Hubbell Incorporated (HUBB) Stake Lessened by Federated Investors Inc. PA
Federated Investors Inc. PA lessened its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 14.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 18,548 shares of the industrial products company’s stock after selling 3,007 shares during the quarter. Federated Investors Inc. PA’s holdings in Hubbell were worth $1,961,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in HUBB. American Century Companies Inc. boosted its stake in Hubbell by 46.5% during the 2nd quarter. American Century Companies Inc. now owns 2,792,582 shares of the industrial products company’s stock valued at $295,288,000 after purchasing an additional 885,909 shares during the period. FMR LLC boosted its stake in Hubbell by 25.5% during the 2nd quarter. FMR LLC now owns 1,662,452 shares of the industrial products company’s stock valued at $175,788,000 after purchasing an additional 337,915 shares during the period. BlackRock Inc. boosted its stake in Hubbell by 7.1% during the 2nd quarter. BlackRock Inc. now owns 4,951,945 shares of the industrial products company’s stock valued at $523,619,000 after purchasing an additional 329,485 shares during the period. Selz Capital LLC bought a new stake in Hubbell during the 2nd quarter valued at approximately $26,224,000. Finally, Deprince Race & Zollo Inc. bought a new stake in Hubbell during the 2nd quarter valued at approximately $19,419,000. Institutional investors own 91.85% of the company’s stock.
Hubbell stock opened at $133.88 on Tuesday. The company has a quick ratio of 1.20, a current ratio of 1.99 and a debt-to-equity ratio of 1.12. The company has a market capitalization of $7.20 billion, a price-to-earnings ratio of 22.58, a PEG ratio of 1.81 and a beta of 1.09. Hubbell Incorporated has a 12 month low of $100.55 and a 12 month high of $149.03.
The company also recently declared a quarterly dividend, which was paid on Friday, September 14th. Shareholders of record on Friday, August 31st were issued a $0.77 dividend. The ex-dividend date was Thursday, August 30th. This represents a $3.08 annualized dividend and a yield of 2.30%. Hubbell’s dividend payout ratio (DPR) is 51.94%.
Several analysts recently weighed in on the company. Wolfe Research assumed coverage on Hubbell in a research note on Wednesday, June 27th. They set a “market perform” rating for the company. Morgan Stanley increased their target price on Hubbell from $133.00 to $136.00 and gave the company an “overweight” rating in a research note on Wednesday, July 25th. Zacks Investment Research upgraded Hubbell from a “hold” rating to a “buy” rating and set a $121.00 target price for the company in a research note on Wednesday, June 27th. JMP Securities upgraded Hubbell from a “market perform” rating to an “outperform” rating in a research note on Monday, June 18th. Finally, Wells Fargo & Co restated an “outperform” rating and set a $140.00 target price (up previously from $135.00) on shares of Hubbell in a research note on Wednesday, July 25th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $141.17.
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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