Optimum Investment Advisors Maintains Holdings in Hubbell Inc (HUBB)
Optimum Investment Advisors continued to hold its position in shares of Hubbell Inc (NYSE:HUBB) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,115 shares of the industrial products company’s stock at the close of the 2nd quarter. Optimum Investment Advisors’ holdings in Hubbell were worth $239,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Hubbell by 10,789.9% in the 1st quarter. BlackRock Inc. now owns 4,224,304 shares of the industrial products company’s stock worth $507,129,000 after buying an additional 4,185,513 shares in the last quarter. Schroder Investment Management Group raised its holdings in Hubbell by 2,991.4% during the second quarter. Schroder Investment Management Group now owns 537,900 shares of the industrial products company’s stock valued at $60,400,000 after acquiring an additional 520,500 shares during the period. Principal Financial Group Inc. raised its holdings in Hubbell by 65.1% during the second quarter. Principal Financial Group Inc. now owns 588,002 shares of the industrial products company’s stock valued at $66,545,000 after acquiring an additional 231,936 shares during the period. Crawford Investment Counsel Inc. raised its holdings in Hubbell by 735.8% during the second quarter. Crawford Investment Counsel Inc. now owns 247,564 shares of the industrial products company’s stock valued at $28,017,000 after acquiring an additional 217,945 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Hubbell by 4.7% during the first quarter. Vanguard Group Inc. now owns 4,455,983 shares of the industrial products company’s stock valued at $534,940,000 after acquiring an additional 201,437 shares during the period. 85.15% of the stock is owned by institutional investors.
Several brokerages have recently commented on HUBB. Zacks Investment Research upgraded Hubbell from a “hold” rating to a “buy” rating and set a $128.00 price objective on the stock in a research report on Wednesday, September 27th. BidaskClub raised Hubbell from a “sell” rating to a “hold” rating in a research note on Wednesday, September 27th. JMP Securities initiated coverage on Hubbell in a research report on Monday, June 19th. They set a “market perform” rating for the company. Wolfe Research initiated coverage on Hubbell in a research report on Tuesday, July 11th. They set a “market perform” rating for the company. Finally, Morgan Stanley reiterated an “overweight” rating and set a $132.00 target price (up previously from $130.00) on shares of Hubbell in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $124.00.
Hubbell Inc (HUBB) traded down 0.62% during midday trading on Wednesday, hitting $116.81. 58,361 shares of the stock traded hands. The firm has a market cap of $6.39 billion, a PE ratio of 22.16 and a beta of 1.04. Hubbell Inc has a 12 month low of $101.15 and a 12 month high of $125.93. The company’s 50 day moving average price is $112.99 and its 200 day moving average price is $115.48.
Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.51 EPS for the quarter, beating the Thomson Reuters’ 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 company had revenue of $948.30 million for the quarter, compared to analyst estimates of $937.35 million. During the same quarter last year, the business earned $1.53 earnings per share. The firm’s revenue was up 4.3% on a year-over-year basis. Equities research analysts predict that Hubbell Inc will post $5.50 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were given a $0.70 dividend. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.38%. Hubbell’s dividend payout ratio (DPR) is currently 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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