Quantitative Investment Management LLC purchased a new stake in Hubbell Incorporated (NYSE:HUBB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 38,900 shares of the industrial products company’s stock, valued at approximately $5,264,000. Quantitative Investment Management LLC owned 0.07% of Hubbell as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of HUBB. Advisors Asset Management Inc. increased its position in shares of Hubbell by 1,122.0% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,613 shares of the industrial products company’s stock valued at $187,000 after buying an additional 1,481 shares in the last quarter. Oakwood Capital Management LLC CA bought a new stake in shares of Hubbell in the 4th quarter valued at $225,000. Magnetar Financial LLC bought a new stake in shares of Hubbell in the 3rd quarter valued at $221,000. Fox Run Management L.L.C. bought a new stake in shares of Hubbell in the 4th quarter valued at $271,000. Finally, Starfire Investment Advisers Inc. bought a new stake in shares of Hubbell in the 4th quarter valued at $277,000. 85.96% of the stock is currently owned by institutional investors.
A number of research firms recently commented on HUBB. Morgan Stanley lowered their price objective on shares of Hubbell from $153.00 to $145.00 and set an “overweight” rating for the company in a research report on Monday. Wolfe Research upgraded shares of Hubbell from a “market perform” rating to a “buy” rating and set a $160.00 price objective for the company in a research report on Friday, February 9th. Zacks Investment Research upgraded shares of Hubbell from a “hold” rating to a “buy” rating and set a $152.00 price objective for the company in a research report on Thursday, February 1st. Oppenheimer restated a “buy” rating and issued a $160.00 price objective on shares of Hubbell in a research report on Tuesday, January 30th. Finally, JPMorgan Chase & Co. upgraded shares of Hubbell from a “neutral” rating to an “overweight” rating in a research report on Thursday, January 18th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Hubbell presently has a consensus rating of “Buy” and a consensus target price of $152.00.
Hubbell (NYSE:HUBB) last released its earnings results on Tuesday, January 30th. The industrial products company reported $1.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.42 by $0.12. The firm had revenue of $917.70 million during the quarter, compared to analysts’ expectations of $901.23 million. Hubbell had a return on equity of 20.16% and a net margin of 6.63%. The company’s revenue was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.35 EPS. equities analysts forecast that Hubbell Incorporated will post 7.18 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Wednesday, February 28th will be issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend is Tuesday, February 27th. Hubbell’s dividend payout ratio (DPR) is presently 70.00%.
In other news, Chairman David G. Nord sold 12,076 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $133.76, for a total value of $1,615,285.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Stephen M. Mais sold 4,692 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $135.59, for a total value of $636,188.28. Following the completion of the transaction, the vice president now owns 16,669 shares of the company’s stock, valued at approximately $2,260,149.71. The disclosure for this sale can be found here. 1.28% of the stock is currently owned by corporate insiders.
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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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