Janus Henderson Group PLC boosted its stake in Hubbell Incorporated (NYSE:HUBB) by 0.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,421 shares of the industrial products company’s stock after purchasing an additional 175 shares during the quarter. Janus Henderson Group PLC owned about 0.09% of Hubbell worth $9,610,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in HUBB. FIL Ltd lifted its stake in Hubbell by 164.1% in the 4th quarter. FIL Ltd now owns 960,006 shares of the industrial products company’s stock worth $150,519,000 after purchasing an additional 596,481 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Hubbell by 1,102.8% in the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 15,300 shares of the industrial products company’s stock worth $2,399,000 after buying an additional 14,028 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Hubbell by 27.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 27,204 shares of the industrial products company’s stock worth $4,265,000 after buying an additional 5,792 shares during the last quarter. LPL Financial LLC increased its holdings in shares of Hubbell by 19.5% in the 4th quarter. LPL Financial LLC now owns 7,620 shares of the industrial products company’s stock worth $1,195,000 after buying an additional 1,245 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its holdings in shares of Hubbell by 5.6% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 4,899 shares of the industrial products company’s stock worth $768,000 after buying an additional 261 shares during the last quarter. Institutional investors and hedge funds own 85.24% of the company’s stock.
A number of analysts have recently weighed in on HUBB shares. Morgan Stanley boosted their target price on shares of Hubbell from $197.00 to $203.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 28th. Zacks Investment Research downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a report on Tuesday, May 4th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $187.75.
Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, April 27th. The industrial products company reported $1.72 EPS for the quarter, beating the consensus estimate of $1.67 by $0.05. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.07 billion. Hubbell had a net margin of 8.48% and a return on equity of 20.42%. The firm’s revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.64 EPS. As a group, analysts predict that Hubbell Incorporated will post 8.46 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, June 15th. Investors of record on Monday, May 31st were issued a dividend of $0.98 per share. The ex-dividend date of this dividend was Thursday, May 27th. This represents a $3.92 annualized dividend and a yield of 1.99%. Hubbell’s payout ratio is 51.72%.
In other Hubbell news, Director Carlos M. Cardoso sold 1,059 shares of the business’s stock in a transaction dated Friday, May 28th. The shares were sold at an average price of $190.28, for a total value of $201,506.52. Following the completion of the sale, the director now directly owns 1,991 shares of the company’s stock, valued at approximately $378,847.48. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Stephen M. Mais sold 3,178 shares of the business’s stock in a transaction dated Friday, April 30th. The shares were sold at an average price of $193.29, for a total transaction of $614,275.62. Following the completion of the sale, the vice president now directly owns 16,146 shares of the company’s stock, valued at $3,120,860.34. The disclosure for this sale can be found here. 1.62% of the stock is owned by insiders.
Hubbell Company Profile
Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and electronic products in the United States and internationally. The company operates through two segments, Electrical Solution and Utility Solution. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, and other electrical equipment for use in industrial, commercial, and institutional facilities by electrical contractors, maintenance personnel, electricians, utilities, and telecommunications companies, as well as components and assemblies for the natural gas distribution market.
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