M&T Bank Corp lifted its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 11.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,632 shares of the industrial products company’s stock after acquiring an additional 2,852 shares during the period. M&T Bank Corp owned 0.05% of Hubbell worth $2,845,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of HUBB. Quantamental Technologies LLC acquired a new stake in shares of Hubbell during the fourth quarter valued at $30,000. Meeder Asset Management Inc. acquired a new stake in shares of Hubbell during the fourth quarter valued at $35,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in shares of Hubbell during the fourth quarter valued at $65,000. Valeo Financial Advisors LLC boosted its stake in Hubbell by 156.4% in the 3rd quarter. Valeo Financial Advisors LLC now owns 1,164 shares of the industrial products company’s stock worth $118,000 after buying an additional 710 shares during the last quarter. Finally, Penserra Capital Management LLC acquired a new stake in Hubbell in the 3rd quarter worth about $149,000. 90.75% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have issued reports on HUBB. ValuEngine raised Hubbell from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Zacks Investment Research lowered Hubbell from a “hold” rating to a “sell” rating in a research note on Tuesday, January 29th. CIBC reissued a “market perform” rating on shares of Hubbell in a research note on Tuesday, January 8th. Oppenheimer reissued a “market perform” rating on shares of Hubbell in a research note on Tuesday, January 8th. Finally, Morgan Stanley lowered Hubbell from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $131.00 to $109.00 in a research note on Tuesday, December 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. Hubbell has a consensus rating of “Hold” and an average target price of $134.17.
Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, February 5th. The industrial products company reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.03. Hubbell had a return on equity of 23.08% and a net margin of 8.04%. The firm had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.13 billion. During the same period last year, the company earned $1.54 EPS. The firm’s quarterly revenue was up 24.7% on a year-over-year basis. Sell-side analysts expect that Hubbell Incorporated will post 8.06 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Thursday, February 28th will be issued a $0.84 dividend. The ex-dividend date is Wednesday, February 27th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.91%. Hubbell’s dividend payout ratio (DPR) is 46.09%.
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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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