Schulhoff & Co. Inc. held its position in shares of Hubbell Inc. (NYSE:HUBB) during the second quarter, Holdings Channel reports. The institutional investor owned 1,988 shares of the company’s stock at the end of the second quarter. Schulhoff & Co. Inc.’s holdings in Hubbell were worth $209,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in HUBB. Huntington National Bank bought a new position in shares of Hubbell during the second quarter valued at $263,000. American Century Companies Inc. increased its position in shares of Hubbell by 9.3% in the second quarter. American Century Companies Inc. now owns 1,081,037 shares of the company’s stock valued at $114,017,000 after buying an additional 92,077 shares during the period. Rehmann Capital Advisory Group bought a new position in shares of Hubbell during the second quarter valued at $620,000. Bank of Montreal Can bought a new position in shares of Hubbell during the second quarter valued at $198,000. 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 valued at $575,000 after buying an additional 350 shares during the period. Institutional investors own 82.09% of the company’s stock.
Shares of Hubbell Inc. (NYSE:HUBB) traded up 0.70% during trading on Wednesday, reaching $103.96. The company had a trading volume of 181,572 shares. Hubbell Inc. has a 12 month low of $83.16 and a 12 month high of $111.23. The stock has a market capitalization of $5.75 billion, a PE ratio of 21.41 and a beta of 1.07. The stock’s 50-day moving average price is $105.23 and its 200-day moving average price is $105.55.
Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.10. The business had revenue of $909 million for the quarter, compared to analysts’ expectations of $874 million. Hubbell had a return on equity of 17.48% and a net margin of 8.01%. The firm’s revenue was up 4.0% compared to the same quarter last year. Equities analysts forecast that Hubbell Inc. will post $5.32 earnings per share for the current fiscal year.
A number of research firms recently weighed in on HUBB. Zacks Investment Research downgraded Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Morgan Stanley restated a “hold” rating and issued a $111.00 price target on shares of Hubbell in a research note on Thursday, July 28th. Finally, JPMorgan Chase & Co. reduced their price objective on Hubbell from $110.00 to $108.00 and set a “neutral” rating for the company in a report on Wednesday, July 27th. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $105.80.
In other news, Director Richard J. Swift sold 4,303 shares of the stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $107.13, for a total transaction of $460,980.39. Following the sale, the director now directly owns 5,181 shares in the company, valued at approximately $555,040.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Stephen M. Mais sold 2,804 shares of the stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $106.63, for a total value of $298,990.52. Following the sale, the vice president now owns 12,807 shares in the company, valued at $1,365,610.41. 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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