Vaughan Nelson Investment Management L.P. boosted its stake in shares of Hubbell Inc (NYSE:HUBB) by 4.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 319,535 shares of the industrial products company’s stock after buying an additional 14,000 shares during the period. Vaughan Nelson Investment Management L.P. owned approximately 0.58% of Hubbell worth $36,162,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Hubbell by 4.7% in the first quarter. Vanguard Group Inc. now owns 4,455,983 shares of the industrial products company’s stock valued at $534,940,000 after buying an additional 201,437 shares in the last quarter. BlackRock Inc. raised its position in shares of Hubbell by 10,789.9% in the first quarter. BlackRock Inc. now owns 4,224,304 shares of the industrial products company’s stock valued at $507,129,000 after buying an additional 4,185,513 shares in the last quarter. State Street Corp raised its position in shares of Hubbell by 3.5% in the first quarter. State Street Corp now owns 1,400,471 shares of the industrial products company’s stock valued at $168,122,000 after buying an additional 47,665 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Hubbell by 5.3% in the first quarter. Victory Capital Management Inc. now owns 1,106,156 shares of the industrial products company’s stock valued at $132,794,000 after buying an additional 55,537 shares in the last quarter. Finally, Boston Partners raised its position in shares of Hubbell by 12.9% in the first quarter. Boston Partners now owns 1,100,419 shares of the industrial products company’s stock valued at $132,105,000 after buying an additional 125,457 shares in the last quarter. 85.30% of the stock is owned by institutional investors and hedge funds.
Shares of Hubbell Inc (HUBB) traded down 0.44% during midday trading on Friday, hitting $115.02. 214,426 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $116.03 and its 200-day moving average is $117.68. The stock has a market cap of $6.29 billion, a PE ratio of 21.82 and a beta of 1.01. Hubbell Inc has a 1-year low of $101.15 and a 1-year high of $125.93.
Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.11. Hubbell had a return on equity of 19.77% and a net margin of 8.23%. The firm had revenue of $948.30 million for the quarter, compared to the consensus estimate of $937.35 million. During the same quarter in the prior year, the company posted $1.53 earnings per share. The firm’s revenue was up 4.3% on a year-over-year basis. Analysts predict that Hubbell Inc will post $5.51 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be issued a $0.70 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $2.80 dividend on an annualized basis and a yield of 2.43%. Hubbell’s dividend payout ratio is currently 53.03%.
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Several equities analysts have recently commented on HUBB shares. Zacks Investment Research upgraded shares of Hubbell from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. Wolfe Research started coverage on shares of Hubbell in a report on Tuesday, July 11th. They issued a “market perform” rating on the stock. Finally, JMP Securities started coverage on shares of Hubbell in a report on Monday, June 19th. They issued a “market perform” rating on the stock. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $126.67.
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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