Northwestern Mutual Investment Management Company LLC lifted its stake in shares of Hubbell Inc (NYSE:HUBB) by 1.0% in the second quarter, according to its most recent filing with the SEC. The fund owned 8,979 shares of the industrial products company’s stock after acquiring an additional 93 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in Hubbell were worth $947,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Hubbell by 10,789.9% during 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 during the period. Principal Financial Group Inc. increased its position in shares of Hubbell by 65.1% during the second quarter. Principal Financial Group Inc. now owns 588,002 shares of the industrial products company’s stock valued at $66,545,000 after buying an additional 231,936 shares during the period. Crawford Investment Counsel Inc. increased its position in shares of Hubbell by 735.8% during the second quarter. Crawford Investment Counsel Inc. now owns 247,564 shares of the industrial products company’s stock valued at $28,017,000 after buying an additional 217,945 shares during the period. Vanguard Group Inc. grew its holdings 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 worth $534,940,000 after purchasing an additional 201,437 shares during the period. Finally, American Century Companies Inc. grew its holdings in Hubbell by 12.0% in the second quarter. American Century Companies Inc. now owns 1,705,855 shares of the industrial products company’s stock worth $193,052,000 after purchasing an additional 182,968 shares during the period. Hedge funds and other institutional investors own 85.15% of the company’s stock.
A number of equities research analysts have weighed in on HUBB shares. Wolfe Research initiated coverage on shares of Hubbell in a research note on Tuesday, July 11th. They issued a “market perform” rating on the stock. Zacks Investment Research upgraded shares of Hubbell from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. JMP Securities began coverage on shares of Hubbell in a research report on Monday, June 19th. They set a “market perform” rating on the stock. Finally, BidaskClub upgraded shares of Hubbell from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $126.67.
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Shares of Hubbell Inc (NYSE:HUBB) opened at 113.95 on Friday. The stock has a 50 day moving average of $113.69 and a 200-day moving average of $115.88. Hubbell Inc has a 52 week low of $101.15 and a 52 week high of $125.93. The stock has a market capitalization of $6.23 billion, a PE ratio of 21.62 and a beta of 1.03.
Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, July 25th. The industrial products company reported $1.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.11. Hubbell had a return on equity of 19.77% and a net margin of 8.23%. The business had revenue of $948.30 million during the quarter, compared to analysts’ expectations of $937.35 million. During the same quarter in the previous year, the business earned $1.53 EPS. The company’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities research analysts expect that Hubbell Inc will post $5.51 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date was Tuesday, August 29th. Hubbell’s payout ratio is currently 53.03%.
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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