Ceredex Value Advisors LLC Purchases Shares of 525,625 Hubbell Incorporated (HUBB)

Ceredex Value Advisors LLC purchased a new stake in Hubbell Incorporated (NYSE:HUBB) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 525,625 shares of the industrial products company’s stock, valued at approximately $64,010,000. Ceredex Value Advisors LLC owned about 0.96% of Hubbell at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Glenmede Trust Co. NA increased its stake in Hubbell by 3.8% in the 4th quarter. Glenmede Trust Co. NA now owns 12,693 shares of the industrial products company’s stock valued at $1,717,000 after buying an additional 463 shares during the period. Liberty Mutual Group Asset Management Inc. increased its stake in Hubbell by 3.7% in the 4th quarter. Liberty Mutual Group Asset Management Inc. now owns 13,886 shares of the industrial products company’s stock valued at $1,879,000 after buying an additional 497 shares during the period. Aperio Group LLC increased its stake in Hubbell by 4.8% in the 4th quarter. Aperio Group LLC now owns 11,123 shares of the industrial products company’s stock valued at $1,505,000 after buying an additional 510 shares during the period. Amalgamated Bank increased its stake in Hubbell by 5.7% in the 4th quarter. Amalgamated Bank now owns 11,316 shares of the industrial products company’s stock valued at $1,532,000 after buying an additional 613 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in Hubbell by 23.1% in the 4th quarter. Envestnet Asset Management Inc. now owns 3,776 shares of the industrial products company’s stock valued at $511,000 after buying an additional 709 shares during the period. Hedge funds and other institutional investors own 86.32% of the company’s stock.

Hubbell opened at $106.03 on Friday, MarketBeat.com reports. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.12 and a current ratio of 1.92. Hubbell Incorporated has a fifty-two week low of $105.50 and a fifty-two week high of $105.85. The firm has a market cap of $5.77 billion, a PE ratio of 17.27, a P/E/G ratio of 1.49 and a beta of 1.05.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, April 24th. The industrial products company reported $1.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.36 by $0.03. Hubbell had a net margin of 6.27% and a return on equity of 20.40%. The business had revenue of $991.20 million for the quarter, compared to analysts’ expectations of $975.95 million. During the same period in the prior year, the company posted $1.23 EPS. The business’s revenue for the quarter was up 16.3% on a year-over-year basis. equities research analysts expect that Hubbell Incorporated will post 7.07 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Thursday, May 31st will be paid a dividend of $0.77 per share. The ex-dividend date is Wednesday, May 30th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.90%. Hubbell’s dividend payout ratio (DPR) is presently 51.94%.

In related news, insider Rodd Richard Ruland purchased 2,000 shares of the stock in a transaction dated Friday, April 27th. The shares were acquired at an average cost of $105.19 per share, with a total value of $210,380.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.69% of the company’s stock.

Several equities analysts have issued reports on HUBB shares. Morgan Stanley dropped their price objective on shares of Hubbell from $145.00 to $133.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 25th. JPMorgan Chase raised shares of Hubbell from a “neutral” rating to an “overweight” rating in a research note on Thursday, January 18th. Zacks Investment Research raised shares of Hubbell from a “hold” rating to a “buy” rating and set a $155.00 price objective on the stock in a research note on Tuesday, January 23rd. Wells Fargo dropped their price objective on shares of Hubbell from $156.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 25th. Finally, Oppenheimer dropped their price objective on shares of Hubbell from $160.00 to $140.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 25th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. Hubbell currently has a consensus rating of “Hold” and an average target price of $143.00.

About Hubbell

Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, and other electrical equipment for use in industrial, commercial, and institutional facilities by electrical contractors, maintenance personnel, electricians, utilities, and telecommunications companies, as well as components and assemblies for the natural gas distribution market.

Institutional Ownership by Quarter for Hubbell (NYSE:HUBB)

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