Woodley Farra Manion Portfolio Management Inc. Buys New Shares in Hubbell Inc $HUBB

Woodley Farra Manion Portfolio Management Inc. bought a new stake in shares of Hubbell Inc (NYSE:HUBB) in the 3rd quarter, HoldingsChannel reports. The fund bought 115,188 shares of the industrial products company’s stock, valued at approximately $52,249,000. Hubbell accounts for about 2.6% of Woodley Farra Manion Portfolio Management Inc.’s portfolio, making the stock its 16th biggest holding.

A number of other hedge funds also recently made changes to their positions in HUBB. IFP Advisors Inc increased its holdings in Hubbell by 2.1% during the second quarter. IFP Advisors Inc now owns 1,181 shares of the industrial products company’s stock worth $618,000 after buying an additional 24 shares during the last quarter. Farther Finance Advisors LLC grew its position in shares of Hubbell by 2.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,101 shares of the industrial products company’s stock valued at $500,000 after acquiring an additional 26 shares during the period. Signaturefd LLC grew its position in shares of Hubbell by 3.1% during the 3rd quarter. Signaturefd LLC now owns 905 shares of the industrial products company’s stock valued at $411,000 after acquiring an additional 27 shares during the period. Meeder Advisory Services Inc. grew its position in shares of Hubbell by 1.7% during the 1st quarter. Meeder Advisory Services Inc. now owns 1,698 shares of the industrial products company’s stock valued at $833,000 after acquiring an additional 28 shares during the period. Finally, Tectonic Advisors LLC increased its stake in shares of Hubbell by 2.0% during the 3rd quarter. Tectonic Advisors LLC now owns 1,457 shares of the industrial products company’s stock worth $661,000 after purchasing an additional 28 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors.

Hubbell Price Performance

NYSE HUBB opened at $438.42 on Wednesday. The company has a quick ratio of 0.87, a current ratio of 1.53 and a debt-to-equity ratio of 1.09. The company has a market cap of $23.16 billion, a PE ratio of 25.70, a price-to-earnings-growth ratio of 2.11 and a beta of 0.84. Hubbell Inc has a 52 week low of $403.82 and a 52 week high of $565.50. The firm’s 50-day simple moving average is $455.10 and its two-hundred day simple moving average is $486.21.

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

Hubbell Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be issued a $1.52 dividend. This is a boost from Hubbell’s previous quarterly dividend of $1.42. The ex-dividend date of this dividend is Monday, November 30th. This represents a $6.08 annualized dividend and a yield of 1.4%. Hubbell’s payout ratio is 35.64%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on HUBB shares. Morgan Stanley set a $600.00 price target on shares of Hubbell in a report on Friday, October 16th. Mizuho set a $515.00 price objective on Hubbell in a report on Wednesday, October 28th. Robert W. Baird decreased their target price on Hubbell from $550.00 to $540.00 and set an “outperform” rating for the company in a research report on Wednesday, October 28th. Wall Street Zen lowered Hubbell from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Wells Fargo & Company lowered their target price on Hubbell from $531.00 to $525.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 28th. Six equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $546.00.

About Hubbell

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.