Stone Ridge Asset Management LLC bought a new stake in Hubbell Incorporated (NYSE:HUBB) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 12,886 shares of the industrial products company’s stock, valued at approximately $1,744,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quantbot Technologies LP lifted its stake in shares of Hubbell by 33.3% in the 3rd quarter. Quantbot Technologies LP now owns 6,699 shares of the industrial products company’s stock valued at $777,000 after acquiring an additional 1,675 shares during the last quarter. FTB Advisors Inc. purchased a new position in Hubbell during the 4th quarter valued at about $292,000. Ameriprise Financial Inc. increased its holdings in Hubbell by 6.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 211,211 shares of the industrial products company’s stock valued at $24,506,000 after purchasing an additional 12,019 shares during the period. BTIM Corp. increased its holdings in Hubbell by 0.8% during the 4th quarter. BTIM Corp. now owns 503,745 shares of the industrial products company’s stock valued at $68,177,000 after purchasing an additional 4,056 shares during the period. Finally, American Century Companies Inc. increased its holdings in Hubbell by 0.3% during the 4th quarter. American Century Companies Inc. now owns 1,776,319 shares of the industrial products company’s stock valued at $240,407,000 after purchasing an additional 5,685 shares during the period. 85.96% of the stock is owned by institutional investors.
Hubbell Incorporated (HUBB) opened at $125.54 on Wednesday. Hubbell Incorporated has a twelve month low of $109.32 and a twelve month high of $149.03. The stock has a market capitalization of $6,857.14, a PE ratio of 21.09, a P/E/G ratio of 1.74 and a beta of 1.00. The company has a current ratio of 2.27, a quick ratio of 1.37 and a debt-to-equity ratio of 0.60.
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. The ex-dividend date is Tuesday, February 27th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.45%. Hubbell’s dividend payout ratio (DPR) is 70.00%.
HUBB has been the topic of a number of research analyst reports. Wells Fargo & Co restated a “buy” rating and set a $143.00 price target (up previously from $136.00) on shares of Hubbell in a report on Wednesday, December 20th. Zacks Investment Research upgraded Hubbell from a “hold” rating to a “buy” rating and set a $151.00 price target on the stock in a report on Tuesday, December 26th. JPMorgan Chase & Co. restated a “hold” rating on shares of Hubbell in a report on Thursday, December 28th. Finally, Oppenheimer upgraded Hubbell from a “market perform” rating to an “outperform” rating and set a $160.00 price target on the stock in a report on Friday, January 12th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Hubbell has a consensus rating of “Buy” and a consensus price target of $152.00.
In other Hubbell news, VP Stephen M. Mais sold 4,692 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $135.59, for a total transaction of $636,188.28. Following the transaction, the vice president now owns 16,669 shares in the company, valued at approximately $2,260,149.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman David G. Nord sold 12,076 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $133.76, for a total value of $1,615,285.76. 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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