Charles Schwab Investment Management Inc. Reduces Stock Position in Hubbell Incorporated (NYSE:HUBB)

Charles Schwab Investment Management Inc. trimmed its holdings in shares of Hubbell Incorporated (NYSE:HUBB) by 31.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 302,901 shares of the industrial products company’s stock after selling 141,849 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Hubbell were worth $129,748,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Mizuho Securities USA LLC boosted its stake in Hubbell by 192,421.1% during the third quarter. Mizuho Securities USA LLC now owns 7,980,000 shares of the industrial products company’s stock worth $3,418,233,000 after buying an additional 7,975,855 shares during the period. International Assets Investment Management LLC boosted its stake in shares of Hubbell by 42,735.0% during the 3rd quarter. International Assets Investment Management LLC now owns 1,919,865 shares of the industrial products company’s stock worth $8,223,740,000 after purchasing an additional 1,915,383 shares during the period. Impax Asset Management Group plc boosted its stake in shares of Hubbell by 53.8% during the 2nd quarter. Impax Asset Management Group plc now owns 922,801 shares of the industrial products company’s stock worth $336,984,000 after purchasing an additional 322,728 shares during the period. Bank of New York Mellon Corp raised its position in Hubbell by 16.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,035,596 shares of the industrial products company’s stock worth $743,970,000 after purchasing an additional 291,850 shares during the period. Finally, LGT Capital Partners LTD. bought a new stake in Hubbell in the third quarter worth about $39,687,000. Institutional investors own 88.16% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on HUBB. Mizuho upped their target price on Hubbell from $450.00 to $490.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft upgraded Hubbell from a “hold” rating to a “buy” rating and increased their target price for the stock from $431.00 to $441.00 in a research note on Friday, September 6th. Sanford C. Bernstein started coverage on Hubbell in a research report on Tuesday, November 5th. They set an “outperform” rating and a $535.00 target price for the company. Morgan Stanley upped their price target on shares of Hubbell from $407.00 to $445.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Finally, Barclays lifted their price objective on shares of Hubbell from $400.00 to $402.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Hubbell presently has an average rating of “Moderate Buy” and an average price target of $445.56.

Hubbell Trading Up 0.6 %

Shares of NYSE:HUBB opened at $463.78 on Tuesday. The business’s 50 day moving average price is $441.22 and its 200-day moving average price is $402.32. Hubbell Incorporated has a 1 year low of $293.91 and a 1 year high of $481.35. The firm has a market capitalization of $24.89 billion, a price-to-earnings ratio of 33.41, a price-to-earnings-growth ratio of 1.71 and a beta of 0.90. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 1.05.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, October 29th. The industrial products company reported $4.49 EPS for the quarter, topping the consensus estimate of $4.47 by $0.02. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.48 billion. Hubbell had a return on equity of 28.81% and a net margin of 13.33%. Hubbell’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the business earned $3.95 EPS. On average, equities research analysts forecast that Hubbell Incorporated will post 16.47 earnings per share for the current fiscal year.

Hubbell Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 29th will be issued a $1.32 dividend. This represents a $5.28 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Friday, November 29th. This is a boost from Hubbell’s previous quarterly dividend of $1.22. Hubbell’s dividend payout ratio (DPR) is currently 35.16%.

Insider Buying and Selling

In other news, insider Mark Eugene Mikes sold 1,144 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $466.20, for a total value of $533,332.80. Following the completion of the sale, the insider now owns 2,957 shares of the company’s stock, valued at $1,378,553.40. This represents a 27.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.78% of the stock is currently owned by company insiders.

About Hubbell

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.