Citigroup Inc. increased its position in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 40.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 70,157 shares of the industrial products company's stock after purchasing an additional 20,369 shares during the quarter. Citigroup Inc. owned 0.13% of Hubbell worth $23,216,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Tsfg LLC acquired a new position in Hubbell during the first quarter worth $30,000. Johnson Financial Group Inc. lifted its stake in shares of Hubbell by 166.7% in the 4th quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock valued at $44,000 after purchasing an additional 65 shares during the last quarter. CX Institutional acquired a new position in shares of Hubbell in the 1st quarter valued at $49,000. NBC Securities Inc. acquired a new position in shares of Hubbell in the 1st quarter valued at $49,000. Finally, Intact Investment Management Inc. acquired a new position in shares of Hubbell in the 1st quarter valued at $66,000. Institutional investors and hedge funds own 88.16% of the company's stock.
Hubbell Price Performance
NYSE HUBB traded down $5.83 on Thursday, reaching $438.12. 473,414 shares of the stock traded hands, compared to its average volume of 614,057. The firm's fifty day simple moving average is $415.49 and its 200 day simple moving average is $382.70. The company has a quick ratio of 0.76, a current ratio of 1.30 and a debt-to-equity ratio of 0.30. The company has a market cap of $23.28 billion, a price-to-earnings ratio of 28.45, a P/E/G ratio of 2.48 and a beta of 0.99. Hubbell Inc has a 12 month low of $299.42 and a 12 month high of $481.35.
Hubbell (NYSE:HUBB - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $4.93 EPS for the quarter, beating analysts' consensus estimates of $4.36 by $0.57. Hubbell had a return on equity of 27.63% and a net margin of 14.76%. The company had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.51 billion. As a group, research analysts predict that Hubbell Inc will post 17.63 EPS for the current fiscal year.
Hubbell Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be paid a $1.32 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $5.28 dividend on an annualized basis and a dividend yield of 1.2%. Hubbell's dividend payout ratio is 34.29%.
Insider Buying and Selling at Hubbell
In other Hubbell news, Director Carlos M. Cardoso sold 400 shares of the stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $386.29, for a total transaction of $154,516.00. Following the transaction, the director directly owned 1,727 shares of the company's stock, valued at $667,122.83. This represents a 18.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.66% of the company's stock.
Wall Street Analysts Forecast Growth
HUBB has been the subject of several research reports. JPMorgan Chase & Co. lifted their price objective on Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Barclays boosted their price target on Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a report on Friday, August 1st. Wall Street Zen raised Hubbell from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, Wells Fargo & Company boosted their price target on Hubbell from $420.00 to $445.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Five analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $462.29.
Check Out Our Latest Report on Hubbell
Hubbell Profile
(
Free Report)
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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