OP Asset Management Ltd Buys Shares of 19,671 Hubbell Inc $HUBB

OP Asset Management Ltd purchased a new position in Hubbell Inc (NYSE:HUBB) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 19,671 shares of the industrial products company’s stock, valued at approximately $9,653,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. increased its stake in Hubbell by 147.8% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 57 shares of the industrial products company’s stock valued at $25,000 after acquiring an additional 34 shares during the last quarter. NBT Bank N A NY bought a new stake in Hubbell during the fourth quarter worth about $27,000. Raiffeisen Bank International AG lifted its stake in Hubbell by 83.3% during the fourth quarter. Raiffeisen Bank International AG now owns 66 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 30 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in shares of Hubbell by 62.8% in the 4th quarter. Baillie Gifford & Co. now owns 70 shares of the industrial products company’s stock worth $31,000 after purchasing an additional 27 shares in the last quarter. Finally, Harbor Investment Advisory LLC increased its position in shares of Hubbell by 630.0% during the 4th quarter. Harbor Investment Advisory LLC now owns 73 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 63 shares during the last quarter. Institutional investors own 88.16% of the company’s stock.

Hubbell Trading Up 3.0%

NYSE HUBB opened at $533.93 on Friday. The firm has a market cap of $28.21 billion, a PE ratio of 31.54, a price-to-earnings-growth ratio of 2.61 and a beta of 0.91. Hubbell Inc has a 1-year low of $400.99 and a 1-year high of $565.50. The stock has a 50-day moving average of $501.06 and a 200-day moving average of $490.77. The company has a current ratio of 1.58, a quick ratio of 0.94 and a debt-to-equity ratio of 0.54.

Hubbell (NYSE:HUBB) last posted its quarterly earnings results on Thursday, April 30th. The industrial products company reported $3.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.87 by $0.06. The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.50 billion. Hubbell had a return on equity of 27.09% and a net margin of 15.10%.Hubbell’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $3.50 EPS. Hubbell has set its FY 2026 guidance at 19.300-19.850 EPS. As a group, sell-side analysts forecast that Hubbell Inc will post 19.84 EPS for the current year.

Hubbell Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 15th. Stockholders of record on Friday, May 29th were paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend was Friday, May 29th. Hubbell’s dividend payout ratio is 33.55%.

Analyst Ratings Changes

A number of brokerages recently weighed in on HUBB. Stephens raised their price objective on Hubbell from $550.00 to $600.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Barclays increased their price target on shares of Hubbell from $481.00 to $503.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th. Morgan Stanley lifted their price target on shares of Hubbell from $515.00 to $565.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 11th. Weiss Ratings lowered shares of Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, June 11th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $515.00 price objective on shares of Hubbell in a research note on Tuesday, June 16th. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Hubbell has a consensus rating of “Moderate Buy” and a consensus price target of $554.38.

Hubbell Profile

Hubbell Incorporated (NYSE: HUBB) is an industrial manufacturer and distributor of electrical and electronic products serving a range of end markets including commercial and residential construction, industrial, and utility customers. Founded in 1888 by Harvey Hubbell, the company has a long history in electrical innovation and product development and is headquartered in Connecticut. Hubbell designs, manufactures and sells components and systems that enable the distribution and control of electrical power and provide lighting solutions for indoor and outdoor environments.

The company’s offerings span a broad portfolio of products used by contractors, utilities, original equipment manufacturers and facility owners.