21,611 Shares in Hubbell Inc (HUBB) Acquired by Ngam Advisors L.P.

Ngam Advisors L.P. purchased a new stake in shares of Hubbell Inc (NYSE:HUBB) during the first quarter, Holdings Channel reports. The institutional investor purchased 21,611 shares of the industrial products company’s stock, valued at approximately $2,595,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its stake in Hubbell by 5.3% in the first quarter. Victory Capital Management Inc. now owns 1,106,156 shares of the industrial products company’s stock valued at $132,794,000 after buying an additional 55,537 shares in the last quarter. Boston Partners increased its stake in Hubbell by 12.9% in the first quarter. Boston Partners now owns 1,100,419 shares of the industrial products company’s stock valued at $132,105,000 after buying an additional 125,457 shares in the last quarter. FMR LLC increased its stake in Hubbell by 0.5% in the first quarter. FMR LLC now owns 693,170 shares of the industrial products company’s stock valued at $83,215,000 after buying an additional 3,700 shares in the last quarter. Wellington Management Group LLP increased its stake in Hubbell by 9.7% in the first quarter. Wellington Management Group LLP now owns 508,569 shares of the industrial products company’s stock valued at $61,053,000 after buying an additional 44,779 shares in the last quarter. Finally, Westwood Holdings Group Inc. increased its stake in Hubbell by 564.1% in the fourth quarter. Westwood Holdings Group Inc. now owns 456,882 shares of the industrial products company’s stock valued at $53,318,000 after buying an additional 388,090 shares in the last quarter. 86.57% of the stock is currently owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for Hubbell (NYSE:HUBB)

Hubbell Inc (HUBB) traded down 1.86% during mid-day trading on Tuesday, hitting $114.86. The company’s stock had a trading volume of 108,366 shares. The firm has a market cap of $6.32 billion, a price-to-earnings ratio of 21.70 and a beta of 0.98. Hubbell Inc has a 52-week low of $97.35 and a 52-week high of $125.93. The firm has a 50 day moving average of $115.37 and a 200-day moving average of $118.04.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, April 25th. The industrial products company reported $1.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.12. Hubbell had a net margin of 8.37% and a return on equity of 19.96%. The company had revenue of $852.30 million for the quarter, compared to analysts’ expectations of $848.70 million. During the same quarter in the prior year, the firm earned $1.16 EPS. The business’s revenue was up 2.1% on a year-over-year basis. On average, equities research analysts expect that Hubbell Inc will post $5.49 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Wednesday, May 31st were given a $0.70 dividend. The ex-dividend date was Friday, May 26th. This represents a $2.80 annualized dividend and a yield of 2.39%. Hubbell’s payout ratio is 52.83%.

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Several analysts have issued reports on HUBB shares. JMP Securities started coverage on Hubbell in a research note on Monday. They issued a “market perform” rating on the stock. Zacks Investment Research downgraded Hubbell from a “buy” rating to a “hold” rating in a research note on Thursday, April 27th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Hubbell has a consensus rating of “Hold” and a consensus target price of $122.00.

About Hubbell

Hubbell Incorporated is engaged in the design, manufacture and sale of electrical and electronic products for a range of non-residential and residential construction, industrial and utility applications. The Company’s segments include Electrical and the Power. The Electrical segment consists of businesses that sell stock and custom products, including standard and special application wiring device products, rough-in electrical products, lighting fixtures and controls, components and assemblies for the natural gas distribution market, as well as other electrical equipment.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “HUBB”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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