Hubbell Inc $HUBB Shares Sold by Ceredex Value Advisors LLC

Ceredex Value Advisors LLC lowered its position in Hubbell Inc (NYSE:HUBB) by 28.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 71,525 shares of the industrial products company’s stock after selling 28,450 shares during the quarter. Ceredex Value Advisors LLC’s holdings in Hubbell were worth $29,212,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in HUBB. Central Pacific Bank Trust Division acquired a new stake in Hubbell in the 2nd quarter valued at approximately $29,000. Cullen Frost Bankers Inc. grew its stake in shares of Hubbell by 400.0% in the second quarter. Cullen Frost Bankers Inc. now owns 85 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 68 shares in the last quarter. Ransom Advisory Ltd bought a new position in shares of Hubbell in the first quarter worth $53,000. Johnson Financial Group Inc. increased its holdings in shares of Hubbell by 185.4% during the second quarter. Johnson Financial Group Inc. now owns 137 shares of the industrial products company’s stock valued at $56,000 after purchasing an additional 89 shares during the period. Finally, Groupe la Francaise bought a new stake in shares of Hubbell during the first quarter valued at about $57,000. Institutional investors own 88.16% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on HUBB. Mizuho increased their target price on shares of Hubbell from $475.00 to $480.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. UBS Group began coverage on shares of Hubbell in a research note on Thursday, November 20th. They issued a “neutral” rating and a $450.00 price target for the company. Wells Fargo & Company raised their price objective on shares of Hubbell from $490.00 to $500.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Wall Street Zen raised Hubbell from a “buy” rating to a “strong-buy” rating in a report on Sunday, November 2nd. Finally, Barclays increased their price target on Hubbell from $431.00 to $456.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 29th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $474.00.

Insider Buying and Selling

In other Hubbell news, insider Mark Eugene Mikes sold 2,470 shares of Hubbell stock in a transaction that occurred on 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 transaction, the insider directly owned 4,785 shares in the company, valued at approximately $2,232,202.50. The trade was a 34.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John F. Malloy purchased 435 shares of the stock in a transaction dated Monday, November 17th. The shares were acquired at an average price of $429.24 per share, for a total transaction of $186,719.40. Following the acquisition, the director directly owned 19,085 shares of the company’s stock, valued at $8,192,045.40. This 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 company insiders.

Hubbell Stock Down 0.3%

HUBB stock opened at $428.58 on Friday. The firm has a market cap of $22.78 billion, a PE ratio of 26.59, a P/E/G ratio of 2.60 and a beta of 1.00. Hubbell Inc has a 12 month low of $299.42 and a 12 month high of $484.26. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.36 and a quick ratio of 0.76. The firm has a 50 day simple moving average of $434.74 and a 200 day simple moving average of $422.35.

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

Hubbell Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be given a $1.42 dividend. This is a positive change from Hubbell’s previous quarterly dividend of $1.32. The ex-dividend date is Friday, November 28th. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.3%. Hubbell’s dividend payout ratio is 35.24%.

Hubbell Company Profile

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.