Northwestern Mutual Wealth Management Co. Boosts Stock Position in Hubbell Inc $HUBB

Northwestern Mutual Wealth Management Co. raised its holdings in Hubbell Inc (NYSE:HUBB) by 10.1% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 113,386 shares of the industrial products company’s stock after acquiring an additional 10,416 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Hubbell were worth $46,308,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Central Pacific Bank Trust Division purchased a new stake in shares of Hubbell during the second quarter valued at $29,000. Cullen Frost Bankers Inc. lifted its holdings in Hubbell by 400.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 85 shares of the industrial products company’s stock valued at $35,000 after buying an additional 68 shares in the last quarter. Ransom Advisory Ltd purchased a new stake in Hubbell in the 1st quarter valued at about $53,000. Johnson Financial Group Inc. grew its stake in Hubbell by 185.4% in the 2nd quarter. Johnson Financial Group Inc. now owns 137 shares of the industrial products company’s stock worth $56,000 after acquiring an additional 89 shares in the last quarter. Finally, Groupe la Francaise bought a new position in Hubbell in the 1st quarter worth about $57,000. 88.16% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on HUBB. UBS Group began coverage on shares of Hubbell in a research note on Thursday, November 20th. They set a “neutral” rating and a $450.00 price target for the company. Barclays raised their price objective on Hubbell from $431.00 to $456.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 29th. Mizuho lifted their target price on Hubbell from $475.00 to $480.00 and gave the company an “outperform” rating in a research report on Friday, October 17th. Wells Fargo & Company upped their target price on Hubbell from $490.00 to $500.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Finally, Stephens reissued an “overweight” rating and set a $500.00 price target on shares of Hubbell in a research report on Thursday, September 11th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Hubbell currently has a consensus rating of “Moderate Buy” and an average price target of $474.00.

Hubbell Stock Performance

HUBB stock opened at $431.43 on Friday. Hubbell Inc has a one year low of $299.42 and a one year high of $484.26. The firm has a market cap of $22.93 billion, a price-to-earnings ratio of 26.76, a PEG ratio of 2.60 and a beta of 1.00. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.76 and a current ratio of 1.36. The firm has a 50-day simple moving average of $434.54 and a two-hundred day simple moving average of $422.96.

Hubbell (NYSE:HUBB) last posted its quarterly earnings data on Tuesday, October 28th. The industrial products company reported $5.17 EPS 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 firm had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.54 billion. During the same quarter in the previous year, the business posted $4.49 EPS. Hubbell’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. On average, equities analysts forecast that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be paid a dividend of $1.42 per share. 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 annualized dividend and a yield of 1.3%. Hubbell’s dividend payout ratio (DPR) is presently 35.24%.

Insider Activity at Hubbell

In other Hubbell news, Director John F. Malloy bought 435 shares of Hubbell stock in a transaction that occurred on Monday, November 17th. The shares were bought at an average cost of $429.24 per share, with a total value of $186,719.40. Following the transaction, the director directly owned 19,085 shares of the company’s stock, valued at approximately $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 can be accessed through this link. Also, insider Mark Eugene Mikes sold 2,470 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $466.50, for a total value of $1,152,255.00. Following the completion of the sale, the insider owned 4,785 shares of the company’s stock, valued at approximately $2,232,202.50. This trade represents a 34.05% 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 corporate insiders.

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.