NorthCrest Asset Manangement LLC Sells 4,213 Shares of Hubbell Inc $HUBB

NorthCrest Asset Manangement LLC cut its position in Hubbell Inc (NYSE:HUBB) by 22.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,763 shares of the industrial products company’s stock after selling 4,213 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Hubbell were worth $6,096,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its stake in shares of Hubbell by 1.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 11,111 shares of the industrial products company’s stock worth $4,588,000 after purchasing an additional 123 shares during the period. Florida Trust Wealth Management Co acquired a new stake in Hubbell in the 3rd quarter valued at approximately $204,000. Tred Avon Family Wealth LLC bought a new position in Hubbell in the 3rd quarter worth approximately $713,000. Massachusetts Financial Services Co. MA boosted its position in shares of Hubbell by 15.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,655,746 shares of the industrial products company’s stock valued at $712,484,000 after acquiring an additional 226,856 shares during the period. Finally, Resonant Capital Advisors LLC grew its stake in shares of Hubbell by 5.8% in the third quarter. Resonant Capital Advisors LLC now owns 948 shares of the industrial products company’s stock worth $408,000 after acquiring an additional 52 shares during the last quarter. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Stock Performance

Hubbell stock opened at $489.92 on Tuesday. The firm 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 stock has a fifty day moving average price of $447.13 and a two-hundred day moving average price of $438.25. Hubbell Inc has a 52-week low of $299.42 and a 52-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 posted its earnings results on Tuesday, October 28th. The industrial products company reported $5.17 earnings per share for the quarter, topping the consensus estimate of $4.98 by $0.19. Hubbell had a net margin of 15.24% and a return on equity of 27.68%. 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 earned $4.49 EPS. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. As a group, analysts anticipate that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Increases Dividend

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

Analysts Set New Price Targets

A number of brokerages have weighed in on HUBB. UBS Group reissued a “neutral” rating and issued a $450.00 price target on shares of Hubbell in a report on Friday, December 12th. Wall Street Zen downgraded Hubbell from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 29th. Wells Fargo & Company boosted their price target on Hubbell from $500.00 to $515.00 and gave the company an “overweight” rating in a research note on Wednesday, January 7th. Evercore ISI initiated coverage on Hubbell in a report on Monday, December 15th. They set an “outperform” rating and a $575.00 price objective on the stock. Finally, Mizuho upped their target price on Hubbell from $480.00 to $500.00 and gave the company an “outperform” rating in a research note on Monday, January 5th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Hubbell currently has a consensus rating of “Moderate Buy” and a consensus target price of $497.25.

Insider Activity at Hubbell

In other Hubbell news, Director John F. Malloy purchased 435 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was acquired at an average cost of $429.24 per share, with a total value of $186,719.40. Following the completion of 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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alyssa R. Flynn sold 2,011 shares of the business’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $470.32, for a total transaction of $945,813.52. Following the completion of the transaction, the insider directly owned 3,243 shares of the company’s stock, valued at approximately $1,525,247.76. This represents a 38.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.76% of the company’s stock.

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.