1,097 Shares in Hubbell Inc $HUBB Acquired by Tevis Investment Management

Tevis Investment Management purchased a new position in shares of Hubbell Inc (NYSE:HUBB) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 1,097 shares of the industrial products company’s stock, valued at approximately $448,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. McKinley Carter Wealth Services Inc. lifted its stake in shares of Hubbell by 16.7% during the 2nd quarter. McKinley Carter Wealth Services Inc. now owns 19,829 shares of the industrial products company’s stock worth $8,098,000 after acquiring an additional 2,843 shares during the last quarter. Belpointe Asset Management LLC bought a new stake in shares of Hubbell during the 2nd quarter worth approximately $320,000. Venturi Wealth Management LLC bought a new stake in shares of Hubbell during the 2nd quarter worth approximately $490,000. Teacher Retirement System of Texas lifted its stake in shares of Hubbell by 1,462.9% during the 1st quarter. Teacher Retirement System of Texas now owns 7,846 shares of the industrial products company’s stock worth $2,596,000 after acquiring an additional 7,344 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI bought a new stake in shares of Hubbell during the 1st quarter worth approximately $1,423,000. 88.16% of the stock is owned by institutional investors.

Hubbell Trading Down 0.1%

Shares of NYSE:HUBB opened at $434.10 on Tuesday. Hubbell Inc has a 12-month low of $299.42 and a 12-month high of $481.35. The business’s fifty day simple moving average is $431.32 and its 200-day simple moving average is $407.61. The company has a market capitalization of $23.07 billion, a PE ratio of 28.19, a P/E/G ratio of 2.42 and a beta of 0.96. The company has a current ratio of 1.30, a quick ratio of 0.76 and a debt-to-equity ratio of 0.30.

Hubbell (NYSE:HUBB) last announced its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.36 by $0.57. Hubbell had a return on equity of 27.63% and a net margin of 14.76%.The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.51 billion. As a group, equities research analysts predict that Hubbell Inc will post 17.63 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be paid a dividend of $1.42 per share. This is a positive change from Hubbell’s previous quarterly dividend of $1.32. The ex-dividend date is Friday, November 28th. This represents a $5.68 annualized dividend and a yield of 1.3%. Hubbell’s dividend payout ratio (DPR) is presently 34.29%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on HUBB shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Hubbell in a research note on Wednesday, October 8th. Wells Fargo & Company upgraded Hubbell from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $445.00 to $490.00 in a report on Tuesday, September 2nd. JPMorgan Chase & Co. raised their price objective on Hubbell from $417.00 to $458.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Stephens restated an “overweight” rating and set a $500.00 price objective on shares of Hubbell in a report on Thursday, September 11th. Finally, Wall Street Zen downgraded Hubbell from a “strong-buy” rating to a “buy” rating in a report on Saturday. Five investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $476.50.

Hubbell Profile

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.