BB&T Corp lessened its position in shares of Hubbell Inc (NYSE:HUBB) by 7.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,472 shares of the industrial products company’s stock after selling 1,165 shares during the period. BB&T Corp’s holdings in Hubbell were worth $1,796,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Meeder Asset Management Inc. boosted its holdings in shares of Hubbell by 2,397.4% during the second quarter. Meeder Asset Management Inc. now owns 974 shares of the industrial products company’s stock worth $110,000 after acquiring an additional 935 shares during the period. Acrospire Investment Management LLC boosted its holdings in shares of Hubbell by 103.1% during the second quarter. Acrospire Investment Management LLC now owns 985 shares of the industrial products company’s stock worth $111,000 after acquiring an additional 500 shares during the period. Cubist Systematic Strategies LLC bought a new stake in shares of Hubbell during the second quarter worth approximately $182,000. Global X Management Co. LLC boosted its holdings in shares of Hubbell by 220.0% during the second quarter. Global X Management Co. LLC now owns 1,760 shares of the industrial products company’s stock worth $199,000 after acquiring an additional 1,210 shares during the period. Finally, YorkBridge Wealth Partners LLC bought a new stake in shares of Hubbell during the second quarter worth approximately $225,000. Institutional investors own 84.05% of the company’s stock.
Shares of Hubbell Inc (HUBB) traded down $0.84 on Tuesday, reaching $121.76. 294,600 shares of the company’s stock traded hands, compared to its average volume of 285,527. Hubbell Inc has a 1-year low of $109.32 and a 1-year high of $127.34. The firm has a market capitalization of $6,706.22, a P/E ratio of 21.36, a P/E/G ratio of 2.25 and a beta of 1.10. The company has a current ratio of 2.28, a quick ratio of 1.43 and a debt-to-equity ratio of 0.59.
Hubbell (NYSE:HUBB) last announced its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $1.65 EPS for the quarter, beating the consensus estimate of $1.50 by $0.15. Hubbell had a net margin of 7.96% and a return on equity of 19.69%. The business had revenue of $950.50 million during the quarter, compared to the consensus estimate of $960.28 million. During the same period in the previous year, the business earned $1.63 earnings per share. The company’s revenue was up 4.7% on a year-over-year basis. equities analysts expect that Hubbell Inc will post 5.44 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be given a dividend of $0.77 per share. This is an increase from Hubbell’s previous quarterly dividend of $0.70. This represents a $3.08 annualized dividend and a yield of 2.53%. The ex-dividend date is Wednesday, November 29th. Hubbell’s payout ratio is currently 53.95%.
Hubbell declared that its Board of Directors has initiated a stock repurchase program on Friday, October 20th that authorizes the company to buyback $400.00 million in shares. This buyback authorization authorizes the industrial products company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
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In other Hubbell news, insider Gerben Bakker sold 590 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $125.34, for a total transaction of $73,950.60. Following the completion of the transaction, the insider now directly owns 13,249 shares in the company, valued at $1,660,629.66. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.28% of the stock is owned by insiders.
HUBB has been the subject of several recent research reports. BidaskClub upgraded Hubbell from a “strong sell” rating to a “sell” rating in a research note on Friday, September 1st. Zacks Investment Research upgraded Hubbell from a “sell” rating to a “hold” rating in a research note on Thursday, July 27th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $132.00 price target (up from $130.00) on shares of Hubbell in a research note on Monday, October 2nd. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $124.00.
Hubbell Incorporated is engaged in the design, manufacture and sale of electrical and electronic products for a range of non-residential and residential construction, industrial and utility applications. The Company’s segments include Electrical and the Power. The Electrical segment consists of businesses that sell stock and custom products, including standard and special application wiring device products, rough-in electrical products, lighting fixtures and controls, components and assemblies for the natural gas distribution market, as well as other electrical equipment.
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