GW Henssler & Associates Ltd. decreased its position in Hubbell Incorporated (NYSE:HUBB) by 18.1% in the 2nd quarter, HoldingsChannel reports. The firm owned 2,900 shares of the industrial products company’s stock after selling 640 shares during the period. GW Henssler & Associates Ltd.’s holdings in Hubbell were worth $378,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in HUBB. Coastal Capital Group Inc. purchased a new stake in Hubbell in the 2nd quarter valued at about $66,000. CENTRAL TRUST Co grew its holdings in Hubbell by 125.0% in the 2nd quarter. CENTRAL TRUST Co now owns 360 shares of the industrial products company’s stock valued at $45,000 after buying an additional 200 shares during the period. Jacobs & Co. CA purchased a new stake in Hubbell in the 1st quarter valued at about $3,047,000. BB&T Corp grew its holdings in Hubbell by 8.6% in the 2nd quarter. BB&T Corp now owns 14,876 shares of the industrial products company’s stock valued at $1,940,000 after buying an additional 1,174 shares during the period. Finally, Crossmark Global Holdings Inc. grew its holdings in Hubbell by 7.7% in the 1st quarter. Crossmark Global Holdings Inc. now owns 5,737 shares of the industrial products company’s stock valued at $677,000 after buying an additional 410 shares during the period. 88.19% of the stock is owned by hedge funds and other institutional investors.
Several analysts have commented on HUBB shares. Zacks Investment Research cut Hubbell from a “buy” rating to a “hold” rating in a report on Saturday, July 13th. Stephens initiated coverage on Hubbell in a report on Monday, July 8th. They issued an “overweight” rating and a $140.00 price target for the company. Morgan Stanley set a $138.00 target price on Hubbell and gave the stock a “hold” rating in a report on Wednesday, July 31st. Finally, Gabelli initiated coverage on Hubbell in a report on Wednesday. They set a “buy” rating and a $160.00 target price for the company. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Hubbell currently has a consensus rating of “Hold” and a consensus target price of $144.33.
Shares of NYSE:HUBB traded up $0.06 during trading on Thursday, reaching $128.66. 490 shares of the stock were exchanged, compared to its average volume of 300,386. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.22 and a current ratio of 1.98. Hubbell Incorporated has a 12-month low of $91.88 and a 12-month high of $137.67. The firm has a market cap of $6.95 billion, a price-to-earnings ratio of 17.57, a price-to-earnings-growth ratio of 1.58 and a beta of 1.48. The firm’s 50-day moving average price is $127.08 and its 200 day moving average price is $122.77.
Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.15 by $0.16. Hubbell had a return on equity of 23.63% and a net margin of 8.03%. The business had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same quarter in the previous year, the business earned $2.09 EPS. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. As a group, equities research analysts forecast that Hubbell Incorporated will post 8.08 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date is Thursday, August 29th. Hubbell’s payout ratio is currently 46.09%.
Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, 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.
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