Mirae Asset Global Investments Co. Ltd. reduced its position in Hubbell Incorporated (NYSE:HUBB – Get Rating) by 2.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 224,119 shares of the industrial products company’s stock after selling 6,322 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.42% of Hubbell worth $52,596,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Panagora Asset Management Inc. grew its holdings in shares of Hubbell by 87.6% during the first quarter. Panagora Asset Management Inc. now owns 5,426 shares of the industrial products company’s stock valued at $997,000 after buying an additional 2,533 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of Hubbell by 9.4% during the first quarter. Great West Life Assurance Co. Can now owns 31,791 shares of the industrial products company’s stock valued at $6,006,000 after buying an additional 2,736 shares during the last quarter. Blair William & Co. IL grew its holdings in shares of Hubbell by 0.5% during the first quarter. Blair William & Co. IL now owns 22,986 shares of the industrial products company’s stock valued at $4,224,000 after buying an additional 120 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Hubbell by 0.4% during the first quarter. Vanguard Group Inc. now owns 5,454,758 shares of the industrial products company’s stock valued at $1,002,421,000 after buying an additional 23,865 shares during the last quarter. Finally, Covestor Ltd grew its holdings in shares of Hubbell by 137.3% during the first quarter. Covestor Ltd now owns 522 shares of the industrial products company’s stock valued at $96,000 after buying an additional 302 shares during the last quarter. 89.71% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on HUBB shares. Mizuho boosted their target price on shares of Hubbell from $252.00 to $300.00 in a research report on Wednesday, April 26th. Morgan Stanley boosted their target price on shares of Hubbell from $226.00 to $238.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 1st. StockNews.com upgraded shares of Hubbell from a “buy” rating to a “strong-buy” rating in a research report on Monday. Wells Fargo & Company decreased their target price on shares of Hubbell from $225.00 to $221.00 and set an “equal weight” rating for the company in a research report on Thursday, April 13th. Finally, JPMorgan Chase & Co. upgraded shares of Hubbell from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $200.00 to $205.00 in a research report on Wednesday, February 1st. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $237.33.
Hubbell Trading Up 0.0 %
Shares of Hubbell stock opened at $273.58 on Tuesday. The firm has a 50-day simple moving average of $245.52 and a two-hundred day simple moving average of $243.29. The company has a market cap of $14.66 billion, a P/E ratio of 26.13, a price-to-earnings-growth ratio of 1.97 and a beta of 0.99. Hubbell Incorporated has a fifty-two week low of $170.21 and a fifty-two week high of $282.19. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.25 and a current ratio of 1.99.
Hubbell (NYSE:HUBB – Get Rating) last issued its quarterly earnings data on Tuesday, April 25th. The industrial products company reported $3.61 earnings per share for the quarter, topping analysts’ consensus estimates of $2.46 by $1.15. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.25 billion. Hubbell had a net margin of 11.15% and a return on equity of 27.72%. The company’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.12 earnings per share. As a group, equities analysts predict that Hubbell Incorporated will post 13.81 earnings per share for the current fiscal year.
Hubbell Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st will be paid a dividend of $1.12 per share. The ex-dividend date is Tuesday, May 30th. This represents a $4.48 dividend on an annualized basis and a dividend yield of 1.64%. Hubbell’s dividend payout ratio is currently 42.79%.
Insider Transactions at Hubbell
In other news, Director Carlos M. Cardoso sold 560 shares of the business’s stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $273.16, for a total transaction of $152,969.60. Following the completion of the sale, the director now owns 1,711 shares of the company’s stock, valued at $467,376.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.66% of the company’s stock.
Hubbell Company Profile
Hubbell, Inc engages in the designing, manufacturing, and sale of electrical and electronic products for non-residential and residential construction, industrial, and utility applications. It operates through the Electrical Solutions and Utility Solutions segments. The Electrical Solutions segment manufactures and sells wiring and electrical, lighting fixtures, and controls for indoor and outdoor applications as well as specialty lighting and communications products.
- Get a free copy of the StockNews.com research report on Hubbell (HUBB)
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