State of Alaska Department of Revenue boosted its stake in Hubbell Incorporated (NYSE:HUBB) by 55.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,685 shares of the industrial products company’s stock after buying an additional 3,455 shares during the quarter. State of Alaska Department of Revenue’s holdings in Hubbell were worth $1,272,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of HUBB. Cullen Frost Bankers Inc. lifted its stake in Hubbell by 1,950.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 205 shares of the industrial products company’s stock valued at $27,000 after buying an additional 195 shares in the last quarter. Krane Funds Advisors LLC purchased a new position in Hubbell in the 2nd quarter valued at about $27,000. Advisory Services Network LLC lifted its stake in Hubbell by 57.1% in the 2nd quarter. Advisory Services Network LLC now owns 322 shares of the industrial products company’s stock valued at $42,000 after buying an additional 117 shares in the last quarter. CENTRAL TRUST Co lifted its stake in Hubbell by 125.0% in the 2nd quarter. CENTRAL TRUST Co now owns 360 shares of the industrial products company’s stock valued at $45,000 after buying an additional 200 shares in the last quarter. Finally, River & Mercantile Asset Management LLP purchased a new position in Hubbell in the 2nd quarter valued at about $46,000. 85.88% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Kevin Arthur Poyck sold 1,828 shares of Hubbell stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $127.66, for a total value of $233,362.48. Following the completion of the sale, the insider now owns 19,822 shares in the company, valued at approximately $2,530,476.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Stephen M. Mais sold 2,000 shares of Hubbell stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $127.41, for a total transaction of $254,820.00. Following the completion of the sale, the vice president now owns 14,784 shares of the company’s stock, valued at approximately $1,883,629.44. The disclosure for this sale can be found here. 2.20% of the stock is owned by company insiders.
Shares of NYSE HUBB opened at $132.15 on Friday. The company has a 50 day simple moving average of $130.98 and a 200-day simple moving average of $126.01. The company has a market capitalization of $7.06 billion, a P/E ratio of 18.13, a P/E/G ratio of 1.72 and a beta of 1.48. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.98 and a quick ratio of 1.22. Hubbell Incorporated has a 1 year low of $91.88 and a 1 year high of $137.97.
Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, July 30th. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.15 by $0.16. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.21 billion. Hubbell had a net margin of 8.03% and a return on equity of 23.63%. The business’s revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.09 EPS. As a group, research analysts expect that Hubbell Incorporated will post 8.08 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a dividend of $0.84 per share. The ex-dividend date was Thursday, August 29th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.54%. Hubbell’s dividend payout ratio is currently 46.09%.
HUBB has been the topic of a number of research reports. JPMorgan Chase & Co. raised their target price on shares of Hubbell from $135.00 to $145.00 and gave the stock an “overweight” rating in a research note on Thursday. Stephens initiated coverage on shares of Hubbell in a research note on Monday, July 8th. They issued an “overweight” rating and a $140.00 target price on the stock. Gabelli initiated coverage on shares of Hubbell in a research note on Wednesday, August 21st. They issued a “buy” rating and a $160.00 target price on the stock. Morgan Stanley set a $138.00 target price on shares of Hubbell and gave the stock a “hold” rating in a research note on Wednesday, July 31st. Finally, G.Research reissued a “buy” rating on shares of Hubbell in a research note on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $144.43.
Hubbell Company Profile
Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, and other electrical equipment for use in industrial, commercial, and institutional facilities by electrical contractors, maintenance personnel, electricians, utilities, and telecommunications companies, as well as components and assemblies for the natural gas distribution market.
Recommended Story: Moving Average (MA)
Want to see what other hedge funds are holding HUBB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hubbell Incorporated (NYSE:HUBB).
Receive News & Ratings for Hubbell Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hubbell and related companies with MarketBeat.com's FREE daily email newsletter.