Westwood Holdings Group Inc. lessened its holdings in Hubbell Inc (NYSE:HUBB) by 6.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 459,274 shares of the industrial products company’s stock after selling 31,866 shares during the quarter. Westwood Holdings Group Inc. owned about 0.84% of Hubbell worth $52,006,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in HUBB. BlackRock Inc. grew its holdings in Hubbell by 10,789.9% in the first quarter. BlackRock Inc. now owns 4,224,304 shares of the industrial products company’s stock worth $507,129,000 after purchasing an additional 4,185,513 shares during the period. Schroder Investment Management Group grew its holdings in Hubbell by 2,991.4% in the second quarter. Schroder Investment Management Group now owns 537,900 shares of the industrial products company’s stock worth $60,400,000 after purchasing an additional 520,500 shares during the period. Principal Financial Group Inc. grew its holdings in Hubbell by 65.1% in the second quarter. Principal Financial Group Inc. now owns 588,002 shares of the industrial products company’s stock worth $66,545,000 after purchasing an additional 231,936 shares during the period. Cramer Rosenthal Mcglynn LLC grew its holdings in Hubbell by 68.9% in the second quarter. Cramer Rosenthal Mcglynn LLC now owns 544,472 shares of the industrial products company’s stock worth $61,618,000 after purchasing an additional 222,178 shares during the period. Finally, Crawford Investment Counsel Inc. grew its holdings in Hubbell by 735.8% in the second quarter. Crawford Investment Counsel Inc. now owns 247,564 shares of the industrial products company’s stock worth $28,017,000 after purchasing an additional 217,945 shares during the period. Institutional investors and hedge funds own 85.15% of the company’s stock.
A number of equities research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Hubbell from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. JMP Securities assumed coverage on shares of Hubbell in a report on Monday, June 19th. They issued a “market perform” rating on the stock. Morgan Stanley restated an “overweight” rating and issued a $132.00 price objective (up previously from $130.00) on shares of Hubbell in a report on Monday, October 2nd. Wolfe Research assumed coverage on shares of Hubbell in a report on Tuesday, July 11th. They issued a “market perform” rating on the stock. Finally, BidaskClub upgraded shares of Hubbell from a “sell” rating to a “hold” rating in a report on Wednesday, September 27th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $124.00.
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Shares of Hubbell Inc (NYSE:HUBB) traded up 1.926% during midday trading on Thursday, reaching $117.245. 145,736 shares of the company’s stock were exchanged. The stock’s 50 day moving average price is $113.78 and its 200 day moving average price is $115.44. The company has a market cap of $6.41 billion, a price-to-earnings ratio of 22.243 and a beta of 1.04. Hubbell Inc has a 12-month low of $101.15 and a 12-month high of $125.93.
Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.51 EPS for the quarter, beating the consensus estimate of $1.40 by $0.11. Hubbell had a net margin of 8.23% and a return on equity of 19.77%. The business had revenue of $948.30 million during the quarter, compared to analyst estimates of $937.35 million. During the same quarter in the previous year, the business posted $1.53 EPS. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. Equities analysts anticipate that Hubbell Inc will post $5.49 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were issued a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $2.80 annualized dividend and a dividend yield of 2.43%. Hubbell’s dividend payout ratio is currently 53.03%.
Hubbell Incorporated is engaged in the design, manufacture and sale of electrical and electronic products for a range of non-residential and residential construction, industrial and utility applications. The Company’s segments include Electrical and the Power. The Electrical segment consists of businesses that sell stock and custom products, including standard and special application wiring device products, rough-in electrical products, lighting fixtures and controls, components and assemblies for the natural gas distribution market, as well as other electrical equipment.
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