DekaBank Deutsche Girozentrale purchased a new position in shares of Hubbell Incorporated (NYSE:HUBB) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,500 shares of the industrial products company’s stock, valued at approximately $976,000.
Other large investors also recently bought and sold shares of the company. North Star Investment Management Corp. purchased a new position in shares of Hubbell in the 4th quarter valued at $43,000. Tarbox Family Office Inc. raised its stake in shares of Hubbell by 1,944.0% in the 4th quarter. Tarbox Family Office Inc. now owns 511 shares of the industrial products company’s stock valued at $76,000 after acquiring an additional 486 shares during the period. Quadrant Capital Group LLC raised its stake in shares of Hubbell by 127.2% in the 3rd quarter. Quadrant Capital Group LLC now owns 602 shares of the industrial products company’s stock valued at $75,000 after acquiring an additional 337 shares during the period. CFM Wealth Partners LLC purchased a new position in shares of Hubbell in the 4th quarter valued at $100,000. Finally, MUFG Americas Holdings Corp purchased a new position in shares of Hubbell in the 3rd quarter valued at $105,000. 84.77% of the stock is currently owned by institutional investors.
A number of equities analysts have recently commented on the stock. Morgan Stanley raised their target price on shares of Hubbell from $152.00 to $157.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. ValuEngine downgraded shares of Hubbell from a “hold” rating to a “sell” rating in a research note on Friday, January 3rd. Zacks Investment Research raised shares of Hubbell from a “hold” rating to a “buy” rating and set a $166.00 target price on the stock in a research note on Thursday, February 6th. Finally, Wolfe Research downgraded shares of Hubbell from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 9th. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $152.33.
Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, February 4th. The industrial products company reported $1.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.83 by $0.08. Hubbell had a net margin of 8.72% and a return on equity of 23.55%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the firm posted $1.72 EPS. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. Analysts forecast that Hubbell Incorporated will post 8.66 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 28th will be paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.47%. The ex-dividend date is Thursday, February 27th. Hubbell’s dividend payout ratio (DPR) is 44.83%.
In related news, CFO William R. Sperry sold 1,953 shares of Hubbell stock in a transaction on Friday, February 7th. The shares were sold at an average price of $145.17, for a total transaction of $283,517.01. Following the sale, the chief financial officer now owns 78,683 shares of the company’s stock, valued at approximately $11,422,411.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David G. Nord sold 6,458 shares of Hubbell stock in a transaction on Monday, February 10th. The stock was sold at an average price of $146.26, for a total transaction of $944,547.08. Following the sale, the chief executive officer now directly owns 160,602 shares in the company, valued at approximately $23,489,648.52. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.
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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