Granite Investment Partners LLC lowered its holdings in Hubbell Incorporated (NYSE:HUBB) by 1.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,276 shares of the industrial products company’s stock after selling 109 shares during the quarter. Granite Investment Partners LLC’s holdings in Hubbell were worth $623,000 as of its most recent filing with the SEC.
Several other large investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. lifted its position in Hubbell by 16.3% in the 3rd quarter. Russell Investments Group Ltd. now owns 62,035 shares of the industrial products company’s stock valued at $8,286,000 after acquiring an additional 8,679 shares in the last quarter. Penserra Capital Management LLC purchased a new stake in Hubbell in the third quarter worth about $149,000. Prudential Financial Inc. grew its holdings in Hubbell by 106.9% in the third quarter. Prudential Financial Inc. now owns 138,969 shares of the industrial products company’s stock worth $18,562,000 after purchasing an additional 71,790 shares during the period. MML Investors Services LLC grew its holdings in Hubbell by 16.2% in the third quarter. MML Investors Services LLC now owns 3,515 shares of the industrial products company’s stock worth $469,000 after purchasing an additional 490 shares during the period. Finally, Commonwealth Bank of Australia purchased a new stake in Hubbell in the third quarter worth about $681,000. 85.78% of the stock is owned by institutional investors and hedge funds.
A number of research firms have recently commented on HUBB. Zacks Investment Research upgraded shares of Hubbell from a “hold” rating to a “buy” rating and set a $129.00 price target on the stock in a report on Wednesday, February 13th. Morgan Stanley cut shares of Hubbell from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $131.00 to $109.00 in a report on Tuesday, December 18th. ValuEngine upgraded shares of Hubbell from a “sell” rating to a “hold” rating in a report on Wednesday, December 12th. CIBC reiterated a “market perform” rating on shares of Hubbell in a report on Tuesday, January 8th. Finally, Oppenheimer reiterated a “market perform” rating on shares of Hubbell in a report on Tuesday, January 8th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $131.17.
Shares of Hubbell stock opened at $121.33 on Thursday. The company has a market cap of $6.48 billion, a P/E ratio of 16.64, a P/E/G ratio of 1.47 and a beta of 1.44. Hubbell Incorporated has a twelve month low of $91.88 and a twelve month high of $137.67. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.18 and a current ratio of 1.96.
Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, February 5th. The industrial products company reported $1.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.69 by $0.03. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. Hubbell had a net margin of 8.04% and a return on equity of 23.08%. The firm’s revenue for the quarter was up 24.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.54 earnings per share. On average, research analysts anticipate that Hubbell Incorporated will post 8.09 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Thursday, February 28th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Wednesday, February 27th. This represents a $3.36 dividend on an annualized basis and a yield of 2.77%. Hubbell’s dividend payout ratio (DPR) is 46.09%.
Hubbell Company Profile
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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