Gulf International Bank UK Ltd trimmed its position in shares of Hubbell Incorporated (NYSE:HUBB – Get Rating) by 30.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,386 shares of the industrial products company’s stock after selling 3,179 shares during the period. Gulf International Bank UK Ltd’s holdings in Hubbell were worth $1,797,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in HUBB. First Manhattan Co. acquired a new stake in shares of Hubbell during the 1st quarter worth $28,000. Northwest Investment Counselors LLC purchased a new stake in Hubbell during the 4th quarter worth $32,000. Johnson Financial Group Inc. purchased a new stake in Hubbell during the 4th quarter worth $32,000. Atlas Capital Advisors LLC purchased a new stake in Hubbell during the 4th quarter worth $40,000. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Hubbell during the 4th quarter worth $41,000. 89.67% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of analysts recently weighed in on the stock. StockNews.com cut shares of Hubbell from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 23rd. Wells Fargo & Company decreased their price target on shares of Hubbell from $225.00 to $221.00 and set an “equal weight” rating for the company in a research report on Thursday, April 13th. Finally, Mizuho upped their price target on shares of Hubbell from $252.00 to $300.00 in a research report on Wednesday, April 26th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $237.33.
Insider Transactions at Hubbell
In other news, Director Carlos M. Cardoso sold 560 shares of the stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $273.16, for a total transaction of $152,969.60. Following the transaction, the director now owns 1,711 shares of the company’s stock, valued at $467,376.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.66% of the company’s stock.
Hubbell Stock Performance
NYSE:HUBB opened at $317.07 on Monday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.99 and a quick ratio of 1.25. The firm has a 50-day moving average of $282.04 and a two-hundred day moving average of $253.70. The stock has a market cap of $16.99 billion, a P/E ratio of 30.28, a PEG ratio of 2.30 and a beta of 0.99. Hubbell Incorporated has a 1-year low of $174.93 and a 1-year high of $326.62.
Hubbell (NYSE:HUBB – Get Rating) last posted its quarterly earnings data on Tuesday, April 25th. The industrial products company reported $3.61 earnings per share for the quarter, beating analysts’ consensus estimates of $2.46 by $1.15. Hubbell had a net margin of 11.15% and a return on equity of 27.72%. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same period in the prior year, the company posted $2.12 EPS. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. On average, research analysts expect that Hubbell Incorporated will post 13.81 earnings per share for the current fiscal year.
Hubbell Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st were given a dividend of $1.12 per share. The ex-dividend date of this dividend was Tuesday, May 30th. This represents a $4.48 annualized dividend and a dividend yield of 1.41%. Hubbell’s payout ratio is 42.79%.
Hubbell Company Profile
Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and utility solutions in the United States and internationally. It operates through two segments, Electrical Solutions and Utility Solutions. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures, and other electrical equipment for use in industrial, commercial, and institutional facilities by electrical contractors, maintenance personnel, electricians, utilities, and telecommunications companies, as well as components and assemblies.
See Also
Want to see what other hedge funds are holding HUBB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hubbell Incorporated (NYSE:HUBB – Get Rating).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Hubbell, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Hubbell wasn’t on the list.
While Hubbell currently has a “Reduce” rating among analysts, top-rated analysts believe these five stocks are better buys.
MarketBeat’s analysts have just released their top five short plays for July 2023. Learn which stocks have the most short interest and how to trade them. Click the link below to see which companies made the list.
