Hubbell Inc $HUBB Shares Bought by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA boosted its position in shares of Hubbell Inc (NYSE:HUBB) by 15.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,655,746 shares of the industrial products company’s stock after buying an additional 226,856 shares during the quarter. Massachusetts Financial Services Co. MA owned 3.12% of Hubbell worth $712,484,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Resonant Capital Advisors LLC lifted its stake in Hubbell by 5.8% during the third quarter. Resonant Capital Advisors LLC now owns 948 shares of the industrial products company’s stock valued at $408,000 after purchasing an additional 52 shares during the last quarter. Maryland State Retirement & Pension System increased its holdings in shares of Hubbell by 4.2% in the third quarter. Maryland State Retirement & Pension System now owns 2,608 shares of the industrial products company’s stock valued at $1,122,000 after buying an additional 105 shares in the last quarter. Occidental Asset Management LLC lifted its position in shares of Hubbell by 1.7% during the 3rd quarter. Occidental Asset Management LLC now owns 12,225 shares of the industrial products company’s stock valued at $5,260,000 after acquiring an additional 202 shares during the last quarter. Pinnacle Financial Partners Inc lifted its position in shares of Hubbell by 10.6% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 969 shares of the industrial products company’s stock valued at $417,000 after acquiring an additional 93 shares during the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. boosted its stake in shares of Hubbell by 6.6% during the 3rd quarter. Klein Pavlis & Peasley Financial Inc. now owns 3,821 shares of the industrial products company’s stock worth $1,644,000 after acquiring an additional 238 shares in the last quarter. Institutional investors own 88.16% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Mizuho upped their target price on Hubbell from $480.00 to $500.00 and gave the company an “outperform” rating in a report on Monday, January 5th. JPMorgan Chase & Co. boosted their price objective on Hubbell from $417.00 to $458.00 and gave the stock a “neutral” rating in a report on Wednesday, October 15th. Barclays raised their target price on shares of Hubbell from $456.00 to $465.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 7th. Evercore ISI initiated coverage on shares of Hubbell in a report on Monday, December 15th. They set an “outperform” rating and a $575.00 price target on the stock. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Hubbell in a research report on Wednesday, October 8th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $497.25.

Hubbell Price Performance

Shares of NYSE:HUBB opened at $489.92 on Friday. The stock has a market capitalization of $26.04 billion, a P/E ratio of 30.39, a P/E/G ratio of 2.48 and a beta of 1.02. The business has a 50-day moving average of $446.57 and a two-hundred day moving average of $437.57. Hubbell Inc has a fifty-two week low of $299.42 and a fifty-two week high of $497.95. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 0.85.

Hubbell (NYSE:HUBB) last issued its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $5.17 EPS for the quarter, beating analysts’ consensus estimates of $4.98 by $0.19. Hubbell had a return on equity of 27.68% and a net margin of 15.24%.The business had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the prior year, the firm posted $4.49 EPS. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. On average, equities research analysts predict that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were issued a dividend of $1.42 per share. The ex-dividend date of this dividend was Friday, November 28th. This represents a $5.68 annualized dividend and a dividend yield of 1.2%. This is an increase from Hubbell’s previous quarterly dividend of $1.32. Hubbell’s payout ratio is currently 35.24%.

Insider Activity at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 2,470 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $466.50, for a total transaction of $1,152,255.00. Following the completion of the sale, the insider directly owned 4,785 shares in the company, valued at $2,232,202.50. This represents a 34.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John F. Malloy acquired 435 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was acquired at an average price of $429.24 per share, for a total transaction of $186,719.40. Following the completion of the purchase, the director directly 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. The disclosure for this purchase is available in the SEC filing. 0.66% of the stock is currently owned by company insiders.

Hubbell Company 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.