MidAtlantic Capital Management Inc. Takes Position in Hubbell Inc $HUBB

MidAtlantic Capital Management Inc. bought a new stake in Hubbell Inc (NYSE:HUBB) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,768 shares of the industrial products company’s stock, valued at approximately $925,000. Hubbell comprises 0.6% of MidAtlantic Capital Management Inc.’s portfolio, making the stock its 22nd biggest position.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. bought a new position in Hubbell in the second quarter valued at approximately $2,455,986,000. Bank of New York Mellon Corp acquired a new position in shares of Hubbell during the 2nd quarter worth approximately $783,142,000. Wellington Management Group LLP increased its position in shares of Hubbell by 140.4% during the 4th quarter. Wellington Management Group LLP now owns 2,514,632 shares of the industrial products company’s stock worth $1,116,773,000 after purchasing an additional 1,468,701 shares during the last quarter. Deutsche Bank AG bought a new stake in shares of Hubbell during the 2nd quarter worth approximately $610,053,000. Finally, Boston Partners raised its stake in shares of Hubbell by 37.8% during the 4th quarter. Boston Partners now owns 1,015,118 shares of the industrial products company’s stock worth $452,675,000 after purchasing an additional 278,649 shares in the last quarter. Institutional investors own 88.16% of the company’s stock.

Hubbell Stock Down 1.6%

HUBB opened at $475.88 on Thursday. The stock’s fifty day simple moving average is $495.99 and its 200 day simple moving average is $498.75. Hubbell Inc has a 1-year low of $403.82 and a 1-year high of $565.50. The stock has a market cap of $25.14 billion, a PE ratio of 28.18, a price-to-earnings-growth ratio of 2.37 and a beta of 0.90. The company has a current ratio of 1.61, a quick ratio of 0.93 and a debt-to-equity ratio of 1.22.

Hubbell (NYSE:HUBB) last released its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $5.52 EPS for the quarter, topping analysts’ consensus estimates of $5.39 by $0.13. Hubbell had a net margin of 14.49% and a return on equity of 27.11%. The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the previous year, the business posted $4.93 earnings per share. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. Hubbell has set its FY 2026 guidance at 20.250-20.550 EPS. As a group, research analysts expect that Hubbell Inc will post 20.41 earnings per share for the current year.

Hubbell Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Monday, August 31st. Hubbell’s dividend payout ratio (DPR) is currently 33.63%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. UBS Group reissued a “neutral” rating and issued a $515.00 target price on shares of Hubbell in a research note on Tuesday, June 16th. Wall Street Zen lowered shares of Hubbell from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. 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 note on Monday, May 4th. Stephens lifted their price objective on shares of Hubbell from $550.00 to $600.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Finally, Weiss Ratings lowered shares of Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, July 14th. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $554.38.

Insider Activity at Hubbell

In related news, VP Nero Jonathan M. Del sold 547 shares of Hubbell stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $518.56, for a total transaction of $283,652.32. Following the completion of the sale, the vice president owned 2,933 shares of the company’s stock, valued at approximately $1,520,936.48. The trade was a 15.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.63% of the company’s stock.

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.