Hubbell Incorporated (HUBB) Stake Increased by Vident Investment Advisory LLC
Vident Investment Advisory LLC grew its holdings in Hubbell Incorporated (NYSE:HUBB) by 79.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,949 shares of the industrial products company’s stock after buying an additional 3,510 shares during the quarter. Vident Investment Advisory LLC’s holdings in Hubbell were worth $1,076,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of HUBB. Goldman Sachs Group Inc. lifted its holdings in shares of Hubbell by 21.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,531,331 shares of the industrial products company’s stock valued at $207,251,000 after buying an additional 272,407 shares during the period. Anchor Bolt Capital LP acquired a new position in Hubbell during the fourth quarter worth $25,272,000. Cadinha & Co. LLC raised its holdings in Hubbell by 1,598.0% during the fourth quarter. Cadinha & Co. LLC now owns 136,862 shares of the industrial products company’s stock worth $18,523,000 after purchasing an additional 128,802 shares during the last quarter. Bain Capital Public Equity Management LLC acquired a new position in Hubbell during the fourth quarter worth $13,464,000. Finally, Allianz Asset Management GmbH acquired a new position in Hubbell during the fourth quarter worth $13,249,000. 85.47% of the stock is owned by institutional investors and hedge funds.
In other Hubbell news, Chairman David G. Nord sold 12,076 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $133.76, for a total transaction of $1,615,285.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Stephen M. Mais sold 4,692 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $135.59, for a total value of $636,188.28. Following the sale, the vice president now directly owns 16,669 shares of the company’s stock, valued at approximately $2,260,149.71. The disclosure for this sale can be found here. 1.28% of the stock is currently owned by insiders.
Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $1.54 EPS for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.12. The business had revenue of $917.70 million during the quarter, compared to the consensus estimate of $901.23 million. Hubbell had a return on equity of 20.16% and a net margin of 6.63%. The business’s revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.35 earnings per share. equities research analysts anticipate that Hubbell Incorporated will post 7.18 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th were given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend was Tuesday, February 27th. Hubbell’s dividend payout ratio (DPR) is presently 70.00%.
A number of equities analysts have recently weighed in on the company. Wells Fargo reissued a “buy” rating and issued a $143.00 price target (up from $136.00) on shares of Hubbell in a report on Wednesday, December 20th. Zacks Investment Research raised Hubbell from a “hold” rating to a “buy” rating and set a $151.00 price target for the company in a report on Tuesday, December 26th. JPMorgan Chase & Co. reissued a “hold” rating on shares of Hubbell in a report on Thursday, December 28th. Finally, Oppenheimer raised Hubbell from a “market perform” rating to an “outperform” rating and set a $160.00 price target for the company in a report on Friday, January 12th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $152.00.
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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