Swiss National Bank raised its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 1.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 101,600 shares of the industrial products company’s stock after acquiring an additional 1,900 shares during the period. Swiss National Bank owned approximately 0.19% of Hubbell worth $13,249,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Coastal Capital Group Inc. acquired a new position in shares of Hubbell in the second quarter valued at approximately $66,000. CENTRAL TRUST Co grew its holdings in shares of Hubbell by 125.0% in the second quarter. CENTRAL TRUST Co now owns 360 shares of the industrial products company’s stock valued at $45,000 after purchasing an additional 200 shares in the last quarter. Jacobs & Co. CA acquired a new position in shares of Hubbell in the first quarter valued at approximately $3,047,000. BB&T Corp grew its holdings in shares of Hubbell by 8.6% in the second quarter. BB&T Corp now owns 14,876 shares of the industrial products company’s stock valued at $1,940,000 after purchasing an additional 1,174 shares in the last quarter. Finally, Crossmark Global Holdings Inc. grew its holdings in shares of Hubbell by 7.7% in the first quarter. Crossmark Global Holdings Inc. now owns 5,737 shares of the industrial products company’s stock valued at $677,000 after purchasing an additional 410 shares in the last quarter. Institutional investors and hedge funds own 88.19% of the company’s stock.
A number of research analysts recently issued reports on the stock. Gabelli assumed coverage on shares of Hubbell in a research note on Wednesday. They issued a “buy” rating and a $160.00 price target for the company. Morgan Stanley set a $138.00 price target on shares of Hubbell and gave the stock a “hold” rating in a research note on Wednesday, July 31st. G.Research reiterated a “buy” rating on shares of Hubbell in a research note on Wednesday. Zacks Investment Research downgraded shares of Hubbell from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Stephens assumed coverage on shares of Hubbell in a research note on Monday, July 8th. They issued an “overweight” rating and a $140.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $144.33.
Shares of NYSE:HUBB opened at $123.73 on Friday. The company has a market capitalization of $7.00 billion, a PE ratio of 16.97, a P/E/G ratio of 1.59 and a beta of 1.48. The company has a current ratio of 1.98, a quick ratio of 1.22 and a debt-to-equity ratio of 0.93. Hubbell Incorporated has a twelve month low of $91.88 and a twelve month high of $137.67. The firm has a 50 day simple moving average of $126.93 and a 200-day simple moving average of $122.94.
Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.31 earnings per share for the quarter, topping the 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 company’s revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.09 EPS. As a group, equities research analysts predict that Hubbell Incorporated will post 8.08 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Thursday, August 29th. This represents a $3.36 annualized dividend and a dividend yield of 2.72%. Hubbell’s dividend payout ratio is presently 46.09%.
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.
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