Retirement Systems of Alabama Boosts Position in Hubbell Inc (HUBB)
Retirement Systems of Alabama boosted its stake in shares of Hubbell Inc (NYSE:HUBB) by 0.2% during the second quarter, Holdings Channel reports. The fund owned 106,664 shares of the industrial products company’s stock after buying an additional 258 shares during the period. Retirement Systems of Alabama’s holdings in Hubbell were worth $12,071,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. increased its position in Hubbell by 2,397.4% in the second quarter. Meeder Asset Management Inc. now owns 974 shares of the industrial products company’s stock valued at $110,000 after buying an additional 935 shares during the last quarter. TLP Group LLC purchased a new position in Hubbell during the first quarter valued at about $126,000. Baystate Wealth Management LLC increased its position in Hubbell by 60.3% in the first quarter. Baystate Wealth Management LLC now owns 1,087 shares of the industrial products company’s stock valued at $128,000 after buying an additional 409 shares during the last quarter. Flinton Capital Management LLC increased its position in Hubbell by 7.1% in the first quarter. Flinton Capital Management LLC now owns 1,696 shares of the industrial products company’s stock valued at $204,000 after buying an additional 112 shares during the last quarter. Finally, Tocqueville Asset Management L.P. purchased a new position in Hubbell during the first quarter valued at about $204,000. 85.30% of the stock is currently owned by hedge funds and other institutional investors.
Hubbell Inc (HUBB) opened at 117.94 on Thursday. The company has a 50 day moving average price of $115.88 and a 200 day moving average price of $117.71. The firm has a market capitalization of $6.45 billion, a P/E ratio of 22.38 and a beta of 1.01. Hubbell Inc has a 52-week low of $101.15 and a 52-week high of $125.93.
Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.40 by $0.11. Hubbell had a net margin of 8.23% and a return on equity of 19.77%. The firm had revenue of $948.30 million during the quarter, compared to analysts’ expectations of $937.35 million. During the same period in the previous year, the company earned $1.53 earnings per share. Hubbell’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, equities analysts forecast that Hubbell Inc will post $5.51 EPS for the current fiscal year.
The business also recently declared 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. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $2.80 dividend on an annualized basis and a yield of 2.37%. Hubbell’s dividend payout ratio (DPR) is presently 53.03%.
Several equities analysts recently issued reports on the company. Wolfe Research assumed coverage on Hubbell in a research report on Tuesday, July 11th. They issued a “market perform” rating on the stock. Zacks Investment Research raised Hubbell from a “sell” rating to a “hold” rating in a research report on Thursday, July 27th. Finally, JMP Securities assumed coverage on Hubbell in a research report on Monday, June 19th. They issued a “market perform” rating on the stock. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $126.67.
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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