Hubbell Inc $HUBB Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. boosted its position in shares of Hubbell Inc (NYSE:HUBB) by 0.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,646,922 shares of the industrial products company’s stock after buying an additional 21,508 shares during the period. Vanguard Group Inc. owned 12.51% of Hubbell worth $2,714,669,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of HUBB. Central Pacific Bank Trust Division purchased a new stake in shares of Hubbell during the 2nd quarter valued at approximately $29,000. Cullen Frost Bankers Inc. lifted its holdings in Hubbell by 400.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 85 shares of the industrial products company’s stock worth $35,000 after buying an additional 68 shares in the last quarter. Ransom Advisory Ltd acquired a new position in Hubbell during the 1st quarter worth $53,000. Groupe la Francaise acquired a new position in Hubbell during the 1st quarter worth approximately $57,000. Finally, Geneos Wealth Management Inc. increased its holdings in Hubbell by 271.9% in the first quarter. Geneos Wealth Management Inc. now owns 212 shares of the industrial products company’s stock valued at $70,000 after buying an additional 155 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Stock Down 2.9%

Hubbell stock opened at $407.13 on Friday. The company has a 50-day simple moving average of $435.76 and a 200-day simple moving average of $419.80. Hubbell Inc has a one year low of $299.42 and a one year high of $484.26. The firm has a market capitalization of $21.64 billion, a P/E ratio of 25.26, a P/E/G ratio of 2.60 and a beta of 1.00. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.76 and a current ratio of 1.36.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $5.17 EPS for the quarter, topping analysts’ consensus estimates of $4.98 by $0.19. The company had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.54 billion. Hubbell had a net margin of 15.24% and a return on equity of 27.68%. Hubbell’s revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $4.49 EPS. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. As a group, equities analysts expect that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be given a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.4%. This is a positive change from Hubbell’s previous quarterly dividend of $1.32. The ex-dividend date of this dividend is Friday, November 28th. Hubbell’s payout ratio is currently 35.24%.

Insider Activity

In other news, insider Alyssa R. Flynn sold 2,011 shares of the business’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $470.32, for a total value of $945,813.52. Following the completion of the sale, the insider directly owned 3,243 shares in the company, valued at approximately $1,525,247.76. The trade was a 38.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John F. Malloy acquired 435 shares of the stock in a transaction dated Monday, November 17th. The shares were purchased at an average price of $429.24 per share, for a total transaction of $186,719.40. Following the completion of the transaction, the director owned 19,085 shares of the company’s stock, valued at $8,192,045.40. This trade represents a 2.33% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.66% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

HUBB has been the topic of several research analyst reports. Stephens reaffirmed an “overweight” rating and set a $500.00 price target on shares of Hubbell in a research report on Thursday, September 11th. Barclays lifted their price target on shares of Hubbell from $431.00 to $456.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 29th. Wells Fargo & Company increased their price target on shares of Hubbell from $490.00 to $500.00 and gave the company an “overweight” rating in a research report on Wednesday, October 29th. JPMorgan Chase & Co. upped their price objective on shares of Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a research note on Wednesday, October 15th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Hubbell in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $473.86.

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.