Sit Investment Associates Inc. maintained its stake in Hubbell Inc. (NYSE:HUBB) during the second quarter, Holdings Channel reports. The institutional investor owned 11,225 shares of the company’s stock at the end of the second quarter. Sit Investment Associates Inc.’s holdings in Hubbell were worth $1,184,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of HUBB. Huntington National Bank acquired a new stake in shares of Hubbell during the second quarter worth about $263,000. American Century Companies Inc. boosted its stake 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 worth $114,017,000 after buying an additional 92,077 shares during the last quarter. Rehmann Capital Advisory Group acquired a new stake in shares of Hubbell during the second quarter worth about $620,000. Bank of Montreal Can acquired a new stake in shares of Hubbell during the second quarter worth about $198,000. Finally, Oakbrook Investments LLC boosted its stake 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 during the last quarter. 82.13% of the stock is currently owned by institutional investors.
Hubbell Inc. (NYSE:HUBB) traded up 0.09% on Wednesday, hitting $102.88. 130,734 shares of the stock were exchanged. The company has a 50-day moving average of $105.97 and a 200 day moving average of $105.63. Hubbell Inc. has a 12 month low of $83.16 and a 12 month high of $111.23. The firm has a market cap of $5.69 billion, a P/E ratio of 21.19 and a beta of 1.07.
Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $1.53 EPS for the quarter, beating the Zacks’ consensus estimate of $1.43 by $0.10. Hubbell had a net margin of 8.01% and a return on equity of 17.48%. The firm had revenue of $909 million for the quarter, compared to analysts’ expectations of $874 million. The business’s revenue was up 4.0% on a year-over-year basis. Equities research analysts expect that Hubbell Inc. will post $5.32 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were issued a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.45%. The ex-dividend date of this dividend was Monday, August 29th. Hubbell’s dividend payout ratio is currently 51.85%.
A number of brokerages have issued reports on HUBB. Zacks Investment Research cut shares of Hubbell from a “buy” rating to a “hold” rating in a report on Friday, July 29th. Morgan Stanley reissued a “hold” rating and set a $111.00 target price on shares of Hubbell in a report on Thursday, July 28th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Hubbell from $110.00 to $108.00 and set a “neutral” rating on the stock in a report on Wednesday, July 27th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Hubbell has an average rating of “Hold” and a consensus price target of $105.80.
In related news, VP Stephen M. Mais sold 2,804 shares of the firm’s stock in a transaction that occurred on Wednesday, August 17th. The shares were 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard J. Swift sold 4,303 shares of the firm’s 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 completion of the sale, the director now owns 5,181 shares in the company, valued at approximately $555,040.53. The disclosure for this sale can be found here. 1.25% of the stock is currently owned by corporate insiders.
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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