Birch Hill Investment Advisors LLC Maintains Position in Hubbell Inc (HUBB)
Birch Hill Investment Advisors LLC maintained its position in Hubbell Inc (NYSE:HUBB) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,864 shares of the industrial products company’s stock at the end of the 2nd quarter. Birch Hill Investment Advisors LLC’s holdings in Hubbell were worth $211,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in HUBB. BlackRock Inc. boosted its stake in Hubbell by 10,789.9% in the 1st quarter. BlackRock Inc. now owns 4,224,304 shares of the industrial products company’s stock worth $507,129,000 after purchasing an additional 4,185,513 shares in the last quarter. Schroder Investment Management Group lifted its stake in Hubbell by 2,991.4% during the 2nd quarter. Schroder Investment Management Group now owns 537,900 shares of the industrial products company’s stock valued at $60,400,000 after acquiring an additional 520,500 shares during the period. Principal Financial Group Inc. lifted its stake in Hubbell by 65.1% during the 2nd quarter. Principal Financial Group Inc. now owns 588,002 shares of the industrial products company’s stock valued at $66,545,000 after acquiring an additional 231,936 shares during the period. Crawford Investment Counsel Inc. lifted its stake in Hubbell by 735.8% during the 2nd quarter. Crawford Investment Counsel Inc. now owns 247,564 shares of the industrial products company’s stock valued at $28,017,000 after acquiring an additional 217,945 shares during the period. Finally, Vanguard Group Inc. lifted its stake in Hubbell by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 4,455,983 shares of the industrial products company’s stock valued at $534,940,000 after acquiring an additional 201,437 shares during the period. Institutional investors own 85.15% of the company’s stock.
Hubbell Inc (HUBB) traded down 0.14% during trading on Tuesday, hitting $113.82. 25,622 shares of the company traded hands. The firm has a market cap of $6.23 billion, a price-to-earnings ratio of 21.59 and a beta of 1.03. The company’s 50-day moving average is $113.86 and its 200 day moving average is $115.93. Hubbell Inc has a 52-week low of $101.15 and a 52-week high of $125.93.
Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.11. Hubbell had a return on equity of 19.77% and a net margin of 8.23%. The firm had revenue of $948.30 million during the quarter, compared to the consensus estimate of $937.35 million. During the same period last year, the company earned $1.53 earnings per share. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities analysts anticipate that Hubbell Inc will post $5.51 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend was Tuesday, August 29th. Hubbell’s dividend payout ratio is presently 53.03%.
Several analysts have commented on the stock. BidaskClub upgraded shares of Hubbell from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. JMP Securities assumed coverage on shares of Hubbell in a research note on Monday, June 19th. They set a “market perform” rating for the company. Zacks Investment Research upgraded shares of Hubbell from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Finally, Wolfe Research assumed coverage on shares of Hubbell in a research note on Tuesday, July 11th. They set a “market perform” rating for the company. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. Hubbell presently has a consensus rating of “Hold” and a consensus target price of $126.67.
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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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