Vestmark Advisory Solutions Inc. trimmed its position in Hubbell Incorporated (NYSE:HUBB) by 4.6% in the third quarter, HoldingsChannel reports. The firm owned 1,676 shares of the industrial products company’s stock after selling 80 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Hubbell were worth $220,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Cullen Frost Bankers Inc. grew its position in Hubbell by 1,950.0% in 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 in the last quarter. Krane Funds Advisors LLC bought a new stake in Hubbell in the 2nd quarter worth about $27,000. Advisory Services Network LLC grew its position in Hubbell by 57.1% in 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 in the last quarter. River & Mercantile Asset Management LLP bought a new stake in Hubbell in the 2nd quarter worth about $46,000. Finally, CENTRAL TRUST Co grew its position in Hubbell by 125.0% in 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 in the last quarter. 86.02% of the stock is owned by institutional investors and hedge funds.
HUBB has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of Hubbell from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. upped their price objective on shares of Hubbell from $135.00 to $145.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Morgan Stanley set a $138.00 price objective on shares of Hubbell and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Gabelli initiated coverage on shares of Hubbell in a research report on Wednesday, August 21st. They issued a “buy” rating and a $160.00 price objective for the company. Finally, G.Research reaffirmed a “buy” rating on shares of Hubbell in a research report on Wednesday, August 21st. Five research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Hubbell has an average rating of “Buy” and an average target price of $146.67.
HUBB opened at $148.71 on Friday. The company has a quick ratio of 1.33, a current ratio of 2.09 and a debt-to-equity ratio of 0.89. The stock has a market cap of $7.96 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 1.96 and a beta of 1.50. Hubbell Incorporated has a twelve month low of $91.88 and a twelve month high of $149.31. The company’s 50-day moving average price is $137.23 and its two-hundred day moving average price is $129.03.
Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, October 29th. The industrial products company reported $2.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.27 by $0.07. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Hubbell had a net margin of 8.34% and a return on equity of 23.47%. The company’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $2.34 earnings per share. As a group, sell-side analysts anticipate that Hubbell Incorporated will post 8.06 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 29th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.45%. This is a boost from Hubbell’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Wednesday, November 27th. Hubbell’s payout ratio is presently 46.09%.
In related news, VP Joseph Anthony Capozzoli sold 1,243 shares of the company’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 sale, the vice president now directly owns 10,812 shares in the company, valued at approximately $1,539,520.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Rodd Richard Ruland sold 3,594 shares of the company’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 transaction of $517,392.24. The disclosure for this sale can be found here. 2.20% of the stock is owned by insiders.
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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