MUFG Americas Holdings Corp bought a new position in shares of Hubbell Incorporated (NYSE:HUBB) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 800 shares of the industrial products company’s stock, valued at approximately $105,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Brinker Capital Inc. increased its position in Hubbell by 1.7% during the third quarter. Brinker Capital Inc. now owns 6,143 shares of the industrial products company’s stock worth $807,000 after buying an additional 103 shares during the last quarter. ACG Wealth increased its position in Hubbell by 4.2% during the third quarter. ACG Wealth now owns 2,734 shares of the industrial products company’s stock worth $359,000 after buying an additional 109 shares during the last quarter. MML Investors Services LLC increased its position in Hubbell by 3.4% during the second quarter. MML Investors Services LLC now owns 3,446 shares of the industrial products company’s stock worth $449,000 after buying an additional 113 shares during the last quarter. Usca Ria LLC increased its position in Hubbell by 0.5% during the third quarter. Usca Ria LLC now owns 21,165 shares of the industrial products company’s stock worth $2,781,000 after buying an additional 114 shares during the last quarter. Finally, ELCO Management Co. LLC increased its position in Hubbell by 2.0% during the second quarter. ELCO Management Co. LLC now owns 6,004 shares of the industrial products company’s stock worth $783,000 after buying an additional 115 shares during the last quarter. Institutional investors and hedge funds own 86.02% of the company’s stock.
Shares of HUBB stock opened at $148.71 on Friday. The company has a current ratio of 2.09, a quick ratio of 1.33 and a debt-to-equity ratio of 0.89. The stock has a market cap of $8.03 billion, a P/E ratio of 18.59, a price-to-earnings-growth ratio of 1.98 and a beta of 1.50. The stock has a 50 day simple moving average of $137.23 and a 200 day simple moving average of $129.03. Hubbell Incorporated has a 1 year low of $91.88 and a 1 year high of $149.31.
Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $2.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.27 by $0.07. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Hubbell had a return on equity of 23.47% and a net margin of 8.34%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.34 earnings per share. Analysts forecast that Hubbell Incorporated will post 8.06 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be paid a $0.91 dividend. This is a boost from Hubbell’s previous quarterly dividend of $0.84. This represents a $3.64 annualized dividend and a dividend yield of 2.45%. The ex-dividend date of this dividend is Wednesday, November 27th. Hubbell’s payout ratio is 46.09%.
In related news, VP Joseph Anthony Capozzoli sold 1,243 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $142.39, for a total value of $176,990.77. Following the completion of the sale, the vice president now directly owns 10,812 shares in the company, valued at $1,539,520.68. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Rodd Richard Ruland sold 3,594 shares of the business’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 disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.
A number of equities analysts have weighed in on the company. Zacks Investment Research raised Hubbell from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. Morgan Stanley set a $138.00 price target on Hubbell and gave the stock a “hold” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. upped their target price on Hubbell from $135.00 to $145.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. G.Research reaffirmed a “buy” rating on shares of Hubbell in a research report on Wednesday, August 21st. Finally, Gabelli assumed coverage on Hubbell in a research report on Wednesday, August 21st. They issued a “buy” rating and a $160.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Hubbell presently has a consensus rating of “Buy” and an average target price of $146.67.
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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