HighVista Strategies LLC Acquires New Position in Hubbell Inc (HUBB)
HighVista Strategies LLC acquired a new stake in shares of Hubbell Inc (NYSE:HUBB) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,600 shares of the industrial products company’s stock, valued at approximately $294,000.
Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Stifel Financial Corp boosted its stake in shares of Hubbell by 27.3% during the second quarter. Stifel Financial Corp now owns 9,202 shares of the industrial products company’s stock valued at $1,042,000 after acquiring an additional 1,971 shares during the last quarter. Numeric Investors LLC acquired a new stake in shares of Hubbell during the second quarter valued at $351,000. OxFORD Asset Management LLP boosted its stake in shares of Hubbell by 1,460.4% during the second quarter. OxFORD Asset Management LLP now owns 27,900 shares of the industrial products company’s stock valued at $3,157,000 after acquiring an additional 26,112 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Hubbell by 2.9% during the second quarter. Dimensional Fund Advisors LP now owns 349,731 shares of the industrial products company’s stock valued at $39,578,000 after acquiring an additional 10,021 shares during the last quarter. Finally, Virtu KCG Holdings LLC acquired a new stake in shares of Hubbell during the second quarter valued at $784,000. 85.15% of the stock is currently owned by institutional investors and hedge funds.
HUBB has been the topic of a number of analyst reports. Zacks Investment Research raised Hubbell from a “hold” rating to a “buy” rating and set a $128.00 price objective on the stock in a research note on Wednesday. BidaskClub raised Hubbell from a “sell” rating to a “hold” rating in a research note on Wednesday. JMP Securities initiated coverage on Hubbell in a research note on Monday, June 19th. They set a “market perform” rating on the stock. Finally, Wolfe Research initiated coverage on Hubbell in a research note on Tuesday, July 11th. They set a “market perform” rating on the stock. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $123.67.
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Shares of Hubbell Inc (HUBB) opened at 116.02 on Friday. The firm has a 50-day moving average price of $113.69 and a 200-day moving average price of $115.88. Hubbell Inc has a 52 week low of $101.15 and a 52 week high of $125.93. The firm has a market capitalization of $6.35 billion, a price-to-earnings ratio of 22.01 and a beta of 1.03.
Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, July 25th. The industrial products company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.40 by $0.11. The company had revenue of $948.30 million for the quarter, compared to analyst estimates of $937.35 million. Hubbell had a return on equity of 19.77% and a net margin of 8.23%. Hubbell’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.53 earnings per share. On average, equities analysts expect that Hubbell Inc will post $5.51 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date was Tuesday, August 29th. Hubbell’s dividend payout ratio (DPR) is presently 53.03%.
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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