American Century Companies Inc. boosted its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 75.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,463,727 shares of the industrial products company’s stock after purchasing an additional 1,914,706 shares during the period. American Century Companies Inc. owned approximately 8.18% of Hubbell worth $443,427,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Gateway Investment Advisers LLC grew its holdings in Hubbell by 0.5% during the 4th quarter. Gateway Investment Advisers LLC now owns 48,613 shares of the industrial products company’s stock worth $4,829,000 after acquiring an additional 263 shares in the last quarter. Cerebellum GP LLC grew its holdings in Hubbell by 21.7% during the 4th quarter. Cerebellum GP LLC now owns 1,671 shares of the industrial products company’s stock worth $166,000 after acquiring an additional 298 shares in the last quarter. Quantamental Technologies LLC acquired a new position in Hubbell during the 4th quarter worth $30,000. Meeder Asset Management Inc. acquired a new position in Hubbell during the 4th quarter worth $35,000. Finally, Essex Investment Management Co. LLC acquired a new position in Hubbell during the 4th quarter worth $35,000. 86.56% of the stock is currently owned by institutional investors.
HUBB has been the subject of several research reports. Zacks Investment Research raised shares of Hubbell from a “sell” rating to a “hold” rating in a report on Tuesday, January 22nd. ValuEngine raised shares of Hubbell from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Oppenheimer reissued a “market perform” rating on shares of Hubbell in a research note on Tuesday, January 8th. Finally, JMP Securities set a $146.00 target price on shares of Hubbell and gave the company a “buy” rating in a research note on Tuesday, April 2nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $133.29.
Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, February 5th. The industrial products company reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.69 by $0.03. Hubbell had a net margin of 8.04% and a return on equity of 23.08%. The company had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period in the previous year, the firm earned $1.54 EPS. Hubbell’s revenue was up 24.7% on a year-over-year basis. On average, equities research analysts predict that Hubbell Incorporated will post 8.07 earnings per share for the current year.
In related news, VP An-Ping Hsieh sold 6,315 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $122.32, for a total value of $772,450.80. Following the sale, the vice president now directly owns 24,376 shares in the company, valued at approximately $2,981,672.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.20% of the stock is owned by insiders.
Hubbell Company Profile
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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