Bard Financial Services Inc. acquired a new stake in Hubbell Incorporated (NYSE:HUBB) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 7,750 shares of the industrial products company’s stock, valued at approximately $1,215,000.
Several other large investors have also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale boosted its stake in shares of Hubbell by 12.3% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 27,271 shares of the industrial products company’s stock valued at $4,260,000 after purchasing an additional 2,988 shares during the last quarter. Firethorn Wealth Partners LLC bought a new stake in shares of Hubbell in the 4th quarter valued at $364,000. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Hubbell by 7.5% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 8,649 shares of the industrial products company’s stock valued at $1,356,000 after purchasing an additional 600 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Hubbell by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 576,361 shares of the industrial products company’s stock valued at $90,367,000 after purchasing an additional 2,804 shares during the last quarter. Finally, Eaton Vance Management boosted its stake in shares of Hubbell by 360.0% in the 4th quarter. Eaton Vance Management now owns 16,174 shares of the industrial products company’s stock valued at $2,536,000 after purchasing an additional 12,658 shares during the last quarter. 84.44% of the stock is currently owned by institutional investors.
Several research analysts recently issued reports on the stock. Morgan Stanley increased their target price on shares of Hubbell from $178.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 3rd. Zacks Investment Research raised shares of Hubbell from a “hold” rating to a “buy” rating and set a $196.00 target price on the stock in a research note on Friday, March 5th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $165.17.
Hubbell (NYSE:HUBB) last released its quarterly earnings data on Monday, February 1st. The industrial products company reported $1.76 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.77 by ($0.01). Hubbell had a return on equity of 21.38% and a net margin of 8.75%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the previous year, the company posted $1.91 EPS. The business’s quarterly revenue was down 5.9% on a year-over-year basis. As a group, equities analysts forecast that Hubbell Incorporated will post 7.57 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 15th. Shareholders of record on Friday, February 26th were issued a dividend of $0.98 per share. The ex-dividend date of this dividend was Thursday, February 25th. This represents a $3.92 annualized dividend and a yield of 2.09%. Hubbell’s payout ratio is 48.28%.
In other news, VP Stephen M. Mais sold 1,080 shares of the stock in a transaction dated Wednesday, February 17th. The shares were sold at an average price of $166.63, for a total value of $179,960.40. Following the completion of the sale, the vice president now owns 14,981 shares in the company, valued at $2,496,284.03. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Stephen M. Mais sold 3,216 shares of the stock in a transaction dated Thursday, February 11th. The shares were sold at an average price of $163.74, for a total transaction of $526,587.84. Following the completion of the sale, the vice president now owns 22,617 shares of the company’s stock, valued at approximately $3,703,307.58. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.
Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and electronic products in the United States and internationally. The company operates through two segments, Electrical Solution and Utility Solution. The Electrical Solution 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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