UBS Asset Management Americas Inc. raised its position in shares of Hubbell Inc. (NYSE:HUBB) by 1.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 42,139 shares of the company’s stock after buying an additional 477 shares during the period. UBS Asset Management Americas Inc. owned 0.08% of Hubbell worth $4,445,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of HUBB. Nationwide Fund Advisors increased its position in shares of Hubbell by 6.0% in the second quarter. Nationwide Fund Advisors now owns 180,784 shares of the company’s stock worth $19,067,000 after buying an additional 10,234 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of 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 in the last quarter. Ameriprise Financial Inc. increased its position in shares of Hubbell by 13.4% in the second quarter. Ameriprise Financial Inc. now owns 184,598 shares of the company’s stock worth $19,470,000 after buying an additional 21,877 shares in the last quarter. William Blair Investment Management LLC increased its position in shares of Hubbell by 17.8% in the second quarter. William Blair Investment Management LLC now owns 6,805 shares of the company’s stock worth $718,000 after buying an additional 1,029 shares in the last quarter. Finally, MUFG Americas Holdings Corp acquired a new position in shares of Hubbell during the second quarter worth approximately $892,000. 82.13% of the stock is currently owned by institutional investors and hedge funds.
Hubbell Inc. (NYSE:HUBB) traded up 0.85% during midday trading on Friday, reaching $107.52. 71,412 shares of the company traded hands. Hubbell Inc. has a 12 month low of $83.16 and a 12 month high of $111.23. The firm has a 50 day moving average of $106.46 and a 200-day moving average of $105.39. The stock has a market capitalization of $5.95 billion, a price-to-earnings ratio of 22.14 and a beta of 1.17.
Hubbell (NYSE:HUBB) last announced its quarterly earnings data 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 the consensus estimate of $874 million. Hubbell’s revenue was up 4.0% compared to the same quarter last year. Analysts forecast that Hubbell Inc. will post $5.32 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were given a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.36%. The ex-dividend date was Monday, August 29th. Hubbell’s dividend payout ratio is 51.85%.
A number of equities analysts have recently commented on the stock. Zacks Investment Research downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Morgan Stanley reissued a “hold” rating and issued a $111.00 target price on shares of Hubbell in a research note on Thursday, July 28th. Finally, JPMorgan Chase & Co. cut their target price on shares of Hubbell from $110.00 to $108.00 and set a “neutral” rating on the stock in a research note 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 stock. The stock has a consensus rating of “Hold” and a consensus price target of $105.80.
In other Hubbell news, VP Stephen M. Mais sold 2,804 shares of the business’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 completion of the sale, the vice president now directly owns 12,807 shares of the company’s stock, valued at $1,365,610.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard J. Swift sold 4,303 shares of the business’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 directly owns 5,181 shares of the company’s stock, valued at $555,040.53. The disclosure for this sale can be found here. 1.25% of the stock is currently owned by company insiders.
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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