Quantitative Investment Management LLC Acquires Shares of 38,900 Hubbell Incorporated (HUBB)
Quantitative Investment Management LLC acquired a new stake in Hubbell Incorporated (NYSE:HUBB) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 38,900 shares of the industrial products company’s stock, valued at approximately $5,264,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in HUBB. Advisors Asset Management Inc. grew its holdings in shares of Hubbell by 1,122.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,613 shares of the industrial products company’s stock valued at $187,000 after acquiring an additional 1,481 shares in the last quarter. Magnetar Financial LLC bought a new position in shares of Hubbell in the 3rd quarter valued at about $221,000. Oakwood Capital Management LLC CA bought a new position in shares of Hubbell in the 4th quarter valued at about $225,000. Global X MANAGEMENT CO LLC grew its holdings in shares of Hubbell by 25.0% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 2,200 shares of the industrial products company’s stock valued at $255,000 after acquiring an additional 440 shares in the last quarter. Finally, Aureus Asset Management LLC acquired a new stake in Hubbell in the 3rd quarter valued at about $255,000. Institutional investors own 85.96% of the company’s stock.
Shares of Hubbell Incorporated (HUBB) opened at $125.54 on Wednesday. Hubbell Incorporated has a one year low of $109.32 and a one year high of $149.03. The stock has a market cap of $6,857.14, a PE ratio of 21.09, a P/E/G ratio of 1.74 and a beta of 1.00. The company has a quick ratio of 1.37, a current ratio of 2.27 and a debt-to-equity ratio of 0.60.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $3.08 annualized dividend and a yield of 2.45%. Hubbell’s dividend payout ratio (DPR) is presently 70.00%.
Several equities research analysts recently issued reports on HUBB shares. Morgan Stanley raised their target price on shares of Hubbell from $134.00 to $153.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Zacks Investment Research downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Thursday, January 25th. JPMorgan Chase & Co. upgraded shares of Hubbell from a “neutral” rating to an “overweight” rating in a research note on Thursday, January 18th. Wells Fargo & Co reiterated a “buy” rating and issued a $143.00 target price (up from $136.00) on shares of Hubbell in a research note on Wednesday, December 20th. Finally, Oppenheimer reiterated a “buy” rating and issued a $160.00 target price on shares of Hubbell in a research note on Tuesday, January 30th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $152.00.
In other Hubbell news, Chairman David G. Nord sold 12,076 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $133.76, for a total transaction of $1,615,285.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Stephen M. Mais sold 4,692 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $135.59, for a total transaction of $636,188.28. Following the sale, the vice president now owns 16,669 shares of the company’s stock, valued at $2,260,149.71. The disclosure for this sale can be found here. Company insiders own 1.28% of the company’s stock.
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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