On May 26, 2023, Mitsubishi UFJ Trust & Banking Corp announced that they have raised their stake in shares of Hubbell Incorporated (NYSE:HUBB) by a whopping 2,730.3% during the fourth quarter of 2022. In its most recent Form 13F filing with the Securities & Exchange Commission, it was stated that the fund owned 33,341 shares of the industrial products company’s stock after purchasing an additional 32,163 shares during the period. As of its most recent SEC filing, Mitsubishi UFJ Trust & Banking Corp owned 0.06% of Hubbell worth $7,824,000.
Despite these impressive figures to many investors and analysts alike, the company had recently declared a quarterly dividend to be paid on June 15th of this year. Those who were listed as investors of record on Wednesday May 31st would receive a dividend of $1.12 per share while the ex-dividend date is Tuesday May 30th. The said dividend represented a $4.48 annualized dividend and a dividend yield of 1.56%, giving their stakeholders more confidence in their investment while continuously improving shareholder value.
Various analysts have weighed in on HUBB’s shares with differing opinions regarding its stock performance as well as insights into buying or selling them from existing investors and those interested in investing in the future. Some have given positive reports regarding HUBB’s future prospects but market analysis websites state that two equity research firms have rated HUBB’s stock status as “sell” while three others labeled it as “hold” while only two rated it as “buy”. Despite this difference opinion about HUBB stocks among financial analysts it has still managed to maintain an average consensus rating of “hold”, according to Bloomberg.com data.
All things considered for shareholders and independent investors alike one must consider all information before making any investment decisions about HUBB stocks either to purchase them, hold onto them or sell their existing shares. While some may see this as an exciting opportunity for growth and a profit it is important to understand that there are always risks associated with investing in stocks of any kind and HUBB’s stocks are no exception.
Institutional Investors Show Increasing Confidence in Hubbell Corporation’s Electrical and Electronic Products
Hubbell Incorporated, a market leader in the production of electrical and electronic products, has seen changes in its institutional investors’ holdings worth noting. Convergence Investment Partners LLC boosted its holdings in shares of Hubbell by 6.0%. Following suit, Quent Capital LLC increased its holding by 22.1% and Allspring Global Investments Holdings LLC added an additional 0.9% to their portfolio. Commerce Bank invested further as well, raising its stake by 1.3%, while Citizens Financial Group Inc RI boosted its holding by 0.5% during the fourth quarter. In total, institutional investors own 89.71% of the company’s stock.
Hubbell Corporation’s quarterly earnings data shows a reported EPS of $3.61 for Q1 2023, surpassing analysts’ consensus estimates of $2.46 by $1.15 per share and returning high net margins of 11.15%. The latest market capitalization stands at $15.36 billion with an excellent PEG ratio of 1.99 and a beta rating of 0.99.
Director Carlos M Cardoso recently sold his holdings totaling 560 shares at an average price of $273.16 per share – amounting to a grand total of $152,969 – with a remaining holding value totalling approximately $467,376 in the company.
Hubbell also recently announced a quarterly dividend record date that investors should be aware of; announced to be paid on Thursday, June 15th with an ex-dividend date scheduled for Tuesday, May 30th – providing shareholders with a dividend payout ratio (DPR) that currently stands at approximately 42.79%.
As it stands today, Hubbell has demonstrated strength and capability within this field, boasting impressive growth potential set to continue throughout the year based on current investor confidence levels moving forward into H2/2023 against steady increases through Q1/2023, as analysts optimistically anticipate an estimated 13.81 earnings per share for this fiscal period.
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