Swiss National Bank Buys 1,100 Shares of Hubbell Inc (HUBB)
Swiss National Bank lifted its stake in shares of Hubbell Inc (NYSE:HUBB) by 1.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 87,800 shares of the industrial products company’s stock after acquiring an additional 1,100 shares during the quarter. Swiss National Bank owned 0.16% of Hubbell worth $9,936,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. World Asset Management Inc boosted its stake in Hubbell by 0.3% in the second quarter. World Asset Management Inc now owns 3,886 shares of the industrial products company’s stock valued at $440,000 after acquiring an additional 12 shares in the last quarter. Somerset Trust Co boosted its stake in Hubbell by 0.4% in the second quarter. Somerset Trust Co now owns 5,329 shares of the industrial products company’s stock valued at $603,000 after acquiring an additional 22 shares in the last quarter. FineMark National Bank & Trust boosted its stake in Hubbell by 0.5% in the second quarter. FineMark National Bank & Trust now owns 5,286 shares of the industrial products company’s stock valued at $598,000 after acquiring an additional 27 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Hubbell by 1.1% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 2,552 shares of the industrial products company’s stock valued at $306,000 after acquiring an additional 29 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in Hubbell by 6.3% in the second quarter. State of Alaska Department of Revenue now owns 2,530 shares of the industrial products company’s stock valued at $286,000 after acquiring an additional 150 shares in the last quarter. 85.53% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have issued reports on HUBB. BidaskClub upgraded shares of Hubbell from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. JMP Securities assumed coverage on shares of Hubbell in a research note on Monday, June 19th. They set a “market perform” rating for the company. Zacks Investment Research upgraded shares of Hubbell from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Finally, Wolfe Research assumed coverage on shares of Hubbell in a research note on Tuesday, July 11th. They set a “market perform” rating for the company. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. Hubbell presently has an average rating of “Hold” and a consensus target price of $126.67.
Hubbell Inc (NYSE:HUBB) opened at 114.94 on Thursday. The company’s 50-day moving average is $114.50 and its 200 day moving average is $116.12. Hubbell Inc has a 12-month low of $101.15 and a 12-month high of $125.93. The stock has a market capitalization of $6.29 billion, a PE ratio of 21.81 and a beta of 1.03.
Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.11. Hubbell had a net margin of 8.23% and a return on equity of 19.77%. The business had revenue of $948.30 million during the quarter, compared to analyst estimates of $937.35 million. During the same period in the previous year, the business posted $1.53 EPS. The company’s quarterly revenue was up 4.3% on a year-over-year basis. On average, analysts predict that Hubbell Inc will post $5.51 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be issued a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.44%. The ex-dividend date of this dividend is Tuesday, August 29th. Hubbell’s dividend payout ratio (DPR) is presently 53.03%.
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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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