North Star Asset Management Inc. Makes New Investment in Hubbell Inc $HUBB

North Star Asset Management Inc. purchased a new position in Hubbell Inc (NYSE:HUBB) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,106 shares of the industrial products company’s stock, valued at approximately $1,102,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Ballentine Partners LLC raised its stake in Hubbell by 1.9% during the fourth quarter. Ballentine Partners LLC now owns 1,288 shares of the industrial products company’s stock worth $572,000 after acquiring an additional 24 shares during the period. Benjamin Edwards Inc. grew its holdings in shares of Hubbell by 2.0% during the second quarter. Benjamin Edwards Inc. now owns 1,237 shares of the industrial products company’s stock valued at $505,000 after purchasing an additional 24 shares during the last quarter. Quest Investment Management LLC raised its position in shares of Hubbell by 1.3% during the 3rd quarter. Quest Investment Management LLC now owns 1,895 shares of the industrial products company’s stock worth $816,000 after purchasing an additional 25 shares during the period. Gulf International Bank UK Ltd raised its position in shares of Hubbell by 1.1% during the 4th quarter. Gulf International Bank UK Ltd now owns 2,678 shares of the industrial products company’s stock worth $1,189,000 after purchasing an additional 28 shares during the period. Finally, Meeder Advisory Services Inc. lifted its holdings in shares of Hubbell by 1.7% in the 1st quarter. Meeder Advisory Services Inc. now owns 1,698 shares of the industrial products company’s stock worth $833,000 after purchasing an additional 28 shares during the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Hubbell

In related news, VP Nero Jonathan M. Del sold 547 shares of the company’s stock in a transaction dated 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 sale, the vice president owned 2,933 shares of the company’s stock, valued at $1,520,936.48. This represents a 15.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.63% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. UBS Group restated a “neutral” rating and set a $515.00 price objective on shares of Hubbell in a research note on Tuesday, June 16th. Wells Fargo & Company raised their target price on Hubbell from $530.00 to $560.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Robert W. Baird started coverage on shares of Hubbell in a report on Thursday, August 20th. They set an “outperform” rating and a $550.00 price target for the company. Barclays upped their price target on shares of Hubbell from $481.00 to $503.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Hubbell in a report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $553.89.

Hubbell Stock Performance

Shares of HUBB stock opened at $459.86 on Friday. Hubbell Inc has a 12-month low of $403.82 and a 12-month high of $565.50. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.61 and a quick ratio of 0.93. The firm has a market capitalization of $24.29 billion, a price-to-earnings ratio of 27.23, a price-to-earnings-growth ratio of 2.30 and a beta of 0.90. The business has a 50 day simple moving average of $491.58 and a 200 day simple moving average of $497.43.

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

Hubbell Announces Dividend

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

Hubbell 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.