Dimensional Fund Advisors LP grew its holdings in Hubbell Inc (NYSE:HUBB) by 1.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 354,230 shares of the industrial products company’s stock after purchasing an additional 4,499 shares during the period. Dimensional Fund Advisors LP owned approximately 0.65% of Hubbell worth $41,097,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in the company. Acrospire Investment Management LLC lifted its stake in Hubbell by 103.1% during the 2nd 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 in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Hubbell during the 2nd quarter worth about $182,000. Advisors Asset Management Inc. increased its holdings in Hubbell by 1,122.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,613 shares of the industrial products company’s stock worth $187,000 after purchasing an additional 1,481 shares during the period. YorkBridge Wealth Partners LLC purchased a new stake in Hubbell during the 2nd quarter worth about $225,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Hubbell by 8.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,071 shares of the industrial products company’s stock worth $234,000 after purchasing an additional 163 shares during the period. 85.16% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Gerben Bakker sold 590 shares of Hubbell stock in a transaction on Monday, October 30th. The stock was sold at an average price of $125.34, for a total value of $73,950.60. Following the completion of the sale, the insider now owns 13,249 shares of the company’s stock, valued at $1,660,629.66. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.28% of the stock is owned by insiders.
A number of research analysts have recently commented on HUBB shares. Zacks Investment Research downgraded Hubbell from a “buy” rating to a “hold” rating in a report on Friday, January 12th. Morgan Stanley restated an “overweight” rating and set a $132.00 price target (up previously from $130.00) on shares of Hubbell in a research note on Monday, October 2nd. BidaskClub upgraded Hubbell from a “sell” rating to a “hold” rating in a research note on Wednesday, September 27th. JPMorgan Chase & Co. restated a “hold” rating on shares of Hubbell in a research note on Thursday, December 28th. Finally, Oppenheimer raised Hubbell from a “market perform” rating to an “outperform” rating and set a $160.00 price objective for the company in a research report on Friday, January 12th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Hubbell has a consensus rating of “Buy” and a consensus price target of $139.80.
Hubbell Inc (NYSE:HUBB) opened at $136.20 on Thursday. The stock has a market capitalization of $7,458.35, a price-to-earnings ratio of 26.24, a P/E/G ratio of 2.20 and a beta of 1.09. Hubbell Inc has a 1-year low of $109.32 and a 1-year high of $141.67. 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 issued its quarterly earnings data on Tuesday, October 24th. The industrial products company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.15. The firm had revenue of $950.50 million during the quarter, compared to analysts’ expectations of $960.28 million. Hubbell had a return on equity of 19.69% and a net margin of 7.96%. Hubbell’s revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.63 earnings per share. analysts predict that Hubbell Inc will post 5.45 EPS for the current year.
Hubbell declared that its Board of Directors has authorized a share buyback plan on Friday, October 20th that permits the company to repurchase $400.00 million in outstanding shares. This repurchase authorization permits the industrial products company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
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Hubbell Company Profile
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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