Hubbell Inc (HUBB) Stake Lifted by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. raised its position in Hubbell Inc (NYSE:HUBB) by 8.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 186,923 shares of the industrial products company’s stock after purchasing an additional 14,112 shares during the period. Schwab Charles Investment Management Inc. owned 0.34% of Hubbell worth $21,687,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Northwestern Mutual Investment Management Company LLC increased its stake in shares of Hubbell by 1.0% in the 2nd quarter. Northwestern Mutual Investment Management Company LLC now owns 8,979 shares of the industrial products company’s stock valued at $947,000 after acquiring an additional 93 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Hubbell by 4.3% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 2,663 shares of the industrial products company’s stock valued at $301,000 after acquiring an additional 111 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Hubbell by 8.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,071 shares of the industrial products company’s stock valued at $234,000 after acquiring an additional 163 shares in the last quarter. Arizona State Retirement System increased its stake in shares of Hubbell by 0.9% in the 2nd quarter. Arizona State Retirement System now owns 21,600 shares of the industrial products company’s stock valued at $2,444,000 after acquiring an additional 200 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its stake in shares of Hubbell by 0.3% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 72,539 shares of the industrial products company’s stock valued at $8,209,000 after acquiring an additional 221 shares in the last quarter. Hedge funds and other institutional investors own 85.21% of the company’s stock.

Shares of Hubbell Inc (HUBB) opened at $128.87 on Friday. The company has a market cap of $7,040.98, a price-to-earnings ratio of 22.43, a price-to-earnings-growth ratio of 2.37 and a beta of 1.09. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.43 and a current ratio of 2.28. Hubbell Inc has a one year low of $109.32 and a one year high of $131.68.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, October 24th. The industrial products company reported $1.65 EPS for the quarter, beating the Zacks’ consensus estimate of $1.50 by $0.15. The business had revenue of $950.50 million during the quarter, compared to analyst estimates of $960.28 million. Hubbell had a net margin of 7.96% and a return on equity of 19.69%. Hubbell’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.63 EPS. equities research analysts forecast that Hubbell Inc will post 5.44 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Thursday, November 30th were issued a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a yield of 2.39%. This is an increase from Hubbell’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Wednesday, November 29th. Hubbell’s payout ratio is currently 59.34%.

Hubbell declared that its board has initiated a share buyback program on Friday, October 20th that permits the company to buyback $400.00 million in outstanding shares. This buyback authorization permits the industrial products company to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Several research firms have recently weighed in on HUBB. BidaskClub upgraded shares of Hubbell from a “sell” rating to a “hold” rating in a research note on Wednesday, September 27th. Zacks Investment Research upgraded shares of Hubbell from a “hold” rating to a “buy” rating and set a $128.00 price target for the company in a research note on Wednesday, September 27th. Finally, Morgan Stanley restated an “overweight” rating and set a $132.00 price target (up previously from $130.00) on shares of Hubbell in a research note on Monday, October 2nd. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Hubbell currently has a consensus rating of “Hold” and an average price target of $124.00.

In other Hubbell news, insider Gerben Bakker sold 590 shares of Hubbell stock in a transaction on Monday, October 30th. The shares were sold at an average price of $125.34, for a total transaction of $73,950.60. Following the transaction, the insider now directly owns 13,249 shares of the company’s stock, valued at approximately $1,660,629.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.28% of the stock is owned by insiders.

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About Hubbell

Hubbell Incorporated 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’s segments include Electrical and the Power. The Electrical segment consists of businesses that sell stock and custom products, including standard and special application wiring device products, rough-in electrical products, lighting fixtures and controls, components and assemblies for the natural gas distribution market, as well as other electrical equipment.

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Institutional Ownership by Quarter for Hubbell (NYSE:HUBB)

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