Caisse DE Depot ET Placement DU Quebec acquired a new position in Hubbell Incorporated (NYSE:HUBB) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 45,300 shares of the industrial products company’s stock, valued at approximately $6,131,000.
A number of other large investors have also recently made changes to their positions in the stock. Amundi Pioneer Asset Management Inc. bought a new stake in Hubbell during the 4th quarter valued at $2,917,000. Geode Capital Management LLC boosted its position in Hubbell by 5.6% during the 4th quarter. Geode Capital Management LLC now owns 445,480 shares of the industrial products company’s stock valued at $60,291,000 after acquiring an additional 23,510 shares in the last quarter. Impax Asset Management LTD boosted its position in Hubbell by 29.5% during the 4th quarter. Impax Asset Management LTD now owns 346,289 shares of the industrial products company’s stock valued at $46,867,000 after acquiring an additional 78,783 shares in the last quarter. Allianz Asset Management GmbH bought a new stake in Hubbell during the 4th quarter valued at $13,249,000. Finally, Amalgamated Bank boosted its position in Hubbell by 5.7% during the 4th quarter. Amalgamated Bank now owns 11,316 shares of the industrial products company’s stock valued at $1,532,000 after acquiring an additional 613 shares in the last quarter. 85.32% of the stock is currently owned by institutional investors.
Several analysts have issued reports on HUBB shares. Morgan Stanley increased their target price on Hubbell from $134.00 to $153.00 and gave the company an “overweight” rating in a research report on Thursday, February 1st. Zacks Investment Research lowered Hubbell from a “buy” rating to a “hold” rating in a report on Thursday, January 25th. JPMorgan Chase & Co. upgraded Hubbell from a “neutral” rating to an “overweight” rating in a report on Thursday, January 18th. Wells Fargo & Co reiterated a “buy” rating and set a $143.00 price objective (up previously from $136.00) on shares of Hubbell in a report on Wednesday, December 20th. Finally, Oppenheimer reiterated a “buy” rating and set a $160.00 price objective on shares of Hubbell in a report on Tuesday, January 30th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $153.60.
Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $1.54 EPS for the quarter, beating the consensus estimate of $1.42 by $0.12. Hubbell had a return on equity of 20.16% and a net margin of 6.63%. The firm had revenue of $917.70 million during the quarter, compared to analyst estimates of $901.23 million. During the same quarter in the prior year, the business posted $1.35 EPS. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. sell-side analysts expect that Hubbell Incorporated will post 7.2 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $3.08 annualized dividend and a dividend yield of 2.44%. Hubbell’s dividend payout ratio is presently 56.72%.
In related news, VP Stephen M. Mais sold 4,692 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $135.59, for a total value of $636,188.28. Following the completion of the transaction, the vice president now owns 16,669 shares in the company, valued at approximately $2,260,149.71. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman David G. Nord sold 12,076 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $133.76, for a total value of $1,615,285.76. The disclosure for this sale can be found here. Corporate insiders own 1.28% of the company’s stock.
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Hubbell Company Profile
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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