Balter Liquid Alternatives LLC Invests $577,000 in Hubbell Incorporated (HUBB) Stock
Balter Liquid Alternatives LLC acquired a new position in Hubbell Incorporated (NYSE:HUBB) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 5,438 shares of the industrial products company’s stock, valued at approximately $577,000.
A number of other institutional investors have also made changes to their positions in HUBB. DekaBank Deutsche Girozentrale purchased a new stake in Hubbell in the 1st quarter worth about $111,000. Point72 Asia Hong Kong Ltd purchased a new stake in Hubbell in the 1st quarter worth about $143,000. Vigilant Capital Management LLC purchased a new stake in Hubbell in the 2nd quarter worth about $188,000. Cornerstone Wealth Management LLC purchased a new stake in Hubbell in the 2nd quarter worth about $210,000. Finally, Oppenheimer & Co. Inc. purchased a new stake in Hubbell in the 1st quarter worth about $223,000. 86.05% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts recently issued reports on the company. Zacks Investment Research raised Hubbell from a “hold” rating to a “buy” rating and set a $136.00 price objective for the company in a research note on Thursday, July 26th. ValuEngine raised Hubbell from a “sell” rating to a “hold” rating in a research note on Thursday, July 26th. Morgan Stanley raised their price target on Hubbell from $133.00 to $136.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 25th. Wells Fargo & Co reaffirmed an “outperform” rating and set a $140.00 price target (up from $135.00) on shares of Hubbell in a research note on Wednesday, July 25th. Finally, JMP Securities raised Hubbell from a “market perform” rating to an “outperform” rating in a research note on Monday, June 18th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Hubbell currently has a consensus rating of “Buy” and a consensus price target of $141.67.
Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, July 24th. The industrial products company reported $1.97 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.78 by $0.19. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.12 billion. Hubbell had a return on equity of 21.57% and a net margin of 6.45%. The company’s revenue was up 23.0% on a year-over-year basis. During the same quarter last year, the firm posted $1.43 EPS. research analysts expect that Hubbell Incorporated will post 7.27 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Friday, August 31st will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 2.50%. The ex-dividend date of this dividend is Thursday, August 30th. Hubbell’s dividend payout ratio (DPR) is currently 51.94%.
Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, 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 for the natural gas distribution market.
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