Kestra Advisory Services LLC lowered its holdings in Hubbell Inc (NYSE:HUBB – Free Report) by 57.0% during the first quarter, Holdings Channel.com reports. The firm owned 2,497 shares of the industrial products company’s stock after selling 3,311 shares during the period. Kestra Advisory Services LLC’s holdings in Hubbell were worth $1,225,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Pinnacle Bancorp Inc. raised its holdings in shares of Hubbell by 165.0% in the first quarter. Pinnacle Bancorp Inc. now owns 53 shares of the industrial products company’s stock valued at $26,000 after buying an additional 33 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Hubbell by 147.8% during the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 57 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 34 shares during the last quarter. NBT Bank N A NY acquired a new stake in Hubbell in the 4th quarter valued at about $27,000. Raiffeisen Bank International AG increased its position in Hubbell by 83.3% in the 4th quarter. Raiffeisen Bank International AG now owns 66 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 30 shares in the last quarter. Finally, Leonteq Securities AG bought a new position in shares of Hubbell in the first quarter worth about $33,000. 88.16% of the stock is currently owned by institutional investors and hedge funds.
Hubbell Price Performance
Shares of HUBB stock opened at $476.99 on Thursday. The firm’s 50 day moving average price is $488.04 and its two-hundred day moving average price is $496.48. 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 Inc has a 52-week low of $403.82 and a 52-week high of $565.50. The stock has a market cap of $25.20 billion, a PE ratio of 28.17, a PEG ratio of 2.40 and a beta of 0.89.
Hubbell Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, June 15th. Shareholders of record on Friday, May 29th were paid a $1.42 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $5.68 annualized dividend and a yield of 1.2%. Hubbell’s dividend payout ratio is presently 33.55%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently issued reports on HUBB shares. Weiss Ratings lowered shares of Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 14th. Wells Fargo & Company boosted their price objective on shares of Hubbell from $530.00 to $560.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Wall Street Zen raised Hubbell from a “hold” rating to a “buy” rating in a report on Saturday, July 18th. Barclays increased their price objective on Hubbell from $481.00 to $503.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th. Finally, Stephens boosted their target price on Hubbell from $550.00 to $600.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $554.38.
Check Out Our Latest Research Report 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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