HL Financial Services LLC Sells 107 Shares of Hubbell Inc (HUBB)
HL Financial Services LLC lowered its stake in Hubbell Inc (NYSE:HUBB) by 1.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,243 shares of the industrial products company’s stock after selling 107 shares during the period. HL Financial Services LLC’s holdings in Hubbell were worth $933,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the company. Meeder Asset Management Inc. increased its stake in shares of Hubbell by 2,397.4% in the second quarter. Meeder Asset Management Inc. now owns 974 shares of the industrial products company’s stock worth $110,000 after buying an additional 935 shares during the last quarter. TLP Group LLC purchased a new stake in shares of Hubbell during the first quarter worth about $126,000. Baystate Wealth Management LLC increased its stake in shares of Hubbell by 60.3% in the first quarter. Baystate Wealth Management LLC now owns 1,087 shares of the industrial products company’s stock worth $128,000 after buying an additional 409 shares during the last quarter. Tocqueville Asset Management L.P. purchased a new stake in shares of Hubbell during the first quarter worth about $204,000. Finally, Flinton Capital Management LLC increased its stake in shares of Hubbell by 7.1% in the first quarter. Flinton Capital Management LLC now owns 1,696 shares of the industrial products company’s stock worth $204,000 after buying an additional 112 shares during the last quarter. 85.30% of the stock is owned by institutional investors.
Shares of Hubbell Inc (NYSE HUBB) opened at 115.02 on Friday. The company has a market capitalization of $6.29 billion, a P/E ratio of 21.82 and a beta of 1.01. Hubbell Inc has a 12 month low of $101.15 and a 12 month high of $125.93. The firm has a 50-day moving average of $116.03 and a 200-day moving average of $117.68.
Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.11. The business had revenue of $948.30 million during the quarter, compared to analyst estimates of $937.35 million. Hubbell had a net margin of 8.23% and a return on equity of 19.77%. Hubbell’s revenue was up 4.3% compared to the same quarter last year. During the same period last year, the business earned $1.53 EPS. On average, equities analysts predict that Hubbell Inc will post $5.51 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be paid a dividend of $0.70 per share. The ex-dividend date is Tuesday, August 29th. This represents a $2.80 dividend on an annualized basis and a yield of 2.43%. Hubbell’s dividend payout ratio is currently 53.03%.
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A number of equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of Hubbell from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Wolfe Research assumed coverage on shares of Hubbell in a research report on Tuesday, July 11th. They issued a “market perform” rating for the company. Finally, JMP Securities assumed coverage on shares of Hubbell in a research report on Monday, June 19th. They issued a “market perform” rating for the company. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock has an average 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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