Magnus Financial Group LLC bought a new stake in shares of Hubbell Incorporated (NYSE:HUBB) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 2,194 shares of the industrial products company’s stock, valued at approximately $275,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in HUBB. Capital Analysts LLC lifted its stake in shares of Hubbell by 18.1% in the 2nd quarter. Capital Analysts LLC now owns 562 shares of the industrial products company’s stock worth $70,000 after purchasing an additional 86 shares during the period. Van ECK Associates Corp boosted its stake in shares of Hubbell by 45.7% during the 1st quarter. Van ECK Associates Corp now owns 338 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 106 shares during the last quarter. Hayden Royal LLC grew its position in shares of Hubbell by 2.7% during the 1st quarter. Hayden Royal LLC now owns 4,086 shares of the industrial products company’s stock valued at $469,000 after acquiring an additional 109 shares during the period. Cadence Capital Management LLC increased its stake in shares of Hubbell by 1.3% in the 1st quarter. Cadence Capital Management LLC now owns 9,579 shares of the industrial products company’s stock worth $1,099,000 after purchasing an additional 120 shares in the last quarter. Finally, First Quadrant L P CA raised its holdings in Hubbell by 0.4% in the 1st quarter. First Quadrant L P CA now owns 29,925 shares of the industrial products company’s stock worth $3,434,000 after purchasing an additional 129 shares during the period. Institutional investors and hedge funds own 86.23% of the company’s stock.
A number of analysts have commented on HUBB shares. Wells Fargo & Co upped their price target on Hubbell from $137.00 to $140.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Morgan Stanley raised their target price on shares of Hubbell from $132.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Friday, July 31st. Cfra dropped their price target on shares of Hubbell from $163.00 to $146.00 and set a “buy” rating for the company in a research report on Thursday, April 30th. Finally, Zacks Investment Research cut shares of Hubbell from a “buy” rating to a “hold” rating in a research note on Wednesday, August 5th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Hubbell currently has a consensus rating of “Buy” and an average target price of $144.80.
NYSE:HUBB opened at $145.86 on Wednesday. The stock has a 50-day moving average price of $136.09 and a 200 day moving average price of $127.29. The stock has a market capitalization of $7.92 billion, a P/E ratio of 20.20, a P/E/G ratio of 3.01 and a beta of 1.29. Hubbell Incorporated has a 12-month low of $85.62 and a 12-month high of $155.00. The company has a current ratio of 2.04, a quick ratio of 1.35 and a debt-to-equity ratio of 0.82.
Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Thursday, July 30th. The industrial products company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.27. Hubbell had a net margin of 9.09% and a return on equity of 21.79%. The business had revenue of $949.20 million during the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the firm posted $2.31 EPS. The company’s revenue was down 20.7% on a year-over-year basis. On average, research analysts predict that Hubbell Incorporated will post 7.19 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.50%. The ex-dividend date of this dividend is Friday, August 28th. Hubbell’s payout ratio is currently 44.83%.
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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