HM Payson & Co. purchased a new position in shares of Hubbell Incorporated (NYSE:HUBB) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 1,600 shares of the industrial products company’s stock, valued at approximately $209,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Cullen Frost Bankers Inc. raised its stake in shares of Hubbell by 1,950.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 205 shares of the industrial products company’s stock valued at $27,000 after buying an additional 195 shares during the last quarter. Krane Funds Advisors LLC purchased a new position in shares of Hubbell during the 2nd quarter valued at about $27,000. Advisory Services Network LLC raised its stake in shares of Hubbell by 57.1% during the 2nd quarter. Advisory Services Network LLC now owns 322 shares of the industrial products company’s stock valued at $42,000 after buying an additional 117 shares during the last quarter. CENTRAL TRUST Co raised its stake in shares of Hubbell by 125.0% during the 2nd quarter. CENTRAL TRUST Co now owns 360 shares of the industrial products company’s stock valued at $45,000 after buying an additional 200 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new position in shares of Hubbell during the 2nd quarter valued at about $61,000. 85.88% of the stock is owned by institutional investors.
Shares of Hubbell stock traded up $0.09 on Monday, hitting $132.23. The company’s stock had a trading volume of 2,435 shares, compared to its average volume of 278,741. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.22 and a current ratio of 1.98. Hubbell Incorporated has a 1 year low of $91.88 and a 1 year high of $137.97. The firm has a fifty day moving average price of $129.92 and a 200-day moving average price of $125.30. The company has a market capitalization of $7.24 billion, a price-to-earnings ratio of 18.15, a price-to-earnings-growth ratio of 1.76 and a beta of 1.47.
Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.15 by $0.16. Hubbell had a return on equity of 23.63% and a net margin of 8.03%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the previous year, the business earned $2.09 EPS. Hubbell’s revenue for the quarter was up 2.5% compared to the same quarter last year. As a group, analysts forecast that Hubbell Incorporated will post 8.08 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a $0.84 dividend. The ex-dividend date was Thursday, August 29th. This represents a $3.36 annualized dividend and a dividend yield of 2.54%. Hubbell’s dividend payout ratio is presently 46.09%.
In related news, insider Kevin Arthur Poyck sold 1,828 shares of Hubbell stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $127.66, for a total value of $233,362.48. Following the completion of the transaction, the insider now owns 19,822 shares in the company, valued at approximately $2,530,476.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Neal J. Keating purchased 500 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was acquired at an average price of $125.77 per share, with a total value of $62,885.00. Following the purchase, the director now owns 7,578 shares in the company, valued at $953,085.06. The disclosure for this purchase can be found here. 2.20% of the stock is owned by insiders.
A number of equities analysts have weighed in on the company. G.Research reiterated a “buy” rating on shares of Hubbell in a research note on Wednesday, August 21st. Stephens assumed coverage on Hubbell in a research note on Monday, July 8th. They set an “overweight” rating and a $140.00 price objective for the company. Gabelli assumed coverage on Hubbell in a research note on Wednesday, August 21st. They set a “buy” rating and a $160.00 price objective for the company. Morgan Stanley set a $138.00 price objective on Hubbell and gave the company a “hold” rating in a research note on Wednesday, July 31st. Finally, Zacks Investment Research upgraded Hubbell from a “sell” rating to a “hold” rating in a research note on Tuesday, September 10th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $144.33.
Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical 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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