Great West Life Assurance Co. Can Has $3.76 Million Holdings in Hubbell Inc (HUBB)
Great West Life Assurance Co. Can boosted its stake in shares of Hubbell Inc (NYSE:HUBB) by 3.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,415 shares of the industrial products company’s stock after buying an additional 1,123 shares during the period. Great West Life Assurance Co. Can owned 0.06% of Hubbell worth $3,755,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of the business. Acrospire Investment Management LLC lifted its holdings 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 valued at $111,000 after purchasing an additional 500 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Hubbell during the 2nd quarter valued at $182,000. Advisors Asset Management Inc. lifted its holdings in shares of Hubbell by 1,122.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,613 shares of the industrial products company’s stock valued at $187,000 after purchasing an additional 1,481 shares during the last quarter. Global X Management Co. LLC lifted its holdings 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 valued at $199,000 after purchasing an additional 1,210 shares during the last quarter. Finally, YorkBridge Wealth Partners LLC purchased a new stake in shares of Hubbell during the 2nd quarter valued at $225,000. Institutional investors own 85.21% of the company’s stock.
HUBB has been the subject of several analyst reports. BidaskClub upgraded Hubbell from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st. Zacks Investment Research upgraded Hubbell from a “hold” rating to a “buy” rating and set a $128.00 price objective for the company in a report on Wednesday, September 27th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $132.00 price objective (up previously from $130.00) on shares of Hubbell in a report on Monday, October 2nd. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $124.00.
Shares of Hubbell Inc (NYSE HUBB) traded down $0.04 during mid-day trading on Monday, reaching $130.75. The company had a trading volume of 396,500 shares, compared to its average volume of 289,722. The stock has a market cap of $7,152.02, a price-to-earnings ratio of 22.78, a price-to-earnings-growth ratio of 2.40 and a beta of 1.09. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.28 and a quick ratio of 1.43. Hubbell Inc has a one year low of $109.32 and a one year high of $131.68.
Hubbell (NYSE:HUBB) last issued its earnings results on Tuesday, October 24th. The industrial products company reported $1.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.50 by $0.15. The company had revenue of $950.50 million during the quarter, compared to analyst estimates of $960.28 million. Hubbell had a return on equity of 19.69% and a net margin of 7.96%. The firm’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the business posted $1.63 EPS. equities analysts predict that Hubbell Inc will post 5.44 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a $0.77 dividend. This is a positive change from Hubbell’s previous quarterly dividend of $0.70. The ex-dividend date is Wednesday, November 29th. This represents a $3.08 dividend on an annualized basis and a yield of 2.36%. Hubbell’s dividend payout ratio (DPR) is 59.34%.
Hubbell declared that its Board of Directors has initiated a share buyback program on Friday, October 20th that permits the company to repurchase $400.00 million in shares. This repurchase authorization permits the industrial products company to reacquire shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
In related news, insider Gerben Bakker sold 590 shares of the firm’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $125.34, for a total value of $73,950.60. Following the completion of the transaction, the insider now owns 13,249 shares in the company, valued at approximately $1,660,629.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.28% of the company’s stock.
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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’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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