Hubbell Inc (HUBB) Shares Bought by WBI Investments Inc.
WBI Investments Inc. increased its position in Hubbell Inc (NYSE:HUBB) by 249.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 44,994 shares of the industrial products company’s stock after purchasing an additional 32,101 shares during the quarter. WBI Investments Inc. owned approximately 0.08% of Hubbell worth $5,092,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HUBB. Meeder Asset Management Inc. lifted its stake in shares of Hubbell by 2,397.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 974 shares of the industrial products company’s stock valued at $110,000 after purchasing an additional 935 shares during the period. TLP Group LLC purchased a new position in shares of Hubbell in the 1st quarter valued at approximately $126,000. Global X Management Co. LLC lifted its stake in shares of Hubbell by 220.0% in the 2nd quarter. Global X Management Co. LLC now owns 1,760 shares of the industrial products company’s stock valued at $199,000 after purchasing an additional 1,210 shares during the period. Flinton Capital Management LLC lifted its stake in shares of Hubbell by 7.1% in the 1st quarter. Flinton Capital Management LLC now owns 1,696 shares of the industrial products company’s stock valued at $204,000 after purchasing an additional 112 shares during the period. Finally, Tocqueville Asset Management L.P. purchased a new position in shares of Hubbell in the 1st quarter valued at approximately $204,000. Institutional investors own 85.53% of the company’s stock.
Hubbell Inc (HUBB) traded down 0.29% on Wednesday, reaching $114.49. The company had a trading volume of 17,190 shares. The company has a market capitalization of $6.26 billion, a P/E ratio of 21.72 and a beta of 1.03. Hubbell Inc has a 52 week low of $101.15 and a 52 week high of $125.93. The stock’s 50-day moving average is $114.54 and its 200-day moving average is $116.16.
Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, July 25th. The industrial products company reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.40 by $0.11. The company had revenue of $948.30 million during the quarter, compared to analyst estimates of $937.35 million. Hubbell had a return on equity of 19.77% and a net margin of 8.23%. Hubbell’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.53 earnings per share. Equities research analysts forecast that Hubbell Inc will post $5.51 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be issued a dividend of $0.70 per share. The ex-dividend date is Tuesday, August 29th. This represents a $2.80 dividend on an annualized basis and a yield of 2.44%. Hubbell’s dividend payout ratio is currently 53.03%.
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A number of research analysts have recently commented on the company. Wolfe Research assumed coverage on Hubbell in a research note on Tuesday, July 11th. They issued a “market perform” rating for the company. Zacks Investment Research upgraded Hubbell from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. BidaskClub upgraded Hubbell from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. Finally, JMP Securities assumed coverage on Hubbell in a research note on Monday, June 19th. They issued a “market perform” rating for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company’s stock. Hubbell currently has an average rating of “Hold” and an average target price of $126.67.
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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