Cambiar Investors LLC boosted its stake in Hubbell Inc (NYSE:HUBB) by 2.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 33,782 shares of the industrial products company’s stock after acquiring an additional 802 shares during the period. Cambiar Investors LLC owned 0.06% of Hubbell worth $3,919,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also bought and sold shares of HUBB. Meeder Asset Management Inc. lifted its position in Hubbell by 2,397.4% during the second quarter. Meeder Asset Management Inc. now owns 974 shares of the industrial products company’s stock valued at $110,000 after purchasing an additional 935 shares during the last quarter. Acrospire Investment Management LLC lifted its holdings in shares of Hubbell by 103.1% in the 2nd quarter. Acrospire Investment Management LLC now owns 985 shares of the industrial products company’s stock worth $111,000 after acquiring an additional 500 shares during the last quarter. Cubist Systematic Strategies LLC bought a new stake in Hubbell during the 2nd quarter valued at $182,000. Global X Management Co. LLC increased its position in Hubbell by 220.0% during the 2nd quarter. Global X Management Co. LLC now owns 1,760 shares of the industrial products company’s stock valued at $199,000 after purchasing an additional 1,210 shares during the period. Finally, YorkBridge Wealth Partners LLC purchased a new position in Hubbell during the 2nd quarter valued at $225,000. Hedge funds and other institutional investors own 84.05% of the company’s stock.
Hubbell Inc (HUBB) traded down $0.33 on Wednesday, reaching $121.43. 430,800 shares of the company’s stock traded hands, compared to its average volume of 286,188. The company has a quick ratio of 1.43, a current ratio of 2.28 and a debt-to-equity ratio of 0.59. The company has a market cap of $6,660.27, a PE ratio of 21.21, a P/E/G ratio of 2.24 and a beta of 1.10. Hubbell Inc has a 1-year low of $109.32 and a 1-year high of $127.34.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 2.54%. This is a positive change from Hubbell’s previous quarterly dividend of $0.70. The ex-dividend date is Wednesday, November 29th. Hubbell’s dividend payout ratio is currently 53.95%.
Hubbell announced that its Board of Directors has initiated a share repurchase program on Friday, October 20th that authorizes the company to repurchase $400.00 million in shares. This repurchase authorization authorizes the industrial products company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
A number of research analysts have issued reports on HUBB shares. Zacks Investment Research raised shares of Hubbell from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. BidaskClub raised shares of Hubbell from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. Finally, Morgan Stanley reissued an “overweight” rating and set a $132.00 price objective (up from $130.00) on shares of Hubbell in a research report on Monday, October 2nd. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $124.00.
In related news, insider Gerben Bakker sold 590 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $125.34, for a total value of $73,950.60. Following the completion of the sale, the insider now directly owns 13,249 shares of the company’s stock, valued at approximately $1,660,629.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.28% of the company’s stock.
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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