Retirement Systems of Alabama decreased its position in shares of Hubbell Inc. (NYSE:HUBB) by 0.9% during the second quarter, Holdings Channel reports. The institutional investor owned 186,123 shares of the company’s stock after selling 1,682 shares during the period. Retirement Systems of Alabama’s holdings in Hubbell were worth $19,630,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of HUBB. BB&T Securities LLC increased its position in shares of Hubbell by 3.9% in the first quarter. BB&T Securities LLC now owns 4,004 shares of the company’s stock worth $424,000 after buying an additional 151 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of Hubbell by 7.5% in the second quarter. State of Alaska Department of Revenue now owns 2,614 shares of the company’s stock worth $275,000 after buying an additional 182 shares in the last quarter. Arizona State Retirement System increased its position in shares of Hubbell by 0.7% in the first quarter. Arizona State Retirement System now owns 26,879 shares of the company’s stock worth $2,847,000 after buying an additional 200 shares in the last quarter. Capstone Asset Management Co. increased its position in shares of Hubbell by 4.2% in the second quarter. Capstone Asset Management Co. now owns 5,277 shares of the company’s stock worth $557,000 after buying an additional 211 shares in the last quarter. Finally, Oakbrook Investments LLC increased its position in shares of Hubbell by 6.9% in the second quarter. Oakbrook Investments LLC now owns 5,450 shares of the company’s stock worth $575,000 after buying an additional 350 shares in the last quarter. 82.13% of the stock is owned by institutional investors.
Shares of Hubbell Inc. (NYSE:HUBB) traded down 1.38% during trading on Thursday, reaching $106.61. The company’s stock had a trading volume of 124,975 shares. The stock’s 50 day moving average price is $106.46 and its 200 day moving average price is $105.39. Hubbell Inc. has a 52 week low of $83.16 and a 52 week high of $111.23. The company has a market cap of $5.90 billion, a PE ratio of 21.95 and a beta of 1.17.
Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, July 26th. The company reported $1.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.43 by $0.10. Hubbell had a return on equity of 17.48% and a net margin of 8.01%. The firm had revenue of $909 million for the quarter, compared to analysts’ expectations of $874 million. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. Equities research analysts predict that Hubbell Inc. will post $5.32 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.36%. The ex-dividend date was Monday, August 29th. Hubbell’s dividend payout ratio (DPR) is currently 51.85%.
HUBB has been the topic of a number of research reports. Morgan Stanley restated a “hold” rating and issued a $111.00 price objective on shares of Hubbell in a report on Thursday, July 28th. Zacks Investment Research upgraded Hubbell from a “hold” rating to a “buy” rating and set a $119.00 price objective on the stock in a report on Wednesday, July 13th. Finally, JPMorgan Chase & Co. dropped their price objective on Hubbell from $110.00 to $108.00 and set a “neutral” rating on the stock in a report on Wednesday, July 27th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $105.80.
In other news, 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 transaction of $460,980.39. Following the transaction, the director now owns 5,181 shares in the company, valued at approximately $555,040.53. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Stephen M. Mais sold 2,804 shares of Hubbell stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $106.63, for a total value of $298,990.52. Following the transaction, the vice president now owns 12,807 shares in the company, valued at approximately $1,365,610.41. The disclosure for this sale can be found here. Company insiders own 1.25% of the company’s stock.
Hubbell Company Profile
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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