Alliancebernstein L.P. Lowers Stake in Hubbell Inc (HUBB)
Alliancebernstein L.P. reduced its stake in shares of Hubbell Inc (NYSE:HUBB) by 81.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 40,116 shares of the industrial products company’s stock after selling 179,616 shares during the period. Alliancebernstein L.P. owned approximately 0.07% of Hubbell worth $4,540,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Schwab Charles Investment Management Inc. lifted its holdings in shares of Hubbell by 6.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 165,335 shares of the industrial products company’s stock worth $19,849,000 after acquiring an additional 9,759 shares during the last quarter. Janus Capital Management LLC raised its position in Hubbell by 204.9% in the 1st quarter. Janus Capital Management LLC now owns 62,800 shares of the industrial products company’s stock worth $7,539,000 after purchasing an additional 42,200 shares during the period. Legal & General Group Plc raised its position in Hubbell by 17.3% in the 2nd quarter. Legal & General Group Plc now owns 61,205 shares of the industrial products company’s stock worth $6,928,000 after purchasing an additional 9,042 shares during the period. Nuance Investments LLC raised its position in Hubbell by 141.3% in the 2nd quarter. Nuance Investments LLC now owns 53,387 shares of the industrial products company’s stock worth $6,042,000 after purchasing an additional 31,260 shares during the period. Finally, Brookstone Capital Management purchased a new position in Hubbell in the 2nd quarter worth $261,000. 85.15% of the stock is owned by institutional investors.
COPYRIGHT VIOLATION NOTICE: “Alliancebernstein L.P. Lowers Stake in Hubbell Inc (HUBB)” was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this article on another site, it was copied illegally and republished in violation of US and international copyright & trademark laws. The correct version of this article can be read at https://www.thecerbatgem.com/2017/10/04/alliancebernstein-l-p-lowers-stake-in-hubbell-inc-hubb.html.
Several analysts have issued reports on HUBB shares. JMP Securities assumed coverage on shares of Hubbell in a research report on Monday, June 19th. They set a “market perform” rating for the company. BidaskClub raised Hubbell from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. Wolfe Research initiated coverage on Hubbell in a research note on Tuesday, July 11th. They issued a “market perform” rating for the company. Zacks Investment Research cut Hubbell from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, Morgan Stanley restated an “overweight” rating and set a $132.00 price target (up from $130.00) on shares of Hubbell in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $124.00.
Shares of Hubbell Inc (NYSE:HUBB) opened at 117.54 on Wednesday. The company has a market capitalization of $6.43 billion, a price-to-earnings ratio of 22.30 and a beta of 1.04. Hubbell Inc has a 12-month low of $101.15 and a 12-month high of $125.93. The company’s 50-day moving average is $112.99 and its 200-day moving average is $115.48.
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 firm had revenue of $948.30 million for the quarter, compared to the consensus estimate of $937.35 million. Hubbell had a net margin of 8.23% and a return on equity of 19.77%. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.53 EPS. Analysts predict that Hubbell Inc will post $5.50 EPS 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 given a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $2.80 annualized dividend and a yield of 2.38%. Hubbell’s dividend payout ratio is currently 53.03%.
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.
Want to see what other hedge funds are holding HUBB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hubbell Inc (NYSE:HUBB).
Receive News & Stock Ratings for Hubbell Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hubbell Inc and related stocks with our FREE daily email newsletter.