NGAM Advisors L.P. boosted its stake in Hubbell Inc (NYSE:HUBB) by 4.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,476 shares of the industrial products company’s stock after buying an additional 865 shares during the period. NGAM Advisors L.P.’s holdings in Hubbell were worth $2,544,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in HUBB. Meeder Asset Management Inc. boosted its stake in Hubbell by 2,397.4% in the second quarter. Meeder Asset Management Inc. now owns 974 shares of the industrial products company’s stock valued at $110,000 after buying an additional 935 shares during the last quarter. TLP Group LLC purchased a new stake in Hubbell during the first quarter valued at about $126,000. Baystate Wealth Management LLC boosted its stake in Hubbell by 60.3% in the first quarter. Baystate Wealth Management LLC now owns 1,087 shares of the industrial products company’s stock valued at $128,000 after buying an additional 409 shares during the last quarter. Tocqueville Asset Management L.P. purchased a new stake in Hubbell during the first quarter valued at about $204,000. Finally, Flinton Capital Management LLC boosted its stake in Hubbell by 7.1% in the first quarter. Flinton Capital Management LLC now owns 1,696 shares of the industrial products company’s stock valued at $204,000 after buying an additional 112 shares during the last quarter. Hedge funds and other institutional investors own 85.30% of the company’s stock.
Shares of Hubbell Inc (HUBB) opened at 115.02 on Friday. The firm’s 50 day moving average is $116.03 and its 200-day moving average is $117.68. Hubbell Inc has a 12 month low of $101.15 and a 12 month high of $125.93. The firm has a market capitalization of $6.29 billion, a PE ratio of 21.82 and a beta of 1.01.
Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.51 EPS for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.11. Hubbell had a net margin of 8.23% and a return on equity of 19.77%. The company had revenue of $948.30 million during the quarter, compared to the consensus estimate of $937.35 million. During the same quarter in the prior year, the company posted $1.53 EPS. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, analysts expect that Hubbell Inc will post $5.51 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Tuesday, August 29th. Hubbell’s dividend payout ratio is currently 53.03%.
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A number of equities research analysts have weighed in on HUBB shares. Zacks Investment Research upgraded shares of Hubbell from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Wolfe Research started coverage on shares of Hubbell in a research report on Tuesday, July 11th. They set a “market perform” rating for the company. Finally, JMP Securities started coverage on shares of Hubbell in a research report on Monday, June 19th. They set a “market perform” rating for the company. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $126.67.
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’s segments include Electrical and the Power. The Electrical segment consists of businesses that sell stock and custom products, including standard and special application wiring device products, rough-in electrical products, lighting fixtures and controls, components and assemblies for the natural gas distribution market, as well as other electrical equipment.
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