Connecticut Wealth Management LLC held its stake in Hubbell Inc (NYSE:HUBB) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,606 shares of the industrial products company’s stock at the end of the second quarter. Connecticut Wealth Management LLC’s holdings in Hubbell were worth $411,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of the stock. Sit Investment Associates Inc. increased its stake in Hubbell by 336.7% in the first quarter. Sit Investment Associates Inc. now owns 99,825 shares of the industrial products company’s stock valued at $11,984,000 after buying an additional 76,968 shares during the period. Acadian Asset Management LLC increased its stake in Hubbell by 29,516.7% in the first quarter. Acadian Asset Management LLC now owns 10,662 shares of the industrial products company’s stock valued at $1,280,000 after buying an additional 10,626 shares during the period. BTIM Corp. increased its stake in Hubbell by 1.7% in the first quarter. BTIM Corp. now owns 376,413 shares of the industrial products company’s stock valued at $45,188,000 after buying an additional 6,377 shares during the period. State of Alaska Department of Revenue increased its stake in Hubbell by 5.2% in the first quarter. State of Alaska Department of Revenue now owns 2,380 shares of the industrial products company’s stock valued at $285,000 after buying an additional 117 shares during the period. Finally, Oakbrook Investments LLC increased its stake in Hubbell by 51.2% in the first quarter. Oakbrook Investments LLC now owns 4,158 shares of the industrial products company’s stock valued at $499,000 after buying an additional 1,408 shares during the period. 85.30% of the stock is owned by hedge funds and other institutional investors.
Shares of Hubbell Inc (NYSE HUBB) opened at 117.94 on Thursday. The company has a market capitalization of $6.45 billion, a P/E ratio of 22.38 and a beta of 1.01. Hubbell Inc has a 1-year low of $101.15 and a 1-year high of $125.93. The firm has a 50-day moving average of $115.88 and a 200 day moving average of $117.71.
Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, July 25th. The industrial products company reported $1.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.11. Hubbell had a net margin of 8.23% and a return on equity of 19.77%. The firm had revenue of $948.30 million during the quarter, compared to analysts’ expectations of $937.35 million. During the same period last year, the company posted $1.53 EPS. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, equities research analysts expect that Hubbell Inc will post $5.51 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be given a $0.70 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $2.80 annualized dividend and a dividend yield of 2.37%. Hubbell’s dividend payout ratio is 53.03%.
Several equities research analysts have weighed in on the stock. Zacks Investment Research raised shares of Hubbell from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. JMP Securities assumed coverage on shares of Hubbell in a research note on Monday, June 19th. They issued a “market perform” rating for the company. Finally, Wolfe Research assumed coverage on shares of Hubbell in a research note on Tuesday, July 11th. They issued a “market perform” rating for the company. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $126.67.
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.
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