Swiss National Bank increased its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 2.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,700 shares of the industrial products company’s stock after buying an additional 2,800 shares during the quarter. Swiss National Bank’s holdings in Hubbell were worth $11,763,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. LPL Financial LLC grew its position in Hubbell by 122.7% in the fourth quarter. LPL Financial LLC now owns 5,063 shares of the industrial products company’s stock worth $503,000 after acquiring an additional 2,790 shares in the last quarter. Vanguard Group Inc grew its position in Hubbell by 0.7% in the third quarter. Vanguard Group Inc now owns 5,362,450 shares of the industrial products company’s stock worth $716,262,000 after acquiring an additional 39,278 shares in the last quarter. Calamos Advisors LLC purchased a new position in Hubbell in the first quarter worth $601,000. Gotham Asset Management LLC purchased a new position in Hubbell in the fourth quarter worth $13,572,000. Finally, Two Sigma Securities LLC purchased a new position in Hubbell in the fourth quarter worth $463,000. 85.66% of the stock is currently owned by institutional investors and hedge funds.
Several research analysts recently issued reports on HUBB shares. Zacks Investment Research lowered shares of Hubbell from a “hold” rating to a “sell” rating in a research report on Wednesday, April 17th. JMP Securities set a $146.00 target price on shares of Hubbell and gave the stock a “buy” rating in a research report on Tuesday, April 2nd. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Hubbell currently has a consensus rating of “Hold” and a consensus price target of $131.00.
Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, April 30th. The industrial products company reported $1.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.55 by $0.02. Hubbell had a net margin of 8.17% and a return on equity of 23.09%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same quarter last year, the firm earned $1.39 earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. On average, equities research analysts expect that Hubbell Incorporated will post 8.1 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Friday, May 31st will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Thursday, May 30th. This represents a $3.36 annualized dividend and a dividend yield of 2.73%. Hubbell’s payout ratio is 46.09%.
In related news, insider Kevin Arthur Poyck sold 247 shares of Hubbell stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $122.00, for a total transaction of $30,134.00. Following the completion of the transaction, the insider now directly owns 15,572 shares of the company’s stock, valued at approximately $1,899,784. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP An-Ping Hsieh sold 6,315 shares of Hubbell stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $122.32, for a total transaction of $772,450.80. Following the transaction, the vice president now directly owns 24,376 shares of the company’s stock, valued at $2,981,672.32. The disclosure for this sale can be found here. Insiders have sold a total of 25,492 shares of company stock worth $3,249,919 over the last 90 days. Insiders own 2.20% of the company’s stock.
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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