Allspring Global Investments Holdings LLC acquired a new position in Hubbell Incorporated (NYSE:HUBB – Get Rating) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 38,324 shares of the industrial products company’s stock, valued at approximately $7,981,000. Allspring Global Investments Holdings LLC owned approximately 0.07% of Hubbell at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the stock. Dimensional Fund Advisors LP raised its position in Hubbell by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 572,140 shares of the industrial products company’s stock worth $103,381,000 after purchasing an additional 1,789 shares in the last quarter. Jade Capital Advisors LLC bought a new position in Hubbell in the third quarter valued at approximately $3,613,000. Cetera Investment Advisers boosted its stake in Hubbell by 3.6% in the third quarter. Cetera Investment Advisers now owns 2,141 shares of the industrial products company’s stock valued at $387,000 after acquiring an additional 74 shares during the last quarter. State of New Jersey Common Pension Fund D boosted its stake in Hubbell by 8.3% in the third quarter. State of New Jersey Common Pension Fund D now owns 28,289 shares of the industrial products company’s stock valued at $5,111,000 after acquiring an additional 2,165 shares during the last quarter. Finally, Occidental Asset Management LLC raised its holdings in Hubbell by 6.7% in the third quarter. Occidental Asset Management LLC now owns 9,163 shares of the industrial products company’s stock worth $1,655,000 after purchasing an additional 579 shares during the period. Hedge funds and other institutional investors own 84.71% of the company’s stock.
HUBB has been the topic of a number of research analyst reports. Morgan Stanley raised their price objective on shares of Hubbell from $198.00 to $200.00 and gave the stock an “equal weight” rating in a report on Thursday. Mizuho decreased their price objective on shares of Hubbell from $240.00 to $220.00 and set a “buy” rating for the company in a research report on Monday, February 7th. Zacks Investment Research raised shares of Hubbell from a “sell” rating to a “hold” rating in a report on Tuesday, February 15th. Finally, StockNews.com started coverage on shares of Hubbell in a report on Thursday, March 31st. They set a “buy” rating for the company. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Hubbell presently has an average rating of “Hold” and an average target price of $205.00.
Hubbell (NYSE:HUBB – Get Rating) last posted its quarterly earnings results on Thursday, February 3rd. The industrial products company reported $2.07 EPS for the quarter, missing analysts’ consensus estimates of $2.09 by ($0.02). The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.22 billion. Hubbell had a return on equity of 21.21% and a net margin of 8.72%. The company’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.76 earnings per share. Analysts predict that Hubbell Incorporated will post 9.08 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, March 15th. Investors of record on Monday, February 28th were given a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Friday, February 25th. Hubbell’s payout ratio is currently 57.69%.
In other news, CEO Gerben Bakker sold 1,148 shares of the business’s stock in a transaction that occurred on Friday, February 11th. The shares were sold at an average price of $186.37, for a total value of $213,952.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO William R. Sperry sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 10th. The stock was sold at an average price of $188.70, for a total transaction of $1,887,000.00. The disclosure for this sale can be found here. Company insiders own 0.82% of the company’s stock.
About Hubbell (Get Rating)
Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and electronic products in the United States and internationally. It 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 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.
- Get a free copy of the StockNews.com research report on Hubbell (HUBB)
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