Resona Asset Management Co. Ltd. Buys 1,633 Shares of Hubbell Inc $HUBB

Resona Asset Management Co. Ltd. raised its stake in shares of Hubbell Inc (NYSE:HUBB) by 9.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 18,414 shares of the industrial products company’s stock after purchasing an additional 1,633 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Hubbell were worth $7,515,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Central Pacific Bank Trust Division bought a new position in Hubbell during the second quarter valued at about $29,000. Cullen Frost Bankers Inc. grew its holdings in shares of Hubbell by 400.0% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 85 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 68 shares in the last quarter. Ransom Advisory Ltd acquired a new stake in shares of Hubbell during the 1st quarter worth approximately $53,000. Groupe la Francaise bought a new stake in shares of Hubbell during the first quarter valued at approximately $57,000. Finally, Geneos Wealth Management Inc. raised its stake in shares of Hubbell by 271.9% in the first quarter. Geneos Wealth Management Inc. now owns 212 shares of the industrial products company’s stock valued at $70,000 after purchasing an additional 155 shares in the last quarter. Institutional investors own 88.16% of the company’s stock.

Hubbell Stock Up 0.2%

Shares of NYSE:HUBB opened at $462.40 on Friday. Hubbell Inc has a 12 month low of $299.42 and a 12 month high of $484.26. The company’s 50-day moving average price is $436.38 and its two-hundred day moving average price is $415.37. The company has a quick ratio of 0.76, a current ratio of 1.36 and a debt-to-equity ratio of 0.28. The firm has a market cap of $24.57 billion, a P/E ratio of 28.68, a P/E/G ratio of 2.60 and a beta of 1.00.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, October 28th. The industrial products company reported $5.17 earnings per share for the quarter, topping analysts’ consensus estimates of $4.98 by $0.19. Hubbell had a net margin of 15.24% and a return on equity of 27.68%. The company had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the previous year, the firm posted $4.49 earnings per share. The company’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. As a group, research analysts forecast that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be issued a dividend of $1.42 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $5.68 annualized dividend and a yield of 1.2%. This is a positive change from Hubbell’s previous quarterly dividend of $1.32. Hubbell’s dividend payout ratio (DPR) is currently 35.24%.

Analyst Ratings Changes

HUBB has been the topic of a number of recent research reports. Wall Street Zen upgraded shares of Hubbell from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 2nd. Stephens reaffirmed an “overweight” rating and set a $500.00 price objective on shares of Hubbell in a report on Thursday, September 11th. JPMorgan Chase & Co. lifted their target price on shares of Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. Wells Fargo & Company upped their target price on shares of Hubbell from $490.00 to $500.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Finally, Barclays raised their price target on shares of Hubbell from $431.00 to $456.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 29th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $477.83.

Insiders Place Their Bets

In related news, insider Mark Eugene Mikes sold 2,470 shares of Hubbell stock in a transaction dated Wednesday, November 5th. The stock was 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 directly 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 can be accessed through the SEC website. Also, insider Alyssa R. Flynn sold 2,011 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $470.32, for a total transaction of $945,813.52. Following the transaction, the insider owned 3,243 shares in the company, valued at approximately $1,525,247.76. The trade was a 38.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.66% of the stock is currently owned by company insiders.

Hubbell Profile

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.