 shares during the period. Institutional investors and hedge funds own 86.37% of the company’s stock.
Analyst Ratings Changes
HUBB has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their price objective on Hubbell from $175.00 to $200.00 in a research note on Thursday. Morgan Stanley increased their price objective on shares of Hubbell from $190.00 to $206.00 and gave the stock an “equal weight” rating in a research note on Wednesday. StockNews.com raised shares of Hubbell from a “hold” rating to a “buy” rating in a report on Saturday, April 30th. Finally, Wells Fargo & Company increased their price target on shares of Hubbell to $196.00 and gave the company an “outperform” rating in a research report on Wednesday.
Insider Buying and Selling
In other Hubbell news, Director Carlos M. Cardoso sold 749 shares of the business’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $193.73, for a total transaction of $145,103.77. Following the transaction, the director now owns 1,744 shares in the company, valued at $337,865.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.82% of the stock is currently owned by company insiders.
Hubbell Trading Up 0.9 %
Hubbell stock opened at $219.02 on Friday. The stock has a market cap of $11.75 billion, a P/E ratio of 23.88, a PEG ratio of 2.09 and a beta of 1.11. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.00 and a quick ratio of 1.27. Hubbell Incorporated has a 1 year low of $170.21 and a 1 year high of $220.47. The firm’s 50 day moving average price is $188.25 and its 200-day moving average price is $187.74.
Hubbell (NYSE:HUBB – Get Rating) last announced its quarterly earnings results on Tuesday, July 26th. The industrial products company reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.40. Hubbell had a net margin of 10.77% and a return on equity of 21.89%. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the business posted $2.36 earnings per share. Hubbell’s quarterly revenue was up 19.2% on a year-over-year basis. On average, equities analysts predict that Hubbell Incorporated will post 9.36 earnings per share for the current fiscal year.
Hubbell Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 31st will be given a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 1.92%. The ex-dividend date of this dividend is Tuesday, August 30th. Hubbell’s dividend payout ratio is presently 45.80%.
Hubbell Company Profile
Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical Solution and Utility Solution. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures, 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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