Schwab Charles Investment Management Inc. Buys 7,476 Shares of Hubbell Inc (HUBB)

Schwab Charles Investment Management Inc. raised its stake in shares of Hubbell Inc (NYSE:HUBB) by 4.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 172,811 shares of the industrial products company’s stock after purchasing an additional 7,476 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.32% of Hubbell worth $19,558,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. World Asset Management Inc boosted its holdings in Hubbell by 0.3% during the second quarter. World Asset Management Inc now owns 3,886 shares of the industrial products company’s stock valued at $440,000 after purchasing an additional 12 shares in the last quarter. Somerset Trust Co boosted its holdings in Hubbell by 0.4% during the second quarter. Somerset Trust Co now owns 5,329 shares of the industrial products company’s stock valued at $603,000 after purchasing an additional 22 shares in the last quarter. FineMark National Bank & Trust boosted its holdings in Hubbell by 0.5% during the second quarter. FineMark National Bank & Trust now owns 5,286 shares of the industrial products company’s stock valued at $598,000 after purchasing an additional 27 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its holdings in Hubbell by 1.1% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 2,552 shares of the industrial products company’s stock valued at $306,000 after purchasing an additional 29 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in Hubbell by 6.3% during the second quarter. State of Alaska Department of Revenue now owns 2,530 shares of the industrial products company’s stock valued at $286,000 after purchasing an additional 150 shares in the last quarter. 85.15% of the stock is currently owned by institutional investors.

A number of research firms have weighed in on HUBB. BidaskClub raised Hubbell from a “strong sell” rating to a “sell” rating in a report on Friday, September 1st. JMP Securities began coverage on Hubbell in a report on Monday, June 19th. They set a “market perform” rating on the stock. Zacks Investment Research raised Hubbell from a “sell” rating to a “hold” rating in a report on Thursday, July 27th. Finally, Wolfe Research began coverage on Hubbell in a report on Tuesday, July 11th. They set a “market perform” rating on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $126.67.

Shares of Hubbell Inc (NYSE HUBB) opened at 113.31 on Thursday. The firm’s 50-day moving average price is $113.69 and its 200-day moving average price is $115.88. Hubbell Inc has a 12-month low of $101.15 and a 12-month high of $125.93. The firm has a market capitalization of $6.20 billion, a P/E ratio of 21.50 and a beta of 1.03.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, July 25th. The industrial products company reported $1.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.40 by $0.11. Hubbell had a net margin of 8.23% and a return on equity of 19.77%. The company had revenue of $948.30 million for the quarter, compared to analysts’ expectations of $937.35 million. During the same period last year, the firm earned $1.53 earnings per share. The business’s revenue for the quarter was up 4.3% on a year-over-year basis. Equities analysts predict that Hubbell Inc will post $5.51 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were issued a dividend of $0.70 per share. The ex-dividend date was Tuesday, August 29th. This represents a $2.80 annualized dividend and a dividend yield of 2.47%. Hubbell’s dividend payout ratio is presently 53.03%.

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Hubbell Company Profile

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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