Bank of Montreal Can grew its stake in Hubbell Incorporated (NYSE:HUBB) by 259.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,167 shares of the industrial products company’s stock after buying an additional 3,009 shares during the quarter. Bank of Montreal Can’s holdings in Hubbell were worth $564,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. Starfire Investment Advisers Inc. acquired a new position in shares of Hubbell in the fourth quarter valued at approximately $277,000. Nisa Investment Advisors LLC boosted its holdings in Hubbell by 19.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 10,500 shares of the industrial products company’s stock worth $1,421,000 after purchasing an additional 1,700 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Hubbell by 66.4% during the third quarter. Public Employees Retirement System of Ohio now owns 37,439 shares of the industrial products company’s stock worth $4,344,000 after purchasing an additional 14,936 shares during the last quarter. GSA Capital Partners LLP boosted its holdings in Hubbell by 25.6% during the third quarter. GSA Capital Partners LLP now owns 3,350 shares of the industrial products company’s stock worth $389,000 after purchasing an additional 682 shares during the last quarter. Finally, California Public Employees Retirement System boosted its holdings in Hubbell by 5.3% during the third quarter. California Public Employees Retirement System now owns 150,764 shares of the industrial products company’s stock worth $17,492,000 after purchasing an additional 7,563 shares during the last quarter. Institutional investors own 82.42% of the company’s stock.
Several research analysts recently commented on the stock. Zacks Investment Research cut shares of Hubbell from a “buy” rating to a “hold” rating in a report on Friday, January 12th. Wolfe Research upgraded shares of Hubbell from a “market perform” rating to a “buy” rating and set a $160.00 target price for the company in a report on Friday, February 9th. JPMorgan Chase & Co. restated a “hold” rating on shares of Hubbell in a report on Thursday, December 28th. Oppenheimer upgraded shares of Hubbell from a “market perform” rating to an “outperform” rating and set a $160.00 target price for the company in a report on Friday, January 12th. Finally, Wells Fargo & Co restated a “buy” rating and set a $143.00 target price (up previously from $136.00) on shares of Hubbell in a report on Wednesday, December 20th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Hubbell has an average rating of “Buy” and a consensus target price of $153.60.
Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.12. The firm had revenue of $917.70 million during the quarter, compared to analysts’ expectations of $901.23 million. Hubbell had a net margin of 6.63% and a return on equity of 20.16%. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.35 earnings per share. analysts forecast that Hubbell Incorporated will post 7.2 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th will be paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date is Tuesday, February 27th. Hubbell’s dividend payout ratio is currently 70.00%.
In other Hubbell news, Chairman David G. Nord sold 12,076 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $133.76, for a total value of $1,615,285.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Stephen M. Mais sold 4,692 shares of the stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $135.59, for a total transaction of $636,188.28. Following the completion of the sale, the vice president now owns 16,669 shares of the company’s stock, valued at approximately $2,260,149.71. The disclosure for this sale can be found here. Company insiders own 1.28% of the company’s stock.
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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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