2 weeks Ago By ABMN Staff
Dai ichi Life Insurance Company Ltd trimmed its holdings in Hubbell Incorporated ( NYSE:HUBB – Free Report ) by 69.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,488 shares of the industrial products company’s stock after selling 10,444 shares during the quarter.
Dai ichi Life Insurance Company Ltd’s holdings in Hubbell were worth $1,640,000 at the end of the most recent reporting period. Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nvwm LLC purchased a new stake in Hubbell in the 1st quarter worth approximately $25,000.
EverSource Wealth Advisors LLC increased its holdings in Hubbell by 1,850.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 78 shares of the industrial products company’s stock valued at $26,000 after buying an additional 74 shares in the last quarter.
Principal Securities Inc. acquired a new position in shares of Hubbell in the fourth quarter worth about $40,000. Riverview Trust Co acquired a new stake in shares of Hubbell during the 1st quarter valued at about $52,000.
Finally, Northwest Investment Counselors LLC purchased a new position in shares of Hubbell in the 1st quarter valued at about $56,000. 88.16% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth Several analysts have commented on the company. Stephens reissued an “overweight” rating and issued a $450.00 price objective on shares of Hubbell in a report on Friday, August 2nd.
Wells Fargo & Company increased their price objective on shares of Hubbell from $397.00 to $400.00 and gave the company an “equal weight” rating in a report on Wednesday, July 31st.
Barclays cut their target price on shares of Hubbell from $384.00 to $368.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 31st.
JPMorgan Chase & Co. raised their price target on shares of Hubbell from $383.00 to $385.
00 and gave the company an “overweight” rating in a research note on Wednesday, July 31st. Finally, Deutsche Bank Aktiengesellschaft upgraded Hubbell from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $431.00 to $441.
00 in a research note on Friday, September 6th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $404.
88. Insiders Place Their Bets In other news, Director Carlos M. Cardoso sold 450 shares of the stock in a transaction that occurred on Tuesday, August 6th.
The shares were sold at an average price of $364.54, for a total value of $164,043.00.
Following the completion of the sale, the director now owns 1,670 shares of the company’s stock, valued at approximately $608,781.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link .
In related news, CEO Gerben Bakker sold 15,677 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $374.34, for a total transaction of $5,868,528.
18. Following the completion of the sale, the chief executive officer now directly owns 66,415 shares of the company’s stock, valued at approximately $24,861,791.10.
The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website . Also, Director Carlos M. Cardoso sold 450 shares of the company’s stock in a transaction dated Tuesday, August 6th.
The shares were sold at an average price of $364.54, for a total transaction of $164,043.00.
Following the completion of the transaction, the director now directly owns 1,670 shares in the company, valued at approximately $608,781.80. The disclosure for this sale can be found here .
0.66% of the stock is owned by insiders. Hubbell Price Performance HUBB stock opened at $404.
63 on Monday. Hubbell Incorporated has a 1 year low of $248.37 and a 1 year high of $429.
61. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.
81 and a quick ratio of 1.13. The firm has a market capitalization of $21.
72 billion, a PE ratio of 30.17, a price-to-earnings-growth ratio of 1.44 and a beta of 0.
90. The business has a 50 day simple moving average of $377.87 and a 200-day simple moving average of $387.
61. Hubbell ( NYSE:HUBB – Get Free Report ) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $4.
37 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.24 by $0.13.
Hubbell had a return on equity of 28.98% and a net margin of 13.14%.
The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.48 billion.
During the same period in the prior year, the business earned $4.07 EPS. The firm’s quarterly revenue was up 6.
3% on a year-over-year basis. Equities research analysts anticipate that Hubbell Incorporated will post 16.45 earnings per share for the current fiscal year.
Hubbell Announces Dividend The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Friday, August 30th will be given a dividend of $1.22 per share.
This represents a $4.88 annualized dividend and a yield of 1.21%.
The ex-dividend date of this dividend is Friday, August 30th. Hubbell’s payout ratio is currently 36.39%.
Hubbell Company Profile ( Free Report ) Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and utility solutions in the United States and internationally. It operates through two segments, Electrical Solutions and Utility Solutions. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures, 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.
Featured Articles Want to see what other hedge funds are holding HUBB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hubbell Incorporated ( NYSE:HUBB – Free Report ). Receive News & Ratings for Hubbell Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hubbell and related companies with MarketBeat.
com's FREE daily email newsletter ..
