Pitcairn Co. Has $338,000 Stake in Hubbell Inc (HUBB)
Pitcairn Co. decreased its position in Hubbell Inc (NYSE:HUBB) by 2.5% during the second quarter, Holdings Channel reports. The firm owned 2,990 shares of the industrial products company’s stock after selling 78 shares during the period. Pitcairn Co.’s holdings in Hubbell were worth $338,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in HUBB. Macquarie Group Ltd. acquired a new position in Hubbell during the fourth quarter valued at $3,119,000. American International Group Inc. raised its position in Hubbell by 3.8% in the first quarter. American International Group Inc. now owns 103,042 shares of the industrial products company’s stock valued at $12,370,000 after buying an additional 3,796 shares in the last quarter. Canada Pension Plan Investment Board raised its position in Hubbell by 117.2% in the first quarter. Canada Pension Plan Investment Board now owns 20,200 shares of the industrial products company’s stock valued at $2,425,000 after buying an additional 10,900 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in Hubbell by 6.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 165,335 shares of the industrial products company’s stock valued at $19,849,000 after buying an additional 9,759 shares in the last quarter. Finally, Janus Capital Management LLC raised its position in Hubbell by 204.9% in the first quarter. Janus Capital Management LLC now owns 62,800 shares of the industrial products company’s stock valued at $7,539,000 after buying an additional 42,200 shares in the last quarter. 86.35% of the stock is owned by institutional investors and hedge funds.
Hubbell Inc (NYSE:HUBB) opened at 113.99 on Wednesday. The company has a market capitalization of $6.24 billion, a price-to-earnings ratio of 21.63 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 firm’s 50-day moving average price is $116.13 and its 200 day moving average price is $117.60.
Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.11. Hubbell had a return on equity of 19.77% and a net margin of 8.23%. The firm had revenue of $948.30 million during the quarter, compared to the consensus estimate of $937.35 million. During the same period last year, the business posted $1.53 EPS. The business’s revenue was up 4.3% compared to the same quarter last year. On average, analysts expect that Hubbell Inc will post $5.51 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be issued a dividend of $0.70 per share. The ex-dividend date is Tuesday, August 29th. This represents a $2.80 dividend on an annualized basis and a yield of 2.46%. Hubbell’s payout ratio is currently 53.03%.
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HUBB has been the topic of several recent analyst reports. Zacks Investment Research upgraded Hubbell from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. Wolfe Research initiated coverage on Hubbell in a report on Tuesday, July 11th. They set a “market perform” rating on the stock. Finally, JMP Securities initiated coverage on Hubbell in a report on Monday, June 19th. They set a “market perform” rating on the stock. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Hubbell presently has an average rating of “Hold” and a consensus 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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