YorkBridge Wealth Partners LLC Acquires New Stake in Hubbell Inc (HUBB)
YorkBridge Wealth Partners LLC acquired a new position in Hubbell Inc (NYSE:HUBB) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,980 shares of the industrial products company’s stock, valued at approximately $225,000.
Other institutional investors have also recently modified their holdings of the company. Meeder Asset Management Inc. increased its stake in shares of Hubbell by 2,397.4% during the second quarter. Meeder Asset Management Inc. now owns 974 shares of the industrial products company’s stock worth $110,000 after purchasing an additional 935 shares in the last quarter. Acrospire Investment Management LLC increased its stake in shares of Hubbell by 103.1% during the second quarter. Acrospire Investment Management LLC now owns 985 shares of the industrial products company’s stock worth $111,000 after purchasing an additional 500 shares in the last quarter. Global X Management Co. LLC increased its stake in shares of Hubbell by 220.0% during the second quarter. Global X Management Co. LLC now owns 1,760 shares of the industrial products company’s stock worth $199,000 after purchasing an additional 1,210 shares in the last quarter. Oxford Asset Management purchased a new stake in Hubbell during the 1st quarter valued at about $215,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Hubbell by 8.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,071 shares of the industrial products company’s stock valued at $234,000 after acquiring an additional 163 shares in the last quarter. Institutional investors and hedge funds own 85.15% of the company’s stock.
Several analysts recently issued reports on the stock. Zacks Investment Research raised shares of Hubbell from a “hold” rating to a “buy” rating and set a $128.00 price objective for the company in a research note on Wednesday. BidaskClub raised shares of Hubbell from a “sell” rating to a “hold” rating in a research note on Wednesday. Wolfe Research assumed coverage on shares of Hubbell in a research note on Tuesday, July 11th. They set a “market perform” rating for the company. Finally, JMP Securities assumed coverage on shares of Hubbell in a research note on Monday, June 19th. They set a “market perform” rating for the company. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Hubbell currently has a consensus rating of “Hold” and an average price target of $123.67.
Hubbell Inc (NYSE HUBB) traded up 0.14% during mid-day trading on Friday, hitting $116.02. 241,027 shares of the stock traded hands. The company has a market cap of $6.35 billion, a price-to-earnings ratio of 22.01 and a beta of 1.03. 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 is $113.69 and its 200-day moving average is $115.88.
Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, July 25th. The industrial products company reported $1.51 earnings per share (EPS) 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 the consensus estimate of $937.35 million. During the same period in the previous year, the firm earned $1.53 earnings per share. Hubbell’s revenue was up 4.3% compared to the same quarter last year. Equities research analysts expect that Hubbell Inc will post $5.51 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were paid a dividend of $0.70 per share. The ex-dividend date of this dividend was Tuesday, August 29th. This represents a $2.80 annualized dividend and a yield of 2.41%. Hubbell’s dividend payout ratio is currently 53.03%.
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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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