Whittier Trust Co. of Nevada Inc. continued to hold its stake in shares of Hubbell Inc. (NYSE:HUBB) during the second quarter, Holdings Channel reports. The fund owned 1,646 shares of the company’s stock at the end of the second quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Hubbell were worth $174,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Bank of Montreal Can purchased a new stake in shares of Hubbell during the second quarter worth about $198,000. New England Research & Management Inc. purchased a new stake in shares of Hubbell during the second quarter worth about $216,000. Optimum Investment Advisors purchased a new stake in shares of Hubbell during the first quarter worth about $224,000. Seven Eight Capital LLC boosted its stake in shares of Hubbell by 1,100.0% in the first quarter. Seven Eight Capital LLC now owns 2,400 shares of the company’s stock worth $254,000 after buying an additional 2,200 shares during the period. Finally, Huntington National Bank purchased a new stake in shares of Hubbell during the second quarter worth about $263,000. 82.13% of the stock is owned by hedge funds and other institutional investors.
Hubbell Inc. (NYSE:HUBB) traded up 0.083% during trading on Wednesday, reaching $102.875. 133,613 shares of the company traded hands. The company has a market capitalization of $5.69 billion, a P/E ratio of 21.185 and a beta of 1.07. Hubbell Inc. has a 52 week low of $83.16 and a 52 week high of $111.23. The firm has a 50-day moving average price of $105.97 and a 200-day moving average price of $105.63.
Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, July 26th. The company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.43 by $0.10. The company had revenue of $909 million for the quarter, compared to the consensus estimate of $874 million. Hubbell had a net margin of 8.01% and a return on equity of 17.48%. The company’s quarterly revenue was up 4.0% on a year-over-year basis. Analysts forecast that Hubbell Inc. will post $5.32 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.45%. The ex-dividend date was Monday, August 29th. Hubbell’s payout ratio is 51.85%.
A number of analysts have recently issued reports on the stock. Zacks Investment Research cut 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 price objective on shares of Hubbell in a research note on Thursday, July 28th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Hubbell from $110.00 to $108.00 and set a “neutral” rating for the company in a research note on Wednesday, July 27th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $105.80.
In other Hubbell news, VP Stephen M. Mais sold 2,804 shares of Hubbell stock in a transaction that occurred on Wednesday, August 17th. The shares were 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 directly owns 12,807 shares in the company, valued at approximately $1,365,610.41. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard J. Swift sold 4,303 shares of Hubbell stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $107.13, for a total transaction of $460,980.39. Following the sale, the director now owns 5,181 shares of the company’s stock, valued at $555,040.53. The disclosure for this sale can be found here. Company 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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