Hubbell Inc (NYSE:HUBB) Stake Decreased by Pointe Capital Management LLC
Pointe Capital Management LLC cut its stake in Hubbell Inc (NYSE:HUBB) by 10.0% during the second quarter, Holdings Channel reports. The firm owned 2,088 shares of the industrial products company’s stock after selling 233 shares during the period. Pointe Capital Management LLC’s holdings in Hubbell were worth $236,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of HUBB. World Asset Management Inc boosted its stake in shares of 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 buying an additional 12 shares during the period. Somerset Trust Co boosted its stake in shares of 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 buying an additional 22 shares during the period. FineMark National Bank & Trust boosted its stake in shares of 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 buying an additional 27 shares during the period. Raymond James Financial Services Advisors Inc. boosted its stake in shares of 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 buying an additional 29 shares during the period. Finally, Capstone Asset Management Co. boosted its stake in shares of Hubbell by 1.8% in the first quarter. Capstone Asset Management Co. now owns 5,527 shares of the industrial products company’s stock valued at $664,000 after buying an additional 100 shares during the period. 85.30% of the stock is owned by institutional investors and hedge funds.
Shares of Hubbell Inc (NYSE:HUBB) opened at 115.53 on Friday. The firm has a market cap of $6.32 billion, a PE ratio of 21.92 and a beta of 1.01. Hubbell Inc has a 12 month low of $101.15 and a 12 month high of $125.93. The stock has a 50 day moving average price of $115.96 and a 200 day moving average price of $117.69.
Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.51 EPS for the quarter, beating the Zacks’ 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 analysts’ expectations of $937.35 million. During the same quarter in the prior year, the company earned $1.53 EPS. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. On average, equities research analysts expect that Hubbell Inc will post $5.51 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date is Tuesday, August 29th. Hubbell’s dividend payout ratio is currently 53.03%.
Several brokerages have recently commented on HUBB. JMP Securities began coverage on Hubbell in a research report on Monday, June 19th. They issued a “market perform” rating for the company. Zacks Investment Research raised Hubbell from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Finally, Wolfe Research began coverage on Hubbell in a research report on Tuesday, July 11th. They issued a “market perform” rating for the company. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $126.67.
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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