Hubbell Inc (HUBB) Position Boosted by Cadence Capital Management LLC

Cadence Capital Management LLC increased its position in shares of Hubbell Inc (NYSE:HUBB) by 26.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,113 shares of the industrial products company’s stock after buying an additional 1,882 shares during the period. Cadence Capital Management LLC’s holdings in Hubbell were worth $1,031,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Meeder Asset Management Inc. boosted its stake in shares of Hubbell by 2,397.4% in the second quarter. Meeder Asset Management Inc. now owns 974 shares of the industrial products company’s stock worth $110,000 after buying an additional 935 shares during the period. TLP Group LLC bought a new stake in shares of Hubbell during the first quarter worth approximately $126,000. Flinton Capital Management LLC boosted its stake in shares of Hubbell by 7.1% in the first quarter. Flinton Capital Management LLC now owns 1,696 shares of the industrial products company’s stock worth $204,000 after buying an additional 112 shares during the period. Tocqueville Asset Management L.P. bought a new stake in shares of Hubbell during the first quarter worth approximately $204,000. Finally, Global X Management Co. LLC boosted its stake in shares of Hubbell by 220.0% in the second quarter. Global X Management Co. LLC now owns 1,760 shares of the industrial products company’s stock worth $199,000 after buying an additional 1,210 shares during the period. 86.35% of the stock is owned by institutional investors.

Shares of Hubbell Inc (HUBB) opened at 110.47 on Friday. The company has a market capitalization of $6.04 billion, a PE ratio of 20.96 and a beta of 1.01. Hubbell Inc has a 1-year low of $101.15 and a 1-year high of $125.93. The company’s 50-day moving average price is $115.66 and its 200-day moving average price is $117.03.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, July 25th. The industrial products company reported $1.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.40 by $0.11. Hubbell had a return on equity of 19.77% and a net margin of 8.23%. The company had revenue of $948.30 million during the quarter, compared to analyst estimates of $937.35 million. During the same quarter last year, the company earned $1.53 EPS. The firm’s revenue for the quarter was up 4.3% on a year-over-year basis. On average, equities analysts expect that Hubbell Inc will post $5.51 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be given a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Tuesday, August 29th. Hubbell’s dividend payout ratio (DPR) is presently 53.03%.

A number of analysts have recently commented on the company. Wolfe Research assumed coverage on Hubbell in a research note on Tuesday, July 11th. They issued a “market perform” rating for the company. Zacks Investment Research cut Hubbell from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, JMP Securities assumed coverage on Hubbell in a research note on Monday, June 19th. They set a “market perform” rating for the company. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently 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.