The Manufacturers Life Insurance Company Takes $13.96 Million Position in Hubbell Inc $HUBB

The Manufacturers Life Insurance Company acquired a new stake in shares of Hubbell Inc (NYSE:HUBB) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 26,677 shares of the industrial products company’s stock, valued at approximately $13,957,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Pinnacle Bancorp Inc. grew its holdings in Hubbell by 165.0% during the 1st quarter. Pinnacle Bancorp Inc. now owns 53 shares of the industrial products company’s stock valued at $26,000 after buying an additional 33 shares in the last quarter. Raiffeisen Bank International AG increased its position in shares of Hubbell by 83.3% during the fourth quarter. Raiffeisen Bank International AG now owns 66 shares of the industrial products company’s stock valued at $29,000 after buying an additional 30 shares during the period. Keating Financial Advisory Services Inc. bought a new stake in shares of Hubbell during the second quarter valued at about $35,000. Leonteq Securities AG purchased a new stake in shares of Hubbell in the first quarter worth about $33,000. Finally, Fiduciary Financial Advisors purchased a new stake in shares of Hubbell in the second quarter worth about $37,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Insider Buying and Selling

In other Hubbell news, VP Nero Jonathan M. Del sold 547 shares of the business’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $518.56, for a total value of $283,652.32. Following the completion of the transaction, the vice president owned 2,933 shares of the company’s stock, valued at $1,520,936.48. The trade was a 15.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.63% of the stock is currently owned by corporate insiders.

Hubbell Stock Performance

NYSE:HUBB opened at $459.86 on Friday. The stock has a market cap of $24.29 billion, a P/E ratio of 27.23, a PEG ratio of 2.30 and a beta of 0.90. The company has a quick ratio of 0.93, a current ratio of 1.61 and a debt-to-equity ratio of 1.22. The business’s 50-day moving average price is $491.58 and its two-hundred day moving average price is $497.43. Hubbell Inc has a twelve month low of $403.82 and a twelve month high of $565.50.

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

Hubbell Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on HUBB shares. Robert W. Baird started coverage on shares of Hubbell in a research report on Thursday, August 20th. They issued an “outperform” rating and a $550.00 price objective for the company. Wells Fargo & Company increased their target price on shares of Hubbell from $530.00 to $560.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Stephens increased their target price on shares of Hubbell from $550.00 to $600.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Wall Street Zen downgraded shares of Hubbell from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Hubbell in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $553.89.

About Hubbell

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.