Russell Investments Group Ltd. boosted its position in shares of Hubbell Incorporated (NYSE:HUBB – Get Rating) by 16.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 33,042 shares of the industrial products company’s stock after acquiring an additional 4,625 shares during the quarter. Russell Investments Group Ltd. owned about 0.06% of Hubbell worth $7,755,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Manhattan Co. acquired a new stake in Hubbell during the 1st quarter worth about $28,000. Northwest Investment Counselors LLC acquired a new stake in Hubbell during the 4th quarter worth about $32,000. IFP Advisors Inc lifted its position in 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 acquiring an additional 56 shares during the period. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Hubbell during the 4th quarter worth about $41,000. Finally, Paragon Wealth Strategies LLC acquired a new stake in Hubbell during the 3rd quarter worth about $45,000. Institutional investors and hedge funds own 89.71% of the company’s stock.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the company. Mizuho lifted their price objective on Hubbell from $252.00 to $300.00 in a research note on Wednesday, April 26th. JPMorgan Chase & Co. upgraded Hubbell from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $200.00 to $205.00 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 company an “equal weight” rating in a research note on Wednesday, February 1st. StockNews.com lowered Hubbell from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 5th. Finally, Wells Fargo & Company reduced their price objective on Hubbell from $225.00 to $221.00 and set an “equal weight” rating for the company in a research note on Thursday, April 13th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Hubbell currently has a consensus rating of “Hold” and an average price target of $237.33.
Insiders Place Their Bets
Hubbell Price Performance
Shares of Hubbell stock opened at $273.52 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.99 and a debt-to-equity ratio of 0.58. Hubbell Incorporated has a twelve month low of $170.21 and a twelve month high of $282.19. The business has a 50-day moving average price of $245.10 and a 200 day moving average price of $243.01. The firm has a market cap of $14.66 billion, a PE ratio of 26.12, a P/E/G ratio of 1.97 and a beta of 0.99.
Hubbell (NYSE:HUBB – Get Rating) last posted its quarterly earnings data on Tuesday, April 25th. The industrial products company reported $3.61 EPS for the quarter, topping the consensus estimate of $2.46 by $1.15. Hubbell had a return on equity of 27.72% and a net margin of 11.15%. The company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the business earned $2.12 EPS. Hubbell’s quarterly revenue was up 11.2% on a year-over-year basis. Sell-side analysts predict that Hubbell Incorporated will post 13.81 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, June 15th. Shareholders 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 annualized dividend and a yield of 1.64%. Hubbell’s dividend payout ratio (DPR) is currently 42.79%.
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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