Hubbell Inc. (HUBB) Stake Boosted by JPMorgan Chase & Co.
JPMorgan Chase & Co. boosted its position in Hubbell Inc. (NYSE:HUBB) by 1.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,389,639 shares of the company’s stock after buying an additional 44,024 shares during the period. JPMorgan Chase & Co. owned approximately 4.32% of Hubbell worth $257,459,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Bank of Montreal Can acquired a new position in shares of Hubbell during the second quarter valued at about $198,000. New England Research & Management Inc. acquired a new position in Hubbell during the second quarter worth $216,000. Boston Private Wealth LLC raised its position in Hubbell by 15.8% in the second quarter. Boston Private Wealth LLC now owns 2,306 shares of the company’s stock worth $243,000 after buying an additional 315 shares during the period. Seven Eight Capital LLC raised its position in Hubbell by 1,100.0% in the first quarter. Seven Eight Capital LLC now owns 2,400 shares of the company’s stock worth $254,000 after buying an additional 2,200 shares during the period. Finally, Huntington National Bank acquired a new position in Hubbell during the second quarter worth $263,000. 82.80% of the stock is owned by institutional investors.
Hubbell Inc. (NYSE:HUBB) opened at 111.45 on Wednesday. Hubbell Inc. has a 12 month low of $83.16 and a 12 month high of $113.54. The firm’s 50-day moving average is $106.67 and its 200-day moving average is $105.69. The stock has a market capitalization of $6.17 billion, a P/E ratio of 21.72 and a beta of 0.92.
Hubbell (NYSE:HUBB) last posted its earnings results on Tuesday, October 25th. The company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.13. Hubbell had a net margin of 8.33% and a return on equity of 19.40%. The firm earned $907 million during the quarter, compared to analyst estimates of $910.78 million. The firm’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, equities analysts expect that Hubbell Inc. will post $5.30 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be issued a $0.70 dividend. The ex-dividend date is Monday, November 28th. This is a positive change from Hubbell’s previous quarterly dividend of $0.63. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.51%. Hubbell’s dividend payout ratio (DPR) is 54.37%.
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Separately, Zacks Investment Research raised shares of Hubbell from a “hold” rating to a “buy” rating and set a $116.00 price target on the stock in a research report on Wednesday, October 19th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $105.20.
Hubbell Incorporated is engaged in the design, manufacture and sale of electrical and electronic products for a range of non-residential and residential construction, industrial and utility applications. The Company operates through two segments: Electrical and Power. The Electrical segment consists of electrical systems products and lighting products.
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