Ameritas Investment Partners Inc. raised its stake in shares of Hubbell Inc (NYSE:HUBB) by 88.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,508 shares of the company’s stock after buying an additional 7,285 shares during the period. Ameritas Investment Partners Inc.’s holdings in Hubbell were worth $1,671,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in the stock. Bank of Montreal Can raised its stake in Hubbell by 2.9% in the third quarter. Bank of Montreal Can now owns 1,930 shares of the company’s stock valued at $207,000 after buying an additional 54 shares during the last quarter. Huntington National Bank purchased a new stake in Hubbell during the second quarter valued at $263,000. Johnson Investment Counsel Inc. purchased a new stake in Hubbell during the third quarter valued at $276,000. MSI Financial Services Inc raised its stake in Hubbell by 50.3% in the third quarter. MSI Financial Services Inc now owns 2,572 shares of the company’s stock valued at $277,000 after buying an additional 861 shares during the last quarter. Finally, TD Asset Management Inc. purchased a new stake in Hubbell during the third quarter valued at $302,000. 82.62% of the stock is currently owned by hedge funds and other institutional investors.
Hubbell Inc (NYSE:HUBB) traded down 0.02% on Friday, reaching $122.85. 208,169 shares of the company’s stock were exchanged. Hubbell Inc has a 52 week low of $90.54 and a 52 week high of $125.93. The stock’s 50 day moving average is $119.44 and its 200 day moving average is $110.66. The company has a market cap of $6.79 billion, a price-to-earnings ratio of 23.44 and a beta of 0.95.
Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, January 31st. The company reported $1.35 EPS for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.12. Hubbell had a return on equity of 19.82% and a net margin of 8.36%. The company had revenue of $854 million for the quarter, compared to analysts’ expectations of $856.45 million. During the same quarter last year, the business earned $1.31 earnings per share. Hubbell’s revenue was up 3.0% on a year-over-year basis. On average, equities analysts anticipate that Hubbell Inc will post $5.71 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th will be given a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date is Friday, February 24th. Hubbell’s payout ratio is currently 53.33%.
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Several brokerages recently issued reports on HUBB. Barclays PLC upped their price target on shares of Hubbell from $105.00 to $112.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 1st. Zacks Investment Research upgraded shares of Hubbell from a “sell” rating to a “hold” rating and set a $137.00 price target on the stock in a research report on Thursday, February 2nd. Finally, Morgan Stanley upgraded shares of Hubbell from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $113.00 to $131.00 in a research report on Monday, December 19th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $119.00.
In other Hubbell news, VP Stephen M. Mais sold 3,269 shares of Hubbell stock in a transaction dated Friday, February 3rd. The stock was sold at an average price of $122.76, for a total value of $401,302.44. Following the transaction, the vice president now owns 16,021 shares in the company, valued at $1,966,737.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider William R. Sperry sold 2,513 shares of Hubbell stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $122.61, for a total value of $308,118.93. Following the completion of the transaction, the insider now owns 43,987 shares in the company, valued at approximately $5,393,246.07. The disclosure for this sale can be found here. 1.25% of the stock is currently owned by company insiders.
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 operates through two segments: Electrical and Power. The Electrical segment consists of electrical systems products and lighting products.
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