Crossmark Global Holdings Inc. decreased its position in shares of Hubbell Incorporated (NYSE:HUBB) by 4.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,161 shares of the industrial products company’s stock after selling 250 shares during the period. Crossmark Global Holdings Inc.’s holdings in Hubbell were worth $678,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Cullen Frost Bankers Inc. raised its position 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 purchasing an additional 195 shares in the last quarter. Krane Funds Advisors LLC acquired a new stake in Hubbell in the 2nd quarter valued at about $27,000. Advisory Services Network LLC raised its position 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 purchasing an additional 117 shares in the last quarter. CENTRAL TRUST Co raised its position 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 purchasing an additional 200 shares in the last quarter. Finally, River & Mercantile Asset Management LLP acquired a new stake in Hubbell in the 2nd quarter valued at about $46,000. 85.91% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on HUBB shares. Zacks Investment Research lowered Hubbell from a “hold” rating to a “sell” rating in a research report on Thursday, October 10th. Gabelli started coverage on Hubbell in a research report on Wednesday, August 21st. They issued a “buy” rating and a $160.00 price target on the stock. JPMorgan Chase & Co. increased their price target on Hubbell from $135.00 to $145.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. G.Research reaffirmed a “buy” rating on shares of Hubbell in a research report on Wednesday, August 21st. Finally, Stephens started coverage on Hubbell in a research report on Monday, July 8th. They issued an “overweight” rating and a $140.00 price target on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the stock. Hubbell has a consensus rating of “Hold” and a consensus price target of $144.43.
Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $2.15 by $0.16. Hubbell had a return on equity of 23.63% and a net margin of 8.03%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the prior year, the business posted $2.09 EPS. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, analysts predict that Hubbell Incorporated will post 8.08 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Friday, August 30th were issued a $0.84 dividend. The ex-dividend date was Thursday, August 29th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.50%. Hubbell’s payout ratio is currently 46.09%.
In other news, insider Kevin Arthur Poyck sold 1,828 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $127.66, for a total value of $233,362.48. Following the transaction, the insider now owns 19,822 shares in the company, valued at approximately $2,530,476.52. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Stephen M. Mais sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $127.41, for a total value of $254,820.00. Following the transaction, the vice president now owns 14,784 shares in the company, valued at approximately $1,883,629.44. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.
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.
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