Charter Research & Investment Group Inc. Invests $218,000 in Hubbell Incorporated (NYSE:HUBB)

Charter Research & Investment Group Inc. purchased a new position in shares of Hubbell Incorporated (NYSE:HUBB) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 658 shares of the industrial products company’s stock, valued at approximately $218,000.

Several other large investors have also modified their holdings of HUBB. Global Retirement Partners LLC lifted its stake in shares of Hubbell by 122.7% in the first quarter. Global Retirement Partners LLC now owns 98 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 54 shares during the period. V Square Quantitative Management LLC acquired a new position in Hubbell during the second quarter worth $28,000. First Manhattan Co. acquired a new stake in Hubbell in the first quarter valued at $28,000. IFP Advisors Inc raised its stake in shares of Hubbell by 120.6% during the 2nd quarter. IFP Advisors Inc now owns 289 shares of the industrial products company’s stock worth $31,000 after buying an additional 158 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S increased its holdings in Hubbell by 55.2% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 149 shares of the industrial products company’s stock valued at $36,000 after acquiring an additional 53 shares in the last quarter. Hedge funds and other institutional investors own 85.97% of the company’s stock.

Hubbell Trading Up 2.2 %

HUBB opened at $296.00 on Friday. The firm has a market capitalization of $15.87 billion, a P/E ratio of 22.01, a P/E/G ratio of 1.91 and a beta of 0.93. The firm’s 50 day moving average is $298.94 and its 200-day moving average is $304.82. Hubbell Incorporated has a 52-week low of $219.77 and a 52-week high of $340.06. The company has a quick ratio of 1.43, a current ratio of 2.16 and a debt-to-equity ratio of 0.52.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $3.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.07 by ($0.12). The firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Hubbell had a net margin of 13.56% and a return on equity of 30.09%. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.08 EPS. Analysts expect that Hubbell Incorporated will post 15.19 EPS for the current fiscal year.

Hubbell Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be issued a dividend of $1.22 per share. This is an increase from Hubbell’s previous quarterly dividend of $1.12. The ex-dividend date is Wednesday, November 29th. This represents a $4.88 annualized dividend and a dividend yield of 1.65%. Hubbell’s payout ratio is 34.04%.

Insider Buying and Selling

In other Hubbell news, VP Nero Jonathan M. Del sold 1,902 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $285.54, for a total value of $543,097.08. Following the sale, the vice president now directly owns 3,646 shares in the company, valued at $1,041,078.84. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.66% of the company’s stock.

Wall Street Analyst Weigh In

HUBB has been the topic of a number of analyst reports. StockNews.com began coverage on Hubbell in a report on Thursday, October 5th. They set a “buy” rating on the stock. JPMorgan Chase & Co. upgraded shares of Hubbell from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $333.00 to $335.00 in a research report on Friday. Stephens restated an “overweight” rating and issued a $375.00 price target on shares of Hubbell in a report on Wednesday, November 1st. Mizuho raised their target price on shares of Hubbell from $300.00 to $370.00 in a research report on Wednesday, July 26th. Finally, Seaport Res Ptn reissued a “buy” rating on shares of Hubbell in a research report on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $299.43.

About Hubbell

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.