Tevis Investment Management Acquires New Stake in Hubbell Inc $HUBB

Tevis Investment Management bought a new position in shares of Hubbell Inc (NYSE:HUBB) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,097 shares of the industrial products company’s stock, valued at approximately $448,000.

Several other institutional investors have also recently made changes to their positions in HUBB. Central Pacific Bank Trust Division purchased a new stake in shares of Hubbell during the second quarter worth about $29,000. Cullen Frost Bankers Inc. grew its position in shares of Hubbell by 400.0% during the second quarter. Cullen Frost Bankers Inc. now owns 85 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 68 shares in the last quarter. Ransom Advisory Ltd purchased a new stake in shares of Hubbell during the first quarter worth about $53,000. Groupe la Francaise purchased a new stake in shares of Hubbell during the first quarter worth about $57,000. Finally, Geneos Wealth Management Inc. grew its position in shares of Hubbell by 271.9% during the first quarter. Geneos Wealth Management Inc. now owns 212 shares of the industrial products company’s stock worth $70,000 after purchasing an additional 155 shares in the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on HUBB. JPMorgan Chase & Co. increased their target price on Hubbell from $417.00 to $458.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of Hubbell in a research note on Wednesday, October 8th. Mizuho increased their price target on Hubbell from $475.00 to $480.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Wall Street Zen lowered Hubbell from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, Barclays increased their price target on Hubbell from $420.00 to $431.00 and gave the company an “equal weight” rating in a research note on Friday, August 1st. Five analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, Hubbell presently has a consensus rating of “Moderate Buy” and an average target price of $476.50.

Hubbell Price Performance

NYSE:HUBB opened at $434.10 on Tuesday. The firm has a market capitalization of $23.07 billion, a price-to-earnings ratio of 28.19, a PEG ratio of 2.42 and a beta of 0.96. Hubbell Inc has a 1 year low of $299.42 and a 1 year high of $481.35. The business has a 50 day simple moving average of $431.32 and a 200-day simple moving average of $407.61. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.30 and a quick ratio of 0.76.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $4.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.36 by $0.57. The business had revenue of $1.48 billion during 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%. Equities analysts forecast that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be paid a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, November 28th. This is a positive change from Hubbell’s previous quarterly dividend of $1.32. Hubbell’s dividend 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.