Bessemer Group Inc Lowers stake in Hubbell Incorporated (HUBB)

Hubbell Incorporated (HUBB) : Bessemer Group Inc reduced its stake in Hubbell Incorporated by 4.06% during the most recent quarter end. The investment management company now holds a total of 3,347,680 shares of Hubbell Incorporated which is valued at $357,900,469 after selling 141,500 shares in Hubbell Incorporated , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Hubbell Incorporated makes up approximately 1.92% of Bessemer Group Inc’s portfolio.

Other Hedge Funds, Including , Picton Mahoney Asset Management boosted its stake in HUBB in the latest quarter, The investment management firm added 4,600 additional shares and now holds a total of 17,600 shares of Hubbell Incorporated which is valued at $1,881,616. Hubbell Incorporated makes up approx 0.13% of Picton Mahoney Asset Management’s portfolio.Edge Asset Management Inc boosted its stake in HUBB in the latest quarter, The investment management firm added 6,971 additional shares and now holds a total of 159,028 shares of Hubbell Incorporated which is valued at $16,823,572. Hubbell Incorporated makes up approx 0.14% of Edge Asset Management Inc’s portfolio.Seabridge Investment Advisors reduced its stake in HUBB by selling 145 shares or 0.21% in the most recent quarter. The Hedge Fund company now holds 69,829 shares of HUBB which is valued at $7,373,942. Hubbell Incorporated makes up approx 1.70% of Seabridge Investment Advisors’s portfolio.Ls Investment Advisors boosted its stake in HUBB in the latest quarter, The investment management firm added 1,298 additional shares and now holds a total of 3,216 shares of Hubbell Incorporated which is valued at $339,610. Hubbell Incorporated makes up approx 0.02% of Ls Investment Advisors’s portfolio.Neville Rodie Shaw Inc reduced its stake in HUBB by selling 300 shares or 0.74% in the most recent quarter. The Hedge Fund company now holds 40,461 shares of HUBB which is valued at $4,296,554. Hubbell Incorporated makes up approx 0.50% of Neville Rodie Shaw Inc’s portfolio.

On the company’s financial health, Hubbell Incorporated reported $1.53 EPS for the quarter, beating the analyst consensus estimate by $ 0.10 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $1.43. The company had revenue of $908.80 million for the quarter, compared to analysts expectations of $898.99 million. The company’s revenue was up 4.0% compared to the same quarter last year.

Investors should note that on Jul 22, 2016, Hubbell Incorporated announced a cash dividend of $0.6300. The company’s management has announced Aug 29, 2016 as the ex-dividend date and fixed the record date on Aug 31, 2016. The payable date has been fixed on Sep 15, 2016.

Hubbell Incorporated (Hubbell) 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 operates in two segments: Electrical and Power. The Electrical segment consists of electrical systems products and lighting products. The Electrical segment consists of businesses which sell stock and custom products including standard and special application wiring device products rough-in electrical products connector and grounding products lighting fixtures and controls. It also offers light-emitting diode (LED) luminaire products. The Power segment designs and manufactures various distribution transmission substation and telecommunication products used by the electrical utility industry. It offers these products to electric utilities telecommunication companies pipeline and mining operations and construction and engineering firms among others.

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