Hsbc Holdings PLC reduced its position in Hubbell Inc (NYSE:HUBB – Free Report) by 6.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 196,268 shares of the industrial products company’s stock after selling 12,608 shares during the period. Hsbc Holdings PLC’s holdings in Hubbell were worth $96,247,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BSW Wealth Partners grew its holdings in Hubbell by 2.9% during 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 in the last quarter. GAMMA Investing LLC raised its holdings in shares of Hubbell by 2.2% during the 4th quarter. GAMMA Investing LLC now owns 1,065 shares of the industrial products company’s stock worth $473,000 after acquiring an additional 23 shares in the last quarter. Ballentine Partners LLC boosted its position in shares of Hubbell by 1.9% during the 4th quarter. Ballentine Partners LLC now owns 1,288 shares of the industrial products company’s stock valued at $572,000 after acquiring an additional 24 shares during the last quarter. Benjamin Edwards Inc. boosted its position in shares of Hubbell by 2.0% during the 2nd quarter. Benjamin Edwards Inc. now owns 1,237 shares of the industrial products company’s stock valued at $505,000 after acquiring an additional 24 shares during the last quarter. Finally, Quest Investment Management LLC grew its holdings in shares of Hubbell by 1.3% in the third quarter. Quest Investment Management LLC now owns 1,895 shares of the industrial products company’s stock valued at $816,000 after purchasing an additional 25 shares in the last quarter. 88.16% of the stock is owned by institutional investors.
Hubbell Stock Performance
Shares of NYSE:HUBB opened at $489.18 on Monday. The company has a market capitalization of $25.85 billion, a price-to-earnings ratio of 28.89, a price-to-earnings-growth ratio of 2.46 and a beta of 0.89. Hubbell Inc has a 52 week low of $403.82 and a 52 week high of $565.50. The company has a quick ratio of 0.94, a current ratio of 1.58 and a debt-to-equity ratio of 0.54. The firm has a 50 day moving average of $488.41 and a 200 day moving average of $495.73.
Hubbell Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were issued a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Friday, May 29th. Hubbell’s dividend payout ratio (DPR) is currently 33.55%.
Wall Street Analyst Weigh In
Several brokerages recently weighed in on HUBB. Wall Street Zen upgraded shares of Hubbell from a “hold” rating to a “buy” rating in a research report on Saturday. UBS Group reiterated a “neutral” rating and set a $515.00 price objective on shares of Hubbell in a research report on Tuesday, June 16th. Barclays lifted their price objective on shares of Hubbell from $481.00 to $503.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. Wells Fargo & Company boosted their target price on shares of Hubbell from $530.00 to $560.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Finally, Stephens increased their price target on Hubbell from $550.00 to $600.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Five research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $554.38.
Check Out Our Latest Analysis on Hubbell
Hubbell 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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