Swiss National Bank Boosts Stake in Hubbell Incorporated (NYSE:HUBB)
Swiss National Bank boosted its stake in Hubbell Incorporated (NYSE:HUBB) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 88,600 shares of the industrial products company’s stock after purchasing an additional 800 shares during the quarter. Swiss National Bank owned about 0.16% of Hubbell worth $11,991,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of HUBB. Reliant Investment Management LLC acquired a new position in shares of Hubbell during the fourth quarter valued at about $3,522,000. Teacher Retirement System of Texas grew its holdings in shares of Hubbell by 315.0% during the fourth quarter. Teacher Retirement System of Texas now owns 17,894 shares of the industrial products company’s stock valued at $2,422,000 after buying an additional 13,582 shares during the last quarter. Price Capital Management Inc. acquired a new position in shares of Hubbell during the fourth quarter valued at about $671,000. American Century Companies Inc. grew its holdings in shares of Hubbell by 0.3% during the fourth quarter. American Century Companies Inc. now owns 1,776,319 shares of the industrial products company’s stock valued at $240,407,000 after buying an additional 5,685 shares during the last quarter. Finally, Aperio Group LLC grew its holdings in shares of Hubbell by 4.8% during the fourth 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 last quarter. Institutional investors and hedge funds own 85.96% of the company’s stock.
In other Hubbell news, Chairman David G. Nord sold 12,076 shares of Hubbell stock in a transaction dated 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 document filed with the SEC, which is accessible through this link. Also, VP Stephen M. Mais sold 4,692 shares of Hubbell stock in a transaction dated Thursday, February 15th. The stock was 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 directly owns 16,669 shares in the company, valued at approximately $2,260,149.71. The disclosure for this sale can be found here. Insiders own 1.28% of the company’s stock.
Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.42 by $0.12. The business had revenue of $917.70 million for 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 firm’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.35 earnings per share. analysts predict that Hubbell Incorporated will post 7.18 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th were given a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend was Tuesday, February 27th. Hubbell’s dividend payout ratio is 70.00%.
HUBB has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Hubbell from a “hold” rating to a “buy” rating and set a $155.00 price objective for the company in a report on Tuesday, January 23rd. Wells Fargo & Co reiterated a “buy” rating and set a $143.00 price objective (up from $136.00) on shares of Hubbell in a report on Wednesday, December 20th. Oppenheimer reiterated a “buy” rating and set a $160.00 price objective on shares of Hubbell in a report on Tuesday, January 30th. Wolfe Research upgraded shares of Hubbell from a “market perform” rating to a “buy” rating and set a $160.00 price target on the stock in a report on Friday, February 9th. Finally, JPMorgan Chase & Co. restated a “hold” rating on shares of Hubbell in a report on Thursday, December 28th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $152.00.
Hubbell Company 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.
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