Nomura Asset Management Co. Ltd. Purchases 5,713 Shares of Hubbell Inc $HUBB

Nomura Asset Management Co. Ltd. boosted its position in Hubbell Inc (NYSE:HUBB) by 10.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 61,940 shares of the industrial products company’s stock after acquiring an additional 5,713 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Hubbell were worth $25,297,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nuveen LLC bought a new stake in Hubbell during the first quarter valued at about $213,283,000. Adage Capital Partners GP L.L.C. increased its stake in shares of Hubbell by 181.6% in the first quarter. Adage Capital Partners GP L.L.C. now owns 975,196 shares of the industrial products company’s stock worth $322,702,000 after purchasing an additional 628,886 shares during the period. Boston Partners acquired a new position in shares of Hubbell during the 2nd quarter worth about $230,200,000. Mirova US LLC bought a new stake in Hubbell during the 2nd quarter valued at approximately $139,386,000. Finally, Deutsche Bank AG boosted its stake in Hubbell by 35.1% during the 1st quarter. Deutsche Bank AG now owns 1,104,085 shares of the industrial products company’s stock valued at $365,353,000 after purchasing an additional 287,047 shares during the period. Institutional investors and hedge funds own 88.16% of the company’s stock.

Insider Activity

In other Hubbell news, insider Mark Eugene Mikes sold 2,470 shares of the firm’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 transaction, the insider owned 4,785 shares in the company, valued at $2,232,202.50. This trade represents a 34.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Alyssa R. Flynn sold 2,011 shares of Hubbell stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $470.32, for a total value of $945,813.52. Following the sale, the insider directly owned 3,243 shares in the company, valued at $1,525,247.76. The trade was a 38.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.66% of the stock is currently owned by insiders.

Hubbell Price Performance

Shares of NYSE:HUBB opened at $417.38 on Wednesday. Hubbell Inc has a 1-year low of $299.42 and a 1-year high of $484.26. The firm has a market capitalization of $22.18 billion, a PE ratio of 25.89, a PEG ratio of 2.60 and a beta of 1.00. The business’s 50 day moving average is $437.10 and its 200-day moving average is $419.89. The company has a current ratio of 1.36, a quick ratio of 0.76 and a debt-to-equity ratio of 0.28.

Hubbell (NYSE:HUBB) last issued its earnings results 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. The business had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.54 billion. Hubbell had a return on equity of 27.68% and a net margin of 15.24%.Hubbell’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the company posted $4.49 earnings per share. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. Sell-side analysts predict that Hubbell Inc will post 17.63 earnings per share for the current year.

Hubbell Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Friday, November 28th will be issued a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, November 28th. This is a positive change from Hubbell’s previous quarterly dividend of $1.32. Hubbell’s payout ratio is 35.24%.

Wall Street Analyst Weigh In

HUBB has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their price target on Hubbell from $417.00 to $458.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Wells Fargo & Company raised their price objective on shares of Hubbell from $490.00 to $500.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hubbell in a research report on Wednesday, October 8th. Barclays increased their price target on shares of Hubbell from $431.00 to $456.00 and gave the company an “equal weight” rating in a report on Wednesday, October 29th. Finally, Mizuho raised their price target on shares of Hubbell from $475.00 to $480.00 and gave the stock an “outperform” rating in a research report on Friday, October 17th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $477.83.

About Hubbell

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.