Boston Private Wealth LLC trimmed its holdings in Hubbell Incorporated (NYSE:HUBB) by 5.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,496 shares of the industrial products company’s stock after selling 267 shares during the period. Boston Private Wealth LLC’s holdings in Hubbell were worth $591,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Cullen Frost Bankers Inc. boosted 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 worth $27,000 after purchasing an additional 195 shares during the last quarter. Krane Funds Advisors LLC acquired a new stake in shares of Hubbell during the 2nd quarter worth about $27,000. Advisory Services Network LLC boosted 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 worth $42,000 after purchasing an additional 117 shares during the last quarter. CENTRAL TRUST Co boosted 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 worth $45,000 after purchasing an additional 200 shares during the last quarter. Finally, River & Mercantile Asset Management LLP acquired a new stake in shares of Hubbell during the 2nd quarter worth about $46,000. 85.92% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Rodd Richard Ruland sold 3,594 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $143.96, for a total value of $517,392.24. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Joseph Anthony Capozzoli sold 1,243 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $142.39, for a total transaction of $176,990.77. Following the completion of the transaction, the vice president now owns 10,812 shares in the company, valued at approximately $1,539,520.68. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.
Shares of HUBB stock opened at $145.50 on Friday. The firm has a market cap of $7.90 billion, a P/E ratio of 19.96, a PEG ratio of 1.94 and a beta of 1.50. Hubbell Incorporated has a 1-year low of $91.88 and a 1-year high of $146.81. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.09 and a quick ratio of 1.33. The firm’s 50-day simple moving average is $135.49 and its 200-day simple moving average is $128.38.
Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $2.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.27 by $0.07. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.21 billion. Hubbell had a net margin of 8.34% and a return on equity of 23.47%. The company’s revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.34 EPS. Analysts expect that Hubbell Incorporated will post 8.07 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.91 per share. This is a positive change from Hubbell’s previous quarterly dividend of $0.84. This represents a $3.64 annualized dividend and a dividend yield of 2.50%. The ex-dividend date is Wednesday, November 27th. Hubbell’s dividend payout ratio is presently 46.09%.
Several equities research analysts have issued reports on HUBB shares. Morgan Stanley set a $138.00 price target on shares of Hubbell and gave the stock a “hold” rating in a research note on Wednesday, July 31st. G.Research reaffirmed a “buy” rating on shares of Hubbell in a research note on Wednesday, August 21st. Zacks Investment Research raised shares of Hubbell from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Gabelli started coverage on shares of Hubbell in a research note on Wednesday, August 21st. They set a “buy” rating and a $160.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price target on shares of Hubbell from $135.00 to $145.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $146.67.
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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