Bain Capital Public Equity Management LLC Invests $15,350,000 in Hubbell Inc (HUBB)
Bain Capital Public Equity Management LLC bought a new position in shares of Hubbell Inc (NYSE:HUBB) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 131,536 shares of the company’s stock, valued at approximately $15,350,000. Bain Capital Public Equity Management LLC owned approximately 0.24% of Hubbell at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Huntington National Bank bought a new position in Hubbell during the second quarter worth about $263,000. BB&T Corp acquired a new position in shares of Hubbell during the second quarter worth $2,126,000. Lord Abbett & CO. LLC raised its position in shares of Hubbell by 4.8% in the second quarter. Lord Abbett & CO. LLC now owns 828,040 shares of the company’s stock worth $87,333,000 after buying an additional 37,787 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its position in shares of Hubbell by 3.5% in the second quarter. Metropolitan Life Insurance Co. NY now owns 50,545 shares of the company’s stock worth $5,331,000 after buying an additional 1,728 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of Hubbell by 17.2% in the second quarter. Legal & General Group Plc now owns 23,061 shares of the company’s stock worth $2,429,000 after buying an additional 3,384 shares in the last quarter. 83.23% of the stock is currently owned by institutional investors and hedge funds.
Hubbell Inc (NYSE:HUBB) traded down 0.39% during trading on Thursday, reaching $122.13. The company had a trading volume of 166,240 shares. The stock has a 50 day moving average price of $119.93 and a 200 day moving average price of $111.12. Hubbell Inc has a 12 month low of $92.04 and a 12 month high of $125.93. The firm has a market capitalization of $6.75 billion, a price-to-earnings ratio of 23.31 and a beta of 0.95.
Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, January 31st. The company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.12. Hubbell had a return on equity of 19.82% and a net margin of 8.36%. The company had revenue of $854 million for the quarter, compared to analysts’ expectations of $856.45 million. During the same period last year, the firm earned $1.31 EPS. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, equities research analysts predict that Hubbell Inc will post $5.71 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Stockholders of record on Tuesday, February 28th will be given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Friday, February 24th. Hubbell’s dividend payout ratio (DPR) is presently 53.33%.
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A number of research analysts recently weighed in on HUBB shares. Zacks Investment Research lowered Hubbell from a “buy” rating to a “hold” rating in a report on Thursday, October 27th. Barclays PLC reissued a “hold” rating and issued a $105.00 target price on shares of Hubbell in a report on Wednesday, January 18th. Finally, Morgan Stanley raised Hubbell from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $113.00 to $131.00 in a report on Monday, December 19th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $119.00.
In other news, VP Stephen M. Mais sold 3,269 shares of Hubbell stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $122.76, for a total transaction of $401,302.44. Following the transaction, the vice president now directly owns 16,021 shares in the company, valued at approximately $1,966,737.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider William R. Sperry sold 2,513 shares of Hubbell stock in a transaction on Monday, February 6th. The shares were sold at an average price of $122.61, for a total value of $308,118.93. Following the transaction, the insider now owns 43,987 shares in the company, valued at $5,393,246.07. The disclosure for this sale can be found here. 1.25% of the stock is currently owned by company insiders.
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 operates through two segments: Electrical and Power. The Electrical segment consists of electrical systems products and lighting products.
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