24,438 Hubbell Inc $HUBB Shares Bought by Bahl & Gaynor LLC

Bahl & Gaynor LLC lifted its position in shares of Hubbell Inc (NYSE:HUBB) by 6.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 419,251 shares of the industrial products company’s stock after purchasing an additional 24,438 shares during the period. Hubbell accounts for approximately 0.9% of Bahl & Gaynor LLC’s investment portfolio, making the stock its 29th biggest holding. Bahl & Gaynor LLC’s holdings in Hubbell were worth $190,172,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Schuylkill Financial LLC bought a new stake in Hubbell in the 2nd quarter valued at $30,000. Keating Financial Advisory Services Inc. bought a new position in Hubbell during the 2nd quarter worth $35,000. Fiduciary Financial Advisors bought a new position in Hubbell during the 2nd quarter worth $37,000. Gen Wealth Partners Inc acquired a new stake in shares of Hubbell during the third quarter worth $35,000. Finally, Arlington Trust Co LLC lifted its holdings in shares of Hubbell by 83.7% during the second quarter. Arlington Trust Co LLC now owns 79 shares of the industrial products company’s stock worth $41,000 after buying an additional 36 shares in the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

Hubbell Stock Performance

NYSE:HUBB opened at $438.42 on Wednesday. The company has a market cap of $23.16 billion, a price-to-earnings ratio of 21.98, a PEG ratio of 2.11 and a beta of 0.84. Hubbell Inc has a fifty-two week low of $403.82 and a fifty-two week high of $565.50. 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 stock has a fifty day moving average price of $455.10 and a 200-day moving average price of $486.21.

Hubbell (NYSE:HUBB) last issued its quarterly earnings results on Tuesday, October 27th. The industrial products company reported $5.91 EPS for the quarter, topping analysts’ consensus estimates of $5.75 by $0.16. The company had revenue of $1.87 billion for the quarter, compared to analysts’ expectations of $1.85 billion. Hubbell had a return on equity of 27.33% and a net margin of 13.78%. Hubbell’s revenue was up 24.6% on a year-over-year basis. During the same quarter last year, the business earned $5.17 earnings per share. As a group, equities analysts anticipate that Hubbell Inc will post 20.55 EPS for the current fiscal year.

Hubbell Increases Dividend

The company 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 $1.52 dividend. This represents a $6.08 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Monday, November 30th. This is a boost from Hubbell’s previous quarterly dividend of $1.42. Hubbell’s dividend payout ratio is presently 33.29%.

Analysts Set New Price Targets

A number of equities analysts recently commented on HUBB shares. Morgan Stanley set a $600.00 price objective on shares of Hubbell in a research note on Friday, October 16th. Wall Street Zen downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Seaport Research Partners restated a “buy” rating and set a $580.00 target price on shares of Hubbell in a research report on Wednesday, September 30th. JPMorgan Chase & Co. raised their target price on shares of Hubbell from $485.00 to $486.00 and gave the stock a “neutral” rating in a report on Wednesday, October 28th. Finally, Mizuho set a $515.00 target price on shares of Hubbell in a report on Wednesday, October 28th. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $546.00.

Hubbell Company 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.