Moore Capital Management LP increased its holdings in Hubbell Inc (NYSE:HUBB – Free Report) by 100.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 67,900 shares of the industrial products company’s stock after buying an additional 33,950 shares during the period. Moore Capital Management LP’s holdings in Hubbell were worth $30,155,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also modified their holdings of the business. BSW Wealth Partners increased its stake in Hubbell by 2.9% in the 4th quarter. BSW Wealth Partners now owns 769 shares of the industrial products company’s stock valued at $341,000 after buying an additional 22 shares during the period. GAMMA Investing LLC increased its stake in Hubbell by 2.2% in the 4th quarter. GAMMA Investing LLC now owns 1,065 shares of the industrial products company’s stock valued at $473,000 after buying an additional 23 shares during the period. Ballentine Partners LLC increased its stake in Hubbell by 1.9% in the 4th quarter. Ballentine Partners LLC now owns 1,288 shares of the industrial products company’s stock valued at $572,000 after buying an additional 24 shares during the period. Benjamin Edwards Inc. increased its stake in Hubbell by 2.0% in the 2nd quarter. Benjamin Edwards Inc. now owns 1,237 shares of the industrial products company’s stock valued at $505,000 after buying an additional 24 shares during the period. Finally, Quest Investment Management LLC increased its stake in Hubbell by 1.3% in the 3rd quarter. Quest Investment Management LLC now owns 1,895 shares of the industrial products company’s stock valued at $816,000 after buying an additional 25 shares during the period. 88.16% of the stock is owned by institutional investors and hedge funds.
Hubbell Price Performance
Shares of NYSE HUBB opened at $508.83 on Thursday. The firm has a market capitalization of $26.89 billion, a P/E ratio of 30.05, a PEG ratio of 2.53 and a beta of 0.91. Hubbell Inc has a one year low of $385.91 and a one year high of $565.50. The company’s fifty day moving average is $501.65 and its two-hundred day moving average is $486.86. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.94 and a current ratio of 1.58.
Hubbell Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Investors of record on Friday, May 29th were given a $1.42 dividend. The ex-dividend date was Friday, May 29th. This represents a $5.68 annualized dividend and a dividend yield of 1.1%. Hubbell’s payout ratio is currently 33.55%.
Analyst Ratings Changes
Several equities analysts have issued reports on the stock. Barclays boosted their price objective on shares of Hubbell from $481.00 to $503.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. Weiss Ratings cut shares of Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, June 11th. Stephens boosted their price objective on shares of Hubbell from $550.00 to $600.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Wall Street Zen lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Sunday, June 7th. Finally, UBS Group restated a “neutral” rating and set a $515.00 target price on shares of Hubbell in a research report on Tuesday. Five equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $554.38.
View Our Latest Stock Report on HUBB
Hubbell Company Profile
Hubbell Incorporated (NYSE: HUBB) is an industrial manufacturer and distributor of electrical and electronic products serving a range of end markets including commercial and residential construction, industrial, and utility customers. Founded in 1888 by Harvey Hubbell, the company has a long history in electrical innovation and product development and is headquartered in Connecticut. Hubbell designs, manufactures and sells components and systems that enable the distribution and control of electrical power and provide lighting solutions for indoor and outdoor environments.
The company’s offerings span a broad portfolio of products used by contractors, utilities, original equipment manufacturers and facility owners.
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