The Manufacturers Life Insurance Company reduced its stake in Hubbell Incorporated (NYSE:HUBB) by 3.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,384 shares of the industrial products company’s stock after selling 3,098 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.16% of Hubbell worth $10,641,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Crawford Investment Counsel Inc. increased its holdings in Hubbell by 3.2% in the 1st quarter. Crawford Investment Counsel Inc. now owns 312,570 shares of the industrial products company’s stock valued at $38,065,000 after purchasing an additional 9,563 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Hubbell in the 1st quarter valued at $2,655,000. Bayesian Capital Management LP acquired a new stake in Hubbell in the 1st quarter valued at $905,000. Lord Abbett & CO. LLC increased its holdings in Hubbell by 11.8% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,091,452 shares of the industrial products company’s stock valued at $132,917,000 after purchasing an additional 114,817 shares in the last quarter. Finally, Mason Street Advisors LLC increased its holdings in Hubbell by 1.9% in the 1st quarter. Mason Street Advisors LLC now owns 27,475 shares of the industrial products company’s stock valued at $3,346,000 after purchasing an additional 525 shares in the last quarter. Hedge funds and other institutional investors own 85.74% of the company’s stock.
HUBB has been the subject of several recent analyst reports. Wolfe Research initiated coverage on Hubbell in a research note on Wednesday. They set a “market perform” rating for the company. Zacks Investment Research upgraded Hubbell from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a research note on Wednesday. JMP Securities upgraded Hubbell from a “market perform” rating to an “outperform” rating in a research note on Monday, June 18th. ValuEngine downgraded Hubbell from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Finally, JPMorgan Chase & Co. lowered their target price on Hubbell from $152.00 to $138.00 and set an “overweight” rating for the company in a research note on Thursday, April 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the company’s stock. Hubbell currently has an average rating of “Buy” and a consensus target price of $137.83.
Shares of Hubbell opened at $105.98 on Friday, MarketBeat.com reports. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.92 and a quick ratio of 1.12. The stock has a market cap of $5.86 billion, a PE ratio of 17.53, a price-to-earnings-growth ratio of 1.50 and a beta of 1.05. Hubbell Incorporated has a 1-year low of $100.55 and a 1-year high of $149.03.
Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, April 24th. The industrial products company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.03. The company had revenue of $991.20 million during the quarter, compared to the consensus estimate of $975.95 million. Hubbell had a return on equity of 20.40% and a net margin of 6.27%. The company’s revenue was up 16.3% on a year-over-year basis. During the same period last year, the firm earned $1.23 earnings per share. analysts predict that Hubbell Incorporated will post 7.09 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, June 15th. Investors of record on Thursday, May 31st were paid a $0.77 dividend. The ex-dividend date of this dividend was Wednesday, May 30th. This represents a $3.08 dividend on an annualized basis and a yield of 2.91%. Hubbell’s dividend payout ratio (DPR) is 51.94%.
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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