First Horizon Advisors Inc. grew its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 12,940.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 652 shares of the industrial products company’s stock after purchasing an additional 647 shares during the period. First Horizon Advisors Inc.’s holdings in Hubbell were worth $118,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of HUBB. HighTower Advisors LLC boosted its position in shares of Hubbell by 4.5% during the 2nd quarter. HighTower Advisors LLC now owns 7,173 shares of the industrial products company’s stock valued at $1,337,000 after purchasing an additional 307 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in shares of Hubbell by 10.3% in the second quarter. O Shaughnessy Asset Management LLC now owns 758 shares of the industrial products company’s stock worth $142,000 after buying an additional 71 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in shares of Hubbell by 60.1% in the second quarter. Rockefeller Capital Management L.P. now owns 690 shares of the industrial products company’s stock worth $128,000 after buying an additional 259 shares during the period. Citigroup Inc. boosted its holdings in shares of Hubbell by 1.9% in the second quarter. Citigroup Inc. now owns 109,213 shares of the industrial products company’s stock worth $20,406,000 after buying an additional 2,010 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in shares of Hubbell by 64.2% in the second quarter. Van ECK Associates Corp now owns 926 shares of the industrial products company’s stock worth $173,000 after buying an additional 362 shares during the period. Institutional investors own 85.06% of the company’s stock.
Several research analysts have commented on the stock. Morgan Stanley decreased their target price on shares of Hubbell from $209.00 to $207.00 and set an “equal weight” rating for the company in a report on Friday. Mizuho assumed coverage on shares of Hubbell in a report on Thursday, December 16th. They issued a “buy” rating and a $240.00 target price for the company. Zacks Investment Research cut shares of Hubbell from a “hold” rating to a “sell” rating in a report on Wednesday, December 29th. Finally, Wells Fargo & Company started coverage on shares of Hubbell in a research report on Thursday, October 7th. They issued an “equal weight” rating and a $192.00 price target for the company.
Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, October 26th. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.05). The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Hubbell had a return on equity of 20.80% and a net margin of 8.03%. Hubbell’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period last year, the company earned $2.30 earnings per share. On average, analysts predict that Hubbell Incorporated will post 8.41 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, December 15th. Stockholders of record on Tuesday, November 30th were given a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.10%. This is a positive change from Hubbell’s previous quarterly dividend of $0.98. The ex-dividend date of this dividend was Monday, November 29th. Hubbell’s dividend payout ratio is 63.44%.
Hubbell, Inc engages in designing, manufacturing and sale of electrical and electronic products for non-residential and residential construction, industrial, and utility applications. It operates though the following segments: Electrical and Utility Solutions. The Electrical segment manufactures and sells wiring and electrical, lighting fixtures and controls for indoor and outdoor applications as well as specialty lighting and communications products.
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