Cubist Systematic Strategies LLC lowered its stake in shares of Hubbell Incorporated (NYSE:HUBB) by 64.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,106 shares of the industrial products company’s stock after selling 7,591 shares during the period. Cubist Systematic Strategies LLC’s holdings in Hubbell were worth $500,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in HUBB. DekaBank Deutsche Girozentrale acquired a new position in Hubbell during the first quarter worth about $111,000. Granite Springs Asset Management LLC acquired a new position in Hubbell during the fourth quarter worth about $202,000. Rodgers Brothers Inc. acquired a new position in Hubbell during the fourth quarter worth about $217,000. Oppenheimer & Co. Inc. acquired a new position in Hubbell during the first quarter worth about $223,000. Finally, Haverford Trust Co. acquired a new position in Hubbell during the first quarter worth about $224,000. 85.74% of the stock is owned by institutional investors and hedge funds.
Hubbell opened at $105.74 on Friday, MarketBeat reports. The company has a current ratio of 1.92, a quick ratio of 1.12 and a debt-to-equity ratio of 1.13. The stock has a market capitalization of $5.86 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 1.50 and a beta of 1.05. Hubbell Incorporated has a 1-year low of $100.55 and a 1-year high of $149.03.
Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, April 24th. The industrial products company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.36 by $0.03. The company had revenue of $991.20 million for the quarter, compared to analyst estimates of $975.95 million. Hubbell had a net margin of 6.27% and a return on equity of 20.40%. Hubbell’s revenue was up 16.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.23 EPS. equities analysts expect that Hubbell Incorporated will post 7.09 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 15th. Shareholders of record on Thursday, May 31st were issued a $0.77 dividend. The ex-dividend date of this dividend was Wednesday, May 30th. This represents a $3.08 annualized dividend and a yield of 2.91%. Hubbell’s payout ratio is 51.94%.
In related news, Director Neal J. Keating acquired 1,000 shares of the firm’s stock in a transaction dated Thursday, May 17th. The shares were purchased at an average cost of $105.96 per share, for a total transaction of $105,960.00. Following the acquisition, the director now owns 6,571 shares in the company, valued at approximately $696,263.16. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Rodd Richard Ruland acquired 2,000 shares of the firm’s stock in a transaction dated Friday, April 27th. The stock was bought at an average price of $105.19 per share, for a total transaction of $210,380.00. The disclosure for this purchase can be found here. Insiders own 0.69% of the company’s stock.
HUBB has been the topic of a number of recent research reports. Morgan Stanley lowered their price target on shares of Hubbell from $153.00 to $145.00 and set an “overweight” rating on the stock in a research report on Monday, March 12th. Zacks Investment Research lowered shares of Hubbell from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 4th. Wells Fargo & Co lowered their price target on shares of Hubbell from $156.00 to $135.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 25th. Oppenheimer lowered their price target on shares of Hubbell from $160.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 25th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Hubbell from $152.00 to $138.00 and set an “overweight” rating on the stock in a research report on Thursday, April 26th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $137.83.
Hubbell Incorporated designs, manufactures, and sells electrical and electronic products in the United States and internationally. It operates through two segments, Electrical and Power. The Electrical segment offers standard and special application wiring device products, rough-in electrical products, connector and grounding products, lighting fixtures and controls, 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 for the natural gas distribution market.
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