Hubbell Inc (HUBB) Position Cut by Globeflex Capital L P
Globeflex Capital L P reduced its holdings in shares of Hubbell Inc (NYSE:HUBB) by 21.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,691 shares of the industrial products company’s stock after selling 1,300 shares during the period. Globeflex Capital L P’s holdings in Hubbell were worth $531,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also made changes to their positions in HUBB. Vanguard Group Inc. increased its holdings in shares of Hubbell by 2.0% in the second quarter. Vanguard Group Inc. now owns 4,545,258 shares of the industrial products company’s stock valued at $514,386,000 after purchasing an additional 89,275 shares during the period. BlackRock Inc. increased its holdings in shares of Hubbell by 1.4% in the second quarter. BlackRock Inc. now owns 4,282,003 shares of the industrial products company’s stock valued at $484,595,000 after purchasing an additional 57,699 shares during the period. American Century Companies Inc. increased its holdings in shares of Hubbell by 12.0% in the second quarter. American Century Companies Inc. now owns 1,705,855 shares of the industrial products company’s stock valued at $193,052,000 after purchasing an additional 182,968 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Hubbell by 7.8% in the second quarter. Bank of New York Mellon Corp now owns 1,691,911 shares of the industrial products company’s stock valued at $191,474,000 after purchasing an additional 122,855 shares during the period. Finally, State Street Corp increased its holdings in shares of Hubbell by 3.5% in the first quarter. State Street Corp now owns 1,400,471 shares of the industrial products company’s stock valued at $168,122,000 after purchasing an additional 47,665 shares during the period. 85.15% of the stock is currently owned by institutional investors.
A number of research analysts have recently weighed in on the company. Zacks Investment Research raised Hubbell from a “hold” rating to a “buy” rating and set a $128.00 price objective on the stock in a report on Wednesday. BidaskClub raised Hubbell from a “sell” rating to a “hold” rating in a report on Wednesday. Wolfe Research assumed coverage on Hubbell in a report on Tuesday, July 11th. They issued a “market perform” rating on the stock. Finally, JMP Securities assumed coverage on Hubbell in a report on Monday, June 19th. They issued a “market perform” rating on the stock. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Hubbell presently has an average rating of “Hold” and an average target price of $123.67.
Shares of Hubbell Inc (HUBB) opened at 115.79 on Thursday. The company’s 50-day moving average price is $113.69 and its 200 day moving average price is $115.88. Hubbell Inc has a 12-month low of $101.15 and a 12-month high of $125.93. The firm has a market capitalization of $6.33 billion, a price-to-earnings ratio of 21.97 and a beta of 1.03.
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, beating 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 business had revenue of $948.30 million during the quarter, compared to the consensus estimate of $937.35 million. During the same period in the previous year, the business earned $1.53 EPS. The business’s quarterly revenue was up 4.3% on a year-over-year basis. On average, equities research analysts forecast that Hubbell Inc will post $5.51 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.42%. The ex-dividend date was Tuesday, August 29th. Hubbell’s dividend payout ratio (DPR) is presently 53.03%.
Hubbell Company Profile
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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