Teacher Retirement System of Texas cut its position in shares of Hubbell Inc (NYSE:HUBB) by 86.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,227 shares of the industrial products company’s stock after selling 27,307 shares during the period. Teacher Retirement System of Texas’ holdings in Hubbell were worth $478,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Baystate Wealth Management LLC raised its stake in Hubbell by 60.3% in the first quarter. Baystate Wealth Management LLC now owns 1,087 shares of the industrial products company’s stock valued at $128,000 after buying an additional 409 shares during the period. First Quadrant L P CA raised its stake in Hubbell by 80.5% in the first quarter. First Quadrant L P CA now owns 165,582 shares of the industrial products company’s stock valued at $19,878,000 after buying an additional 73,863 shares during the period. Glen Harbor Capital Management LLC raised its stake in Hubbell by 7.1% in the first quarter. Glen Harbor Capital Management LLC now owns 2,968 shares of the industrial products company’s stock valued at $356,000 after buying an additional 196 shares during the period. Sit Investment Associates Inc. raised its stake in Hubbell by 336.7% in the first quarter. Sit Investment Associates Inc. now owns 99,825 shares of the industrial products company’s stock valued at $11,984,000 after buying an additional 76,968 shares during the period. Finally, Acadian Asset Management LLC raised its stake in Hubbell by 29,516.7% in the first quarter. Acadian Asset Management LLC now owns 10,662 shares of the industrial products company’s stock valued at $1,280,000 after buying an additional 10,626 shares during the period. 86.35% of the stock is currently owned by institutional investors and hedge funds.
Shares of Hubbell Inc (HUBB) opened at 111.65 on Monday. The firm has a market capitalization of $6.11 billion, a price-to-earnings ratio of 21.18 and a beta of 1.01. The company’s 50-day moving average price is $116.17 and its 200 day moving average price is $117.49. Hubbell Inc has a 12-month low of $101.15 and a 12-month high of $125.93.
Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, July 25th. The industrial products company reported $1.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.40 by $0.11. The firm had revenue of $948.30 million for the quarter, compared to analysts’ expectations of $937.35 million. Hubbell had a return on equity of 19.77% and a net margin of 8.23%. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.53 EPS. On average, equities research analysts forecast that Hubbell Inc will post $5.51 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be given a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend is Tuesday, August 29th. Hubbell’s dividend payout ratio (DPR) is presently 53.03%.
Several research firms recently commented on HUBB. Wolfe Research began coverage on Hubbell in a report on Tuesday, July 11th. They set a “market perform” rating on the stock. Zacks Investment Research raised Hubbell from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. Finally, JMP Securities began coverage on Hubbell in a report on Monday, June 19th. They set a “market perform” rating on the stock. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $126.67.
About Hubbell
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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