AlphaCrest Capital Management LLC Lowers Stock Position in Hubbell Incorporated (NYSE:HUBB)

AlphaCrest Capital Management LLC cut its holdings in shares of Hubbell Incorporated (NYSE:HUBBGet Rating) by 53.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,524 shares of the industrial products company’s stock after selling 6,229 shares during the period. AlphaCrest Capital Management LLC’s holdings in Hubbell were worth $1,150,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in HUBB. Morgan Stanley grew its position in shares of Hubbell by 5.8% during the second quarter. Morgan Stanley now owns 251,706 shares of the industrial products company’s stock worth $47,029,000 after acquiring an additional 13,779 shares during the last quarter. Deutsche Bank AG lifted its holdings in shares of Hubbell by 3.8% during the third quarter. Deutsche Bank AG now owns 5,582 shares of the industrial products company’s stock worth $1,008,000 after purchasing an additional 203 shares during the period. Advisor Group Holdings Inc. lifted its holdings in shares of Hubbell by 6.1% during the third quarter. Advisor Group Holdings Inc. now owns 8,095 shares of the industrial products company’s stock worth $1,463,000 after purchasing an additional 462 shares during the period. Advisory Services Network LLC lifted its holdings in shares of Hubbell by 88.5% during the third quarter. Advisory Services Network LLC now owns 1,508 shares of the industrial products company’s stock worth $272,000 after purchasing an additional 708 shares during the period. Finally, JustInvest LLC lifted its holdings in shares of Hubbell by 94.4% during the third quarter. JustInvest LLC now owns 2,261 shares of the industrial products company’s stock worth $409,000 after purchasing an additional 1,098 shares during the period. Institutional investors and hedge funds own 86.37% of the company’s stock.

Hubbell stock opened at $194.18 on Friday. Hubbell Incorporated has a one year low of $170.76 and a one year high of $212.54. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.27 and a current ratio of 2.00. The business has a fifty day moving average of $188.30 and a two-hundred day moving average of $194.25. The company has a market cap of $10.42 billion, a P/E ratio of 21.18, a price-to-earnings-growth ratio of 2.04 and a beta of 1.13.

Hubbell (NYSE:HUBBGet Rating) last released its quarterly earnings data on Tuesday, April 26th. The industrial products company reported $2.12 EPS for the quarter, topping the consensus estimate of $1.86 by $0.26. Hubbell had a net margin of 10.77% and a return on equity of 21.89%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the firm earned $1.72 EPS. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. Sell-side analysts predict that Hubbell Incorporated will post 9.29 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Tuesday, May 31st will be given a $1.05 dividend. The ex-dividend date of this dividend is Friday, May 27th. This represents a $4.20 annualized dividend and a dividend yield of 2.16%. Hubbell’s dividend payout ratio is presently 45.80%.

Several equities research analysts recently weighed in on the company. Zacks Investment Research raised Hubbell from a “sell” rating to a “hold” rating in a report on Tuesday, February 15th. Morgan Stanley increased their price target on Hubbell from $198.00 to $200.00 and gave the stock an “equal weight” rating in a report on Thursday, April 7th. Wells Fargo & Company raised their target price on Hubbell from $181.00 to $200.00 in a report on Thursday, April 28th. Mizuho reduced their target price on Hubbell from $240.00 to $220.00 and set a “buy” rating for the company in a report on Monday, February 7th. Finally, StockNews.com raised Hubbell from a “hold” rating to a “buy” rating in a report on Saturday, April 30th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Hubbell currently has an average rating of “Hold” and a consensus target price of $207.00.

Hubbell Company Profile (Get Rating)

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical Solution and Utility Solution. 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 for the natural gas distribution market.

Further Reading

Institutional Ownership by Quarter for Hubbell (NYSE:HUBB)

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