Ethic Inc. Purchases 2,229 Shares of Hubbell Inc $HUBB

Ethic Inc. increased its holdings in Hubbell Inc (NYSE:HUBB) by 20.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,213 shares of the industrial products company’s stock after buying an additional 2,229 shares during the quarter. Ethic Inc.’s holdings in Hubbell were worth $5,993,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of HUBB. Corient Private Wealth LP purchased a new position in shares of Hubbell during the second quarter worth $4,254,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Hubbell in the second quarter valued at $7,648,000. NewEdge Wealth LLC purchased a new stake in Hubbell in the second quarter valued at $745,000. Royal London Asset Management Ltd. boosted its holdings in Hubbell by 25.9% in the second quarter. Royal London Asset Management Ltd. now owns 380,948 shares of the industrial products company’s stock valued at $199,312,000 after purchasing an additional 78,357 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new stake in Hubbell during the 2nd quarter worth about $783,142,000. 88.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Wells Fargo & Company reduced their price objective on Hubbell from $531.00 to $525.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 28th. Mizuho set a $515.00 target price on Hubbell in a research note on Wednesday, October 28th. JPMorgan Chase & Co. raised their target price on Hubbell from $485.00 to $486.00 and gave the stock a “neutral” rating in a report on Wednesday, October 28th. Sanford C. Bernstein reiterated an “outperform” rating on shares of Hubbell in a research report on Wednesday, July 29th. Finally, Morgan Stanley set a $600.00 price target on Hubbell in a research report on Friday, October 16th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $546.00.

Hubbell Stock Up 3.0%

HUBB stock opened at $442.32 on Tuesday. The firm has a market cap of $23.37 billion, a PE ratio of 21.82, a P/E/G ratio of 2.09 and a beta of 0.84. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.87 and a current ratio of 1.53. The firm’s fifty day moving average is $455.39 and its 200 day moving average is $486.44. Hubbell Inc has a one year low of $403.82 and a one year high of $565.50.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, October 27th. The industrial products company reported $5.91 earnings per share for the quarter, beating analysts’ consensus estimates of $5.75 by $0.16. The company had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Hubbell had a net margin of 13.78% and a return on equity of 27.33%. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.17 earnings per share. On average, research analysts forecast that Hubbell Inc will post 20.55 EPS for the current year.

Hubbell Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be given a dividend of $1.52 per share. This is a boost from Hubbell’s previous quarterly dividend of $1.42. The ex-dividend date is Monday, November 30th. This represents a $6.08 dividend on an annualized basis and a dividend yield of 1.4%. Hubbell’s payout ratio is 33.29%.

Hubbell Profile

Hubbell Incorporated is a manufacturer of electrical and utility products serving customers in the energy, industrial, commercial and residential markets. Its products help support the generation, transmission and distribution of electricity, as well as the installation and use of electrical systems.

The company’s Utility Solutions business makes products such as connectors, insulators, arresters and other equipment used in electric utility networks. Its Electrical Solutions business supplies wiring devices, lighting and controls, enclosures and related products for buildings and industrial applications.

Founded by inventor Harvey Hubbell in 1888, the company serves customers primarily in North America, with operations and sales in other markets.