BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Purchases 82 Shares of Hubbell Incorporated (NYSE:HUBB)

by · The Cerbat Gem

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in Hubbell Incorporated (NYSE:HUBB – Free Report) by 1.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,850 shares of the industrial products company’s stock after acquiring an additional 82 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Hubbell were worth $1,608,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of HUBB. Panagora Asset Management Inc. grew its position in shares of Hubbell by 87.6% during the 1st quarter. Panagora Asset Management Inc. now owns 5,426 shares of the industrial products company’s stock valued at $997,000 after acquiring an additional 2,533 shares during the period. Great West Life Assurance Co. Can grew its holdings in Hubbell by 9.4% during the first quarter. Great West Life Assurance Co. Can now owns 31,791 shares of the industrial products company’s stock valued at $6,006,000 after purchasing an additional 2,736 shares during the period. Blair William & Co. IL increased its position in Hubbell by 0.5% in the first quarter. Blair William & Co. IL now owns 22,986 shares of the industrial products company’s stock worth $4,224,000 after buying an additional 120 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Hubbell by 0.4% in the first quarter. Vanguard Group Inc. now owns 5,454,758 shares of the industrial products company’s stock valued at $1,002,421,000 after buying an additional 23,865 shares during the period. Finally, Covestor Ltd lifted its position in shares of Hubbell by 137.3% during the 1st quarter. Covestor Ltd now owns 522 shares of the industrial products company’s stock valued at $96,000 after buying an additional 302 shares during the last quarter. Institutional investors own 85.97% of the company’s stock.

Hubbell Stock Down 1.2 %

HUBB opened at $299.82 on Wednesday. The firm has a market capitalization of $16.08 billion, a P/E ratio of 22.78, a price-to-earnings-growth ratio of 2.00 and a beta of 0.93. Hubbell Incorporated has a one year low of $219.77 and a one year high of $340.06. The company has a fifty day moving average price of $294.84 and a 200-day moving average price of $307.63. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.16 and a quick ratio of 1.43.

Hubbell (NYSE:HUBB – Get Free Report) last posted its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $3.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.07 by ($0.12). The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.40 billion. Hubbell had a net margin of 13.56% and a return on equity of 30.09%. Hubbell’s quarterly revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $3.08 EPS. Equities research analysts expect that Hubbell Incorporated will post 15.19 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a $1.22 dividend. This is an increase from Hubbell’s previous quarterly dividend of $1.12. This represents a $4.88 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend is Wednesday, November 29th. Hubbell’s dividend payout ratio (DPR) is currently 37.08%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Wolfe Research raised Hubbell from an “underperform” rating to a “peer perform” rating in a report on Friday, August 11th. Stephens reissued an “overweight” rating and issued a $375.00 price target on shares of Hubbell in a research report on Wednesday, November 1st. JPMorgan Chase & Co. raised shares of Hubbell from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $333.00 to $335.00 in a report on Friday, November 17th. StockNews.com cut shares of Hubbell from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Barclays initiated coverage on Hubbell in a report on Monday. They issued an “equal weight” rating and a $325.00 price target for the company. One analyst has rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $312.29.

Get Our Latest Stock Analysis on HUBB

Insider Buying and Selling at Hubbell

In other news, VP Nero Jonathan M. Del sold 1,902 shares of the stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $285.54, for a total value of $543,097.08. Following the transaction, the vice president now owns 3,646 shares of the company’s stock, valued at approximately $1,041,078.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.66% of the stock is currently owned by company insiders.

About Hubbell

(Free Report)

Hubbell Incorporated, together with its subsidiaries, designs, manufactures, and sells electrical and utility solutions in the United States and internationally. It operates through two segments, Electrical Solutions and Utility Solutions. The Electrical Solution segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures, and other electrical equipment for use in industrial, commercial, and institutional facilities by electrical contractors, maintenance personnel, electricians, utilities, and telecommunications companies, as well as components and assemblies.

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