LPL Financial LLC boosted its position in Hubbell Incorporated (NYSE:HUBB – Free Report) by 11.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,510 shares of the industrial products company’s stock after acquiring an additional 2,227 shares during the period. LPL Financial LLC’s holdings in Hubbell were worth $7,463,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in Hubbell by 1.7% in the first quarter. BlackRock Inc. now owns 5,457,568 shares of the industrial products company’s stock valued at $1,327,881,000 after acquiring an additional 89,491 shares during the last quarter. Vanguard Group Inc. boosted its holdings 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 worth $1,002,421,000 after buying an additional 23,865 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Hubbell by 42.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,028,010 shares of the industrial products company’s stock worth $1,223,367,000 after buying an additional 1,509,684 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Hubbell by 5.8% during the first quarter. JPMorgan Chase & Co. now owns 2,731,202 shares of the industrial products company’s stock worth $664,529,000 after buying an additional 148,953 shares during the last quarter. Finally, FMR LLC boosted its holdings in Hubbell by 2.6% during the first quarter. FMR LLC now owns 2,007,156 shares of the industrial products company’s stock worth $488,361,000 after buying an additional 50,956 shares during the last quarter. Institutional investors own 85.97% of the company’s stock.
Hubbell Trading Down 4.7 %
NYSE:HUBB opened at $270.10 on Wednesday. Hubbell Incorporated has a twelve month low of $219.77 and a twelve month high of $340.06. The company has a quick ratio of 1.32, a current ratio of 2.06 and a debt-to-equity ratio of 0.55. The business has a 50 day moving average price of $308.06 and a two-hundred day moving average price of $302.26. The company has a market cap of $14.49 billion, a P/E ratio of 22.45, a price-to-earnings-growth ratio of 1.83 and a beta of 0.99.
Hubbell Increases Dividend
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the company. Wolfe Research upgraded Hubbell from an “underperform” rating to a “peer perform” rating in a report on Friday, August 11th. Mizuho lifted their price objective on Hubbell from $300.00 to $370.00 in a report on Wednesday, July 26th. Wells Fargo & Company boosted their price objective on Hubbell from $287.00 to $318.00 in a research report on Monday, July 10th. Finally, StockNews.com started coverage on Hubbell in a research report on Thursday, October 5th. They issued a “buy” rating for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Hubbell currently has an average rating of “Hold” and an average price target of $265.17.
Check Out Our Latest Analysis on Hubbell
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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