Stephens Inc. AR acquired a new position in shares of Hubbell Incorporated (NYSE:HUBB – Get Rating) in the first quarter, HoldingsChannel reports. The fund acquired 2,911 shares of the industrial products company’s stock, valued at approximately $535,000.
A number of other institutional investors have also made changes to their positions in HUBB. National Bank of Canada FI acquired a new stake in shares of Hubbell during the fourth quarter worth $36,000. Allspring Global Investments Holdings LLC acquired a new stake in shares of Hubbell during the fourth quarter worth $7,981,000. Raymond James Trust N.A. acquired a new stake in shares of Hubbell during the fourth quarter worth $232,000. Avestar Capital LLC grew its stake in shares of Hubbell by 8.5% during the fourth quarter. Avestar Capital LLC now owns 1,318 shares of the industrial products company’s stock worth $274,000 after purchasing an additional 103 shares during the period. Finally, Quadrant Capital Group LLC grew its stake in shares of Hubbell by 27.1% during the fourth quarter. Quadrant Capital Group LLC now owns 385 shares of the industrial products company’s stock worth $80,000 after purchasing an additional 82 shares during the period. 86.37% of the stock is owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, Director Carlos M. Cardoso sold 749 shares of the company’s stock in a transaction dated Monday, May 16th. The stock was sold at an average price of $193.73, for a total transaction of $145,103.77. Following the sale, the director now owns 1,744 shares in the company, valued at $337,865.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.82% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
Hubbell Stock Down 1.1 %
HUBB stock opened at $212.43 on Wednesday. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.03 and a quick ratio of 1.31. The stock has a market capitalization of $11.40 billion, a P/E ratio of 21.92, a P/E/G ratio of 2.23 and a beta of 1.17. The business has a 50-day moving average of $189.36 and a 200-day moving average of $187.93. Hubbell Incorporated has a fifty-two week low of $170.21 and a fifty-two week high of $220.47.
Hubbell (NYSE:HUBB – Get Rating) last posted its quarterly earnings data on Tuesday, July 26th. The industrial products company reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.41 by $0.40. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Hubbell had a return on equity of 22.61% and a net margin of 11.18%. Hubbell’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.36 earnings per share. On average, sell-side analysts anticipate that Hubbell Incorporated will post 9.81 earnings per share for the current fiscal year.
Hubbell Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st will be given a dividend of $1.05 per share. The ex-dividend date is Tuesday, August 30th. This represents a $4.20 annualized dividend and a dividend yield of 1.98%. Hubbell’s dividend payout ratio is currently 43.34%.
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.
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