Hubbell Inc (NYSE:HUBB) Shares Bought by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Hubbell Inc by 2.7% during the 1st quarter, now holding 319,990 shares valued at approximately $105.9 million.
• Hubbell recently reported a quarterly earnings per share (EPS) of $4.93, surpassing analyst expectations of $4.36, with a revenue of $1.48 billion.
• The company declared a quarterly dividend of $1.32 per share, resulting in an annualized dividend yield of 1.3%.

Charles Schwab Investment Management Inc. grew its position in shares of Hubbell Inc (NYSE:HUBB - Free Report) by 2.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 319,990 shares of the industrial products company's stock after purchasing an additional 8,342 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.60% of Hubbell worth $105,888,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Tsfg LLC acquired a new stake in Hubbell in the 1st quarter valued at $30,000. Johnson Financial Group Inc. boosted its stake in Hubbell by 166.7% during the 4th quarter. Johnson Financial Group Inc. now owns 104 shares of the industrial products company's stock worth $44,000 after purchasing an additional 65 shares during the last quarter. NBC Securities Inc. acquired a new stake in Hubbell during the 1st quarter worth $49,000. CX Institutional acquired a new stake in Hubbell during the 1st quarter worth $49,000. Finally, Intact Investment Management Inc. acquired a new stake in Hubbell during the 1st quarter worth $66,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on HUBB. JPMorgan Chase & Co. lifted their target price on shares of Hubbell from $352.00 to $417.00 and gave the stock a "neutral" rating in a research note on Friday, May 16th. Wall Street Zen raised shares of Hubbell from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Wells Fargo & Company lifted their target price on shares of Hubbell from $420.00 to $445.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Finally, Barclays lifted their target price on shares of Hubbell from $420.00 to $431.00 and gave the stock an "equal weight" rating in a research note on Friday, August 1st. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $462.29.

Insider Transactions at Hubbell

In related news, Director Carlos M. Cardoso sold 400 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $386.29, for a total value of $154,516.00. Following the sale, the director directly owned 1,727 shares in the company, valued at approximately $667,122.83. The trade was a 18.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.66% of the company's stock.

Hubbell Trading Down 1.3%

Shares of NYSE HUBB traded down $5.83 during trading on Thursday, hitting $438.12. 473,414 shares of the company were exchanged, compared to its average volume of 637,834. Hubbell Inc has a 12-month low of $299.42 and a 12-month high of $481.35. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.76 and a current ratio of 1.30. The company has a fifty day moving average price of $414.49 and a 200-day moving average price of $382.53. The firm has a market capitalization of $23.28 billion, a PE ratio of 28.45, a P/E/G ratio of 2.42 and a beta of 0.99.

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

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be issued a $1.32 dividend. This represents a $5.28 annualized dividend and a yield of 1.2%. The ex-dividend date is Friday, August 29th. Hubbell's payout ratio is 34.29%.

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.