Cramer Rosenthal Mcglynn LLC decreased its position in shares of Hubbell Incorporated (NYSE:HUBB) by 6.9% during the 4th quarter, HoldingsChannel reports. The fund owned 429,851 shares of the industrial products company’s stock after selling 31,941 shares during the period. Cramer Rosenthal Mcglynn LLC’s holdings in Hubbell were worth $58,176,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Quantbot Technologies LP lifted its stake in Hubbell by 33.3% in the 3rd quarter. Quantbot Technologies LP now owns 6,699 shares of the industrial products company’s stock valued at $777,000 after buying an additional 1,675 shares in the last quarter. FTB Advisors Inc. purchased a new stake in Hubbell in the 4th quarter valued at approximately $292,000. Ameriprise Financial Inc. lifted its stake in Hubbell by 6.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 211,211 shares of the industrial products company’s stock valued at $24,506,000 after buying an additional 12,019 shares in the last quarter. BTIM Corp. lifted its stake in Hubbell by 0.8% in the 4th quarter. BTIM Corp. now owns 503,745 shares of the industrial products company’s stock valued at $68,177,000 after buying an additional 4,056 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in Hubbell by 0.3% in the 4th quarter. American Century Companies Inc. now owns 1,776,319 shares of the industrial products company’s stock valued at $240,407,000 after acquiring an additional 5,685 shares during the last quarter. 85.96% of the stock is currently owned by hedge funds and other institutional investors.
Several research analysts have weighed in on HUBB shares. JPMorgan Chase & Co. reiterated a “hold” rating on shares of Hubbell in a report on Thursday, December 28th. Zacks Investment Research upgraded Hubbell from a “hold” rating to a “buy” rating and set a $149.00 price target for the company in a report on Thursday, January 4th. Wells Fargo & Co reiterated a “buy” rating and issued a $143.00 price target (up from $136.00) on shares of Hubbell in a report on Wednesday, December 20th. Oppenheimer upgraded Hubbell from a “market perform” rating to an “outperform” rating and set a $160.00 price target for the company in a report on Friday, January 12th. Finally, Morgan Stanley boosted their price target on Hubbell from $134.00 to $153.00 and gave the company an “overweight” rating in a report on Thursday, February 1st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Hubbell currently has an average rating of “Buy” and a consensus price target of $153.60.
Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, January 30th. The industrial products company reported $1.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $0.12. The company had revenue of $917.70 million during the quarter, compared to the consensus estimate of $901.23 million. Hubbell had a return on equity of 20.16% and a net margin of 6.63%. Hubbell’s revenue was up 7.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.35 EPS. equities research analysts anticipate that Hubbell Incorporated will post 7.18 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Wednesday, February 28th will be issued a dividend of $0.77 per share. The ex-dividend date is Tuesday, February 27th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 2.44%. Hubbell’s payout ratio is 70.00%.
In other news, Chairman David G. Nord sold 12,076 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $133.76, for a total transaction of $1,615,285.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Stephen M. Mais sold 4,692 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $135.59, for a total value of $636,188.28. Following the sale, the vice president now owns 16,669 shares of the company’s stock, valued at $2,260,149.71. The disclosure for this sale can be found here. Corporate insiders own 1.28% of the company’s stock.
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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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