Virtu KCG Holdings LLC purchased a new position in Hubbell Inc (NYSE:HUBB) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,927 shares of the industrial products company’s stock, valued at approximately $784,000.

A number of other hedge funds have also made changes to their positions in HUBB. World Asset Management Inc raised its holdings in Hubbell by 0.3% in the second quarter. World Asset Management Inc now owns 3,886 shares of the industrial products company’s stock worth $440,000 after purchasing an additional 12 shares in the last quarter. Somerset Trust Co raised its holdings in Hubbell by 0.4% in the second quarter. Somerset Trust Co now owns 5,329 shares of the industrial products company’s stock worth $603,000 after purchasing an additional 22 shares in the last quarter. FineMark National Bank & Trust raised its holdings in Hubbell by 0.5% in the second quarter. FineMark National Bank & Trust now owns 5,286 shares of the industrial products company’s stock worth $598,000 after purchasing an additional 27 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Hubbell by 1.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 2,552 shares of the industrial products company’s stock worth $306,000 after purchasing an additional 29 shares in the last quarter. Finally, Northwestern Mutual Investment Management Company LLC raised its holdings in Hubbell by 1.0% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 8,979 shares of the industrial products company’s stock worth $947,000 after purchasing an additional 93 shares in the last quarter. 85.15% of the stock is owned by institutional investors.

HUBB has been the subject of a number of research reports. Zacks Investment Research upgraded Hubbell from a “hold” rating to a “buy” rating and set a $128.00 price objective for the company in a report on Wednesday, September 27th. BidaskClub upgraded Hubbell from a “sell” rating to a “hold” rating in a report on Wednesday, September 27th. Wolfe Research initiated coverage on Hubbell in a report on Tuesday, July 11th. They issued a “market perform” rating for the company. JMP Securities initiated coverage on Hubbell in a report on Monday, June 19th. They issued a “market perform” rating for the company. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $132.00 price objective (up previously from $130.00) on shares of Hubbell in a report on Monday. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $124.00.

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Hubbell Inc (NYSE:HUBB) opened at 118.23 on Thursday. Hubbell Inc has a 12-month low of $101.15 and a 12-month high of $125.93. The firm has a 50-day moving average price of $113.11 and a 200-day moving average price of $115.50. The company has a market cap of $6.47 billion, a P/E ratio of 22.43 and a beta of 1.04.

Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, July 25th. The industrial products company reported $1.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.11. Hubbell had a return on equity of 19.77% and a net margin of 8.23%. The business had revenue of $948.30 million during the quarter, compared to analysts’ expectations of $937.35 million. During the same period in the prior year, the business earned $1.53 EPS. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, equities research analysts forecast that Hubbell Inc will post $5.49 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.37%. The ex-dividend date was Tuesday, August 29th. Hubbell’s dividend payout ratio is 53.03%.

Hubbell Profile

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.

Institutional Ownership by Quarter for Hubbell (NYSE:HUBB)

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