Westpac Banking Corp boosted its position in shares of Hubbell Incorporated (NYSE:HUBB – Free Report) by 13.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,073 shares of the industrial products company’s stock after buying an additional 491 shares during the period. Westpac Banking Corp’s holdings in Hubbell were worth $991,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Hubbell by 0.4% during the first quarter. Vanguard Group Inc. now owns 5,454,758 shares of the industrial products company’s stock valued at $1,002,421,000 after purchasing an additional 23,865 shares during the period. JPMorgan Chase & Co. raised its position in Hubbell by 13.2% during the fourth quarter. JPMorgan Chase & Co. now owns 2,582,249 shares of the industrial products company’s stock valued at $606,003,000 after purchasing an additional 301,775 shares during the period. Wellington Management Group LLP raised its position in Hubbell by 133.8% during the first quarter. Wellington Management Group LLP now owns 1,543,481 shares of the industrial products company’s stock valued at $283,646,000 after purchasing an additional 883,272 shares during the period. State Street Corp raised its position in Hubbell by 4.1% during the first quarter. State Street Corp now owns 1,491,325 shares of the industrial products company’s stock valued at $274,061,000 after purchasing an additional 59,128 shares during the period. Finally, Geode Capital Management LLC raised its position in Hubbell by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 852,849 shares of the industrial products company’s stock valued at $199,938,000 after purchasing an additional 24,273 shares during the period. 89.67% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, Director Carlos M. Cardoso sold 560 shares of the stock in a transaction that occurred on Friday, May 5th. The stock was sold at an average price of $273.16, for a total value of $152,969.60. Following the transaction, the director now owns 1,711 shares of the company’s stock, valued at $467,376.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.66% of the stock is owned by insiders.
Analysts Set New Price Targets
View Our Latest Research Report on HUBB
Hubbell Trading Down 0.8 %
Shares of NYSE HUBB opened at $313.19 on Thursday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.32 and a current ratio of 2.06. The business’s 50 day moving average price is $316.83 and its 200-day moving average price is $270.85. Hubbell Incorporated has a fifty-two week low of $204.01 and a fifty-two week high of $340.06. The company has a market cap of $16.78 billion, a price-to-earnings ratio of 26.03, a PEG ratio of 2.05 and a beta of 0.99.
Hubbell (NYSE:HUBB – Get Free Report) last issued its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $4.07 earnings per share for the quarter, topping the consensus estimate of $3.63 by $0.44. Hubbell had a return on equity of 29.48% and a net margin of 12.55%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the prior year, the business posted $2.81 earnings per share. The company’s revenue for the quarter was up 8.8% on a year-over-year basis. On average, sell-side analysts expect that Hubbell Incorporated will post 15.22 earnings per share for the current year.
Hubbell Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be paid a $1.12 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $4.48 annualized dividend and a yield of 1.43%. Hubbell’s dividend payout ratio (DPR) is currently 37.24%.
Hubbell Company Profile
Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and utility solutions in the United States and internationally. It operates through two segments, Electrical Solutions and Utility Solutions. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures, 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.
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