Tema ETFs LLC boosted its position in Hubbell Inc (NYSE:HUBB – Free Report) by 44.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 52,751 shares of the industrial products company’s stock after acquiring an additional 16,308 shares during the period. Tema ETFs LLC’s holdings in Hubbell were worth $27,599,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in the business. Jones Financial Companies Lllp increased its stake in Hubbell by 171.9% in the first quarter. Jones Financial Companies Lllp now owns 2,401 shares of the industrial products company’s stock valued at $795,000 after purchasing an additional 1,518 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of Hubbell by 18.9% during the 1st quarter. Empowered Funds LLC now owns 1,233 shares of the industrial products company’s stock worth $408,000 after acquiring an additional 196 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Hubbell by 271.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 212 shares of the industrial products company’s stock worth $70,000 after acquiring an additional 155 shares during the period. Acadian Asset Management LLC acquired a new stake in shares of Hubbell in the first quarter worth approximately $599,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Hubbell by 31.1% in the second quarter. EverSource Wealth Advisors LLC now owns 468 shares of the industrial products company’s stock valued at $191,000 after purchasing an additional 111 shares during the period. Hedge funds and other institutional investors own 88.16% of the company’s stock.
Hubbell Stock Performance
Hubbell stock opened at $520.25 on Wednesday. The stock’s 50 day moving average price is $493.73 and its 200 day moving average price is $498.23. The firm has a market capitalization of $27.48 billion, a PE ratio of 30.80, a price-to-earnings-growth ratio of 2.47 and a beta of 0.90. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.93 and a current ratio of 1.61. Hubbell Inc has a one year low of $403.82 and a one year high of $565.50.
Hubbell Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be issued a $1.42 dividend. The ex-dividend date is Monday, August 31st. This represents a $5.68 dividend on an annualized basis and a yield of 1.1%. Hubbell’s payout ratio is currently 33.63%.
Wall Street Analyst Weigh In
HUBB has been the topic of a number of recent analyst reports. Stephens increased their price target on shares of Hubbell from $550.00 to $600.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Hubbell in a report on Wednesday, July 29th. Weiss Ratings downgraded Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 14th. Wall Street Zen lowered Hubbell from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, UBS Group restated a “neutral” rating and issued a $515.00 price objective on shares of Hubbell in a report on Tuesday, June 16th. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, Hubbell has a consensus rating of “Moderate Buy” and a consensus price target of $554.38.
Check Out Our Latest Research Report on Hubbell
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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