New York State Common Retirement Fund Has $32.04 Million Holdings in Hubbell Incorporated (NYSE:HUBB)

New York State Common Retirement Fund grew its holdings in Hubbell Incorporated (NYSE:HUBBFree Report) by 45.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 102,229 shares of the industrial products company’s stock after purchasing an additional 32,157 shares during the period. New York State Common Retirement Fund owned about 0.19% of Hubbell worth $32,040,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Fifth Third Bancorp raised its holdings in shares of Hubbell by 0.4% in the second quarter. Fifth Third Bancorp now owns 8,664 shares of the industrial products company’s stock valued at $2,873,000 after purchasing an additional 34 shares during the last quarter. Simplicity Solutions LLC raised its holdings in shares of Hubbell by 0.6% in the second quarter. Simplicity Solutions LLC now owns 5,887 shares of the industrial products company’s stock valued at $1,952,000 after purchasing an additional 36 shares during the last quarter. North Star Asset Management Inc. raised its holdings in shares of Hubbell by 1.5% in the third quarter. North Star Asset Management Inc. now owns 2,381 shares of the industrial products company’s stock valued at $746,000 after purchasing an additional 36 shares during the last quarter. Tevis Investment Management raised its holdings in shares of Hubbell by 4.0% in the third quarter. Tevis Investment Management now owns 960 shares of the industrial products company’s stock valued at $301,000 after purchasing an additional 37 shares during the last quarter. Finally, Coldstream Capital Management Inc. raised its holdings in shares of Hubbell by 1.2% in the second quarter. Coldstream Capital Management Inc. now owns 3,427 shares of the industrial products company’s stock valued at $1,136,000 after purchasing an additional 39 shares during the last quarter. 85.97% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Hubbell news, Director John F. Malloy purchased 797 shares of the stock in a transaction that occurred on Monday, December 11th. The shares were acquired at an average cost of $313.50 per share, with a total value of $249,859.50. Following the completion of the transaction, the director now owns 17,923 shares in the company, valued at $5,618,860.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.66% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on HUBB shares. Barclays lifted their price objective on shares of Hubbell from $330.00 to $340.00 and gave the company an “equal weight” rating in a report on Wednesday. StockNews.com downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a report on Friday. Seaport Res Ptn restated a “buy” rating on shares of Hubbell in a report on Wednesday, November 8th. Wells Fargo & Company boosted their target price on shares of Hubbell from $351.00 to $360.00 and gave the stock an “equal weight” rating in a report on Wednesday. Finally, TD Cowen assumed coverage on shares of Hubbell in a report on Friday, December 8th. They set an “outperform” rating and a $338.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $353.00.

Check Out Our Latest Report on HUBB

Hubbell Price Performance

NYSE:HUBB opened at $354.07 on Friday. Hubbell Incorporated has a one year low of $219.77 and a one year high of $356.06. The company has a market cap of $18.99 billion, a P/E ratio of 25.20, a P/E/G ratio of 2.10 and a beta of 0.92. The firm’s fifty day moving average price is $322.29 and its two-hundred day moving average price is $311.77. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.64 and a quick ratio of 1.43.

Hubbell (NYSE:HUBBGet Free Report) last released its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $3.69 EPS for the quarter, beating the consensus estimate of $3.58 by $0.11. Hubbell had a net margin of 14.14% and a return on equity of 30.82%. The firm had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the company earned $2.60 earnings per share. The company’s quarterly revenue was up 10.3% on a year-over-year basis. Equities analysts expect that Hubbell Incorporated will post 16.4 earnings per share for the current year.

Hubbell Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Stockholders of record on Thursday, February 29th will be given a $1.22 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.38%. Hubbell’s payout ratio is presently 34.73%.

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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Institutional Ownership by Quarter for Hubbell (NYSE:HUBB)

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