Global X Management Co. LLC increased its position in Hubbell Incorporated (NYSE:HUBB) by 75.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,850 shares of the industrial products company’s stock after buying an additional 1,650 shares during the period. Global X Management Co. LLC’s holdings in Hubbell were worth $521,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in HUBB. Cubist Systematic Strategies LLC bought a new stake in Hubbell during the second quarter worth approximately $182,000. Advisors Asset Management Inc. boosted its position in Hubbell by 1,122.0% during the third quarter. Advisors Asset Management Inc. now owns 1,613 shares of the industrial products company’s stock worth $187,000 after purchasing an additional 1,481 shares during the period. Magnetar Financial LLC bought a new stake in Hubbell during the third quarter worth approximately $221,000. Oakwood Capital Management LLC CA bought a new stake in Hubbell during the fourth quarter worth approximately $225,000. Finally, Global X MANAGEMENT CO LLC boosted its position in Hubbell by 25.0% during the third quarter. Global X MANAGEMENT CO LLC now owns 2,200 shares of the industrial products company’s stock worth $255,000 after purchasing an additional 440 shares during the period. Hedge funds and other institutional investors own 82.42% of the company’s stock.
Shares of Hubbell Incorporated (HUBB) opened at $134.39 on Friday. Hubbell Incorporated has a 12-month low of $109.32 and a 12-month high of $149.03. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.27 and a quick ratio of 1.37. The firm has a market capitalization of $7,353.64, a P/E ratio of 22.59, a PEG ratio of 1.86 and a beta of 1.01.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be given a $0.77 dividend. The ex-dividend date of this dividend is Tuesday, February 27th. This represents a $3.08 annualized dividend and a dividend yield of 2.29%. Hubbell’s dividend payout ratio is 70.00%.
HUBB has been the subject of a number of recent analyst reports. Zacks Investment Research raised Hubbell from a “hold” rating to a “buy” rating and set a $152.00 target price for the company in a research report on Tuesday, January 16th. BidaskClub raised Hubbell from a “hold” rating to a “buy” rating in a research report on Friday, October 27th. Wells Fargo & Co reaffirmed a “buy” rating and set a $143.00 target price (up previously from $136.00) on shares of Hubbell in a research report on Wednesday, December 20th. Oppenheimer reaffirmed a “buy” rating and set a $160.00 target price on shares of Hubbell in a research report on Tuesday, January 30th. Finally, Wolfe Research raised Hubbell from a “market perform” rating to a “buy” rating and set a $160.00 target price for the company in a research report on Friday, February 9th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $153.60.
In other news, VP Stephen M. Mais sold 4,692 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $135.59, for a total value of $636,188.28. Following the completion of the sale, the vice president now directly owns 16,669 shares of the company’s stock, valued at $2,260,149.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman David G. Nord sold 12,076 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. 1.28% of the stock is currently owned by corporate insiders.
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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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