California Public Employees Retirement System Boosts Holdings in Hubbell Inc (HUBB)
California Public Employees Retirement System raised its holdings in shares of Hubbell Inc (NYSE:HUBB) by 4.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 143,201 shares of the industrial products company’s stock after purchasing an additional 6,700 shares during the period. California Public Employees Retirement System owned 0.26% of Hubbell worth $16,206,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of HUBB. Meeder Asset Management Inc. raised its position in shares of Hubbell by 2,397.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 974 shares of the industrial products company’s stock worth $110,000 after acquiring an additional 935 shares in the last quarter. Acrospire Investment Management LLC lifted its stake in shares of Hubbell by 103.1% during the 2nd quarter. Acrospire Investment Management LLC now owns 985 shares of the industrial products company’s stock worth $111,000 after purchasing an additional 500 shares during the last quarter. Global X Management Co. LLC lifted its stake in shares of Hubbell by 220.0% during the 2nd quarter. Global X Management Co. LLC now owns 1,760 shares of the industrial products company’s stock worth $199,000 after purchasing an additional 1,210 shares during the last quarter. Oxford Asset Management purchased a new stake in shares of Hubbell during the 1st quarter worth $215,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Hubbell by 8.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,071 shares of the industrial products company’s stock worth $234,000 after purchasing an additional 163 shares during the last quarter. 85.15% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages recently weighed in on HUBB. BidaskClub raised Hubbell from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. Zacks Investment Research upgraded shares of Hubbell from a “sell” rating to a “hold” rating in a report on Thursday, June 29th. JMP Securities began coverage on shares of Hubbell in a report on Monday, June 19th. They issued a “market perform” rating for the company. Wolfe Research began coverage on shares of Hubbell in a report on Tuesday, July 11th. They issued a “market perform” rating for the company. Finally, Morgan Stanley increased their price target on shares of Hubbell from $130.00 to $132.00 and gave the company an “overweight” rating in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $124.00.
Shares of Hubbell Inc (NYSE:HUBB) opened at 117.22 on Tuesday. The firm has a market capitalization of $6.41 billion, a P/E ratio of 22.24 and a beta of 1.04. Hubbell Inc has a 52 week low of $101.15 and a 52 week high of $125.93. The firm has a 50-day moving average of $112.93 and a 200 day moving average of $115.50.
Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.11. The company had revenue of $948.30 million for the quarter, compared to the consensus estimate of $937.35 million. Hubbell had a return on equity of 19.77% and a net margin of 8.23%. Hubbell’s revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.53 EPS. On average, equities research analysts expect that Hubbell Inc will post $5.51 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were paid a dividend of $0.70 per share. The ex-dividend date was Tuesday, August 29th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.39%. Hubbell’s payout ratio is 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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