Legal & General Group Plc Reduces Stake in Hubbell Inc $HUBB

Legal & General Group Plc lowered its position in Hubbell Inc (NYSE:HUBB) by 5.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 294,002 shares of the industrial products company’s stock after selling 16,743 shares during the period. Legal & General Group Plc owned approximately 0.55% of Hubbell worth $130,569,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Hantz Financial Services Inc. boosted its position in Hubbell by 271.4% in the fourth quarter. Hantz Financial Services Inc. now owns 260 shares of the industrial products company’s stock valued at $115,000 after buying an additional 190 shares during the last quarter. Troy Asset Management Ltd boosted its position in Hubbell by 60.7% in the fourth quarter. Troy Asset Management Ltd now owns 551,620 shares of the industrial products company’s stock valued at $244,980,000 after buying an additional 208,327 shares during the last quarter. Coldstream Capital Management Inc. boosted its position in Hubbell by 3.4% in the fourth quarter. Coldstream Capital Management Inc. now owns 3,628 shares of the industrial products company’s stock valued at $1,611,000 after buying an additional 120 shares during the last quarter. Jefferies Financial Group Inc. purchased a new stake in Hubbell in the fourth quarter valued at approximately $2,240,000. Finally, MQS Management LLC purchased a new stake in Hubbell in the fourth quarter valued at approximately $265,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.

Hubbell Stock Down 2.3%

NYSE HUBB opened at $473.22 on Friday. The business has a fifty day moving average price of $503.89 and a 200 day moving average price of $481.83. Hubbell Inc has a one year low of $374.68 and a one year high of $565.50. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.94 and a current ratio of 1.58. The company has a market cap of $25.16 billion, a P/E ratio of 27.95, a P/E/G ratio of 2.44 and a beta of 0.95.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Thursday, April 30th. The industrial products company reported $3.93 EPS for the quarter, beating the consensus estimate of $3.87 by $0.06. Hubbell had a return on equity of 27.09% and a net margin of 15.10%.The firm had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.50 billion. During the same period in the prior year, the company earned $3.50 EPS. The firm’s revenue was up 11.1% compared to the same quarter last year. Hubbell has set its FY 2026 guidance at 19.300-19.850 EPS. Research analysts anticipate that Hubbell Inc will post 19.84 EPS for the current fiscal year.

Hubbell Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be paid a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Friday, May 29th. Hubbell’s dividend payout ratio is currently 33.55%.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Morgan Stanley upped their price objective on Hubbell from $515.00 to $565.00 and gave the stock an “equal weight” rating in a research report on Wednesday, March 11th. Wall Street Zen lowered Hubbell from a “buy” rating to a “hold” rating in a research report on Tuesday, May 12th. Stephens upped their price objective on Hubbell from $550.00 to $600.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Evercore upped their price objective on Hubbell from $575.00 to $585.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 4th. Finally, Wells Fargo & Company upped their price objective on Hubbell from $530.00 to $560.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Five research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Hubbell currently has an average rating of “Moderate Buy” and a consensus target price of $546.25.

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.