Vanguard Group Inc. increased its stake in Hubbell Inc. (NYSE:HUBB) by 2.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,982,727 shares of the company’s stock after buying an additional 108,919 shares during the period. Vanguard Group Inc. owned about 7.20% of Hubbell worth $420,058,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. JPMorgan Chase & Co. raised its stake in Hubbell by 3.2% in the second quarter. JPMorgan Chase & Co. now owns 2,345,615 shares of the company’s stock worth $247,392,000 after buying an additional 73,764 shares during the last quarter. State Street Corp raised its stake in Hubbell by 0.9% in the first quarter. State Street Corp now owns 1,390,289 shares of the company’s stock worth $147,275,000 after buying an additional 11,901 shares during the last quarter. American Century Companies Inc. raised its stake in Hubbell by 9.3% in the second quarter. American Century Companies Inc. now owns 1,081,037 shares of the company’s stock worth $114,017,000 after buying an additional 92,077 shares during the last quarter. Eaton Vance Management raised its stake in shares of Hubbell by 16.3% in the second quarter. Eaton Vance Management now owns 916,500 shares of the company’s stock worth $96,663,000 after buying an additional 128,557 shares in the last quarter. Finally, Boston Partners raised its stake in shares of Hubbell by 11.9% in the second quarter. Boston Partners now owns 820,957 shares of the company’s stock worth $86,586,000 after buying an additional 87,566 shares in the last quarter. 82.13% of the stock is owned by institutional investors.
Hubbell Inc. (NYSE:HUBB) opened at 105.26 on Wednesday. The firm has a 50-day moving average of $106.41 and a 200-day moving average of $105.56. The firm has a market cap of $5.82 billion, a PE ratio of 21.68 and a beta of 1.07. Hubbell Inc. has a 52-week low of $83.16 and a 52-week high of $111.23.
Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, July 26th. The company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.43 by $0.10. The business earned $909 million during the quarter, compared to the consensus estimate of $874 million. Hubbell had a return on equity of 17.48% and a net margin of 8.01%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. Equities analysts anticipate that Hubbell Inc. will post $5.32 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 2.39%. The ex-dividend date was Monday, August 29th. Hubbell’s dividend payout ratio (DPR) is presently 51.85%.
HUBB has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Hubbell from a “hold” rating to a “buy” rating and set a $119.00 price objective for the company in a report on Wednesday, July 13th. Morgan Stanley reissued a “hold” rating and issued a $111.00 price objective on shares of Hubbell in a report on Thursday, July 28th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Hubbell from $110.00 to $108.00 and set a “neutral” rating for the company in a report on Wednesday, July 27th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $105.80.
In related news, VP Stephen M. Mais sold 2,804 shares of Hubbell stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $106.63, for a total transaction of $298,990.52. Following the completion of the sale, the vice president now owns 12,807 shares in the company, valued at approximately $1,365,610.41. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard J. Swift sold 4,303 shares of Hubbell stock in a transaction dated Friday, July 29th. The stock was sold at an average price of $107.13, for a total value of $460,980.39. Following the sale, the director now owns 5,181 shares of the company’s stock, valued at approximately $555,040.53. The disclosure for this sale can be found here. Insiders own 1.25% of the company’s stock.
Hubbell Incorporated is engaged in the design, manufacture and sale of electrical and electronic products for a range of non-residential and residential construction, industrial and utility applications. The Company operates through two segments: Electrical and Power. The Electrical segment consists of electrical systems products and lighting products.
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