Qube Research & Technologies Ltd Purchases New Shares in Hubbell Incorporated (NYSE:HUBB)
Qube Research & Technologies Ltd purchased a new stake in Hubbell Incorporated (NYSE:HUBB) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,164 shares of the industrial products company’s stock, valued at approximately $282,000.
Several other institutional investors have also added to or reduced their stakes in HUBB. Cullen Frost Bankers Inc. increased its position in Hubbell by 1,950.0% in the second quarter. Cullen Frost Bankers Inc. now owns 205 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 195 shares during the period. Advisory Services Network LLC increased its position in Hubbell by 57.1% in the second quarter. Advisory Services Network LLC now owns 322 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 117 shares during the period. CENTRAL TRUST Co increased its position in Hubbell by 125.0% in the second quarter. CENTRAL TRUST Co now owns 360 shares of the industrial products company’s stock worth $45,000 after purchasing an additional 200 shares during the period. Steward Partners Investment Advisory LLC acquired a new stake in Hubbell in the second quarter worth about $61,000. Finally, Coastal Capital Group Inc. acquired a new stake in Hubbell in the second quarter worth about $66,000. 88.19% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently commented on HUBB. Morgan Stanley set a $138.00 price objective on Hubbell and gave the stock a “hold” rating in a research report on Wednesday, July 31st. Zacks Investment Research lowered Hubbell from a “buy” rating to a “hold” rating in a research report on Saturday, July 13th. Gabelli began coverage on Hubbell in a research report on Wednesday. They issued a “buy” rating and a $160.00 price objective for the company. Finally, Stephens began coverage on Hubbell in a research report on Monday, July 8th. They issued an “overweight” rating and a $140.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $144.33.
Shares of Hubbell stock traded up $1.52 during trading on Wednesday, hitting $129.23. 455 shares of the company were exchanged, compared to its average volume of 302,759. The firm has a market capitalization of $6.86 billion, a P/E ratio of 17.73, a price-to-earnings-growth ratio of 1.56 and a beta of 1.48. Hubbell Incorporated has a 1-year low of $91.88 and a 1-year high of $137.67. The firm’s fifty day moving average price is $127.11 and its 200 day moving average price is $122.68. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.98 and a quick ratio of 1.22.
Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, July 30th. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.15 by $0.16. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.21 billion. Hubbell had a return on equity of 23.63% and a net margin of 8.03%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company earned $2.09 EPS. As a group, equities research analysts anticipate that Hubbell Incorporated will post 8.08 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Friday, August 30th will be given a dividend of $0.84 per share. The ex-dividend date is Thursday, August 29th. This represents a $3.36 annualized dividend and a dividend yield of 2.60%. Hubbell’s payout ratio is currently 46.09%.
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.
Further Reading: Hold Rating
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