AlphaCrest Capital Management LLC lowered its holdings in Hubbell Incorporated (NYSE:HUBB – Get Rating) by 18.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 953 shares of the industrial products company’s stock after selling 213 shares during the period. AlphaCrest Capital Management LLC’s holdings in Hubbell were worth $213,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. First Manhattan Co. purchased a new position in shares of Hubbell in the 1st quarter worth about $28,000. Paragon Wealth Strategies LLC bought a new stake in Hubbell in the third quarter worth about $45,000. Quent Capital LLC boosted its stake in Hubbell by 22.1% in the third quarter. Quent Capital LLC now owns 254 shares of the industrial products company’s stock valued at $57,000 after acquiring an additional 46 shares during the last quarter. CWM LLC grew its position in shares of Hubbell by 67.1% during the 3rd quarter. CWM LLC now owns 264 shares of the industrial products company’s stock valued at $59,000 after acquiring an additional 106 shares during the period. Finally, IFP Advisors Inc increased its stake in shares of Hubbell by 25.7% during the 3rd quarter. IFP Advisors Inc now owns 274 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 56 shares during the last quarter. Institutional investors own 89.71% of the company’s stock.
Insider Buying and Selling
In other Hubbell news, CEO Gerben Bakker sold 9,350 shares of the business’s stock in a transaction that occurred on Friday, February 3rd. The shares were sold at an average price of $240.80, for a total value of $2,251,480.00. Following the completion of the transaction, the chief executive officer now owns 37,801 shares of the company’s stock, valued at approximately $9,102,480.80. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.82% of the stock is owned by company insiders.
Hubbell Stock Performance
Hubbell (NYSE:HUBB – Get Rating) last issued its quarterly earnings data on Tuesday, January 31st. The industrial products company reported $2.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.41 by $0.19. Hubbell had a return on equity of 25.03% and a net margin of 11.40%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter last year, the business posted $2.07 earnings per share. The firm’s revenue was up 10.9% compared to the same quarter last year. Analysts predict that Hubbell Incorporated will post 11.27 earnings per share for the current fiscal year.
Hubbell Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Tuesday, February 28th will be issued a dividend of $1.12 per share. This represents a $4.48 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Monday, February 27th. Hubbell’s payout ratio is 43.04%.
Wall Street Analysts Forecast Growth
HUBB has been the topic of several research analyst reports. Wells Fargo & Company upped their price objective on Hubbell from $221.00 to $225.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 1st. Morgan Stanley lifted their price objective on Hubbell from $226.00 to $238.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 1st. UBS Group downgraded shares of Hubbell from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $254.00 to $225.00 in a report on Wednesday, January 4th. Wolfe Research downgraded shares of Hubbell from a “peer perform” rating to an “underperform” rating and set a $235.00 target price for the company. in a research note on Thursday, December 1st. Finally, JPMorgan Chase & Co. upgraded shares of Hubbell from an “underweight” rating to a “neutral” rating and upped their price target for the company from $200.00 to $205.00 in a research note on Wednesday, February 1st. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $230.00.
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.
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