Ingalls & Snyder LLC held its stake in Hubbell Inc (NYSE:HUBB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,110 shares of the industrial products company’s stock at the end of the second quarter. Ingalls & Snyder LLC’s holdings in Hubbell were worth $465,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in Hubbell by 10,789.9% in the first quarter. BlackRock Inc. now owns 4,224,304 shares of the industrial products company’s stock worth $507,129,000 after buying an additional 4,185,513 shares during the period. Vanguard Group Inc. boosted its position in 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. Morgan Stanley boosted its position in Hubbell by 28.6% in the first quarter. Morgan Stanley now owns 652,016 shares of the industrial products company’s stock valued at $78,274,000 after buying an additional 145,181 shares in the last quarter. Boston Partners boosted its position in 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. Finally, BTIM Corp. boosted its position in Hubbell by 27.8% in the second quarter. BTIM Corp. now owns 481,121 shares of the industrial products company’s stock valued at $54,448,000 after buying an additional 104,708 shares in the last quarter. Hedge funds and other institutional investors own 86.35% of the company’s stock.
Shares of Hubbell Inc (NYSE HUBB) traded down 0.40% during mid-day trading on Friday, reaching $111.65. 224,983 shares of the company’s stock traded hands. The company’s 50 day moving average is $116.17 and its 200-day moving average is $117.49. The firm has a market cap of $6.11 billion, a price-to-earnings ratio of 21.18 and a beta of 1.01. Hubbell Inc has a 52 week low of $101.15 and a 52 week high of $125.93.
Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.40 by $0.11. Hubbell had a net margin of 8.23% and a return on equity of 19.77%. The firm had revenue of $948.30 million for the quarter, compared to analyst estimates of $937.35 million. During the same period in the previous year, the business earned $1.53 EPS. The company’s revenue was up 4.3% compared to the same quarter last year. Equities analysts expect 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. Stockholders of record on Thursday, August 31st will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date is Tuesday, August 29th. Hubbell’s dividend payout ratio (DPR) is presently 53.03%.
Several research analysts have issued reports on the company. Zacks Investment Research raised Hubbell from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. JMP Securities assumed coverage on Hubbell in a report on Monday, June 19th. They issued a “market perform” rating on the stock. Finally, Wolfe Research assumed coverage on Hubbell in a report on Tuesday, July 11th. They issued a “market perform” rating on the stock. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $126.67.
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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