North Forty Two & Co. Purchases Shares of 582 Hubbell Inc $HUBB

North Forty Two & Co. acquired a new stake in Hubbell Inc (NYSE:HUBB) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 582 shares of the industrial products company’s stock, valued at approximately $238,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. McKinley Carter Wealth Services Inc. boosted its holdings in shares of Hubbell by 16.7% in the 2nd quarter. McKinley Carter Wealth Services Inc. now owns 19,829 shares of the industrial products company’s stock valued at $8,098,000 after acquiring an additional 2,843 shares during the last quarter. Belpointe Asset Management LLC acquired a new stake in Hubbell during the 2nd quarter worth about $320,000. Venturi Wealth Management LLC purchased a new position in shares of Hubbell during the 2nd quarter valued at about $490,000. Zurich Insurance Group Ltd FI acquired a new position in shares of Hubbell in the 1st quarter valued at about $1,423,000. Finally, Beacon Financial Group acquired a new position in shares of Hubbell in the 2nd quarter valued at about $262,000. Institutional investors and hedge funds own 88.16% of the company’s stock.

Hubbell Stock Performance

HUBB opened at $417.38 on Wednesday. The firm’s fifty day simple moving average is $437.10 and its two-hundred day simple moving average is $419.89. Hubbell Inc has a 52-week low of $299.42 and a 52-week high of $484.26. The company has a market cap of $22.18 billion, a price-to-earnings ratio of 25.89, a PEG ratio of 2.60 and a beta of 1.00. The company has a quick ratio of 0.76, a current ratio of 1.36 and a debt-to-equity ratio of 0.28.

Hubbell (NYSE:HUBB) last released its quarterly 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 firm had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the prior year, the firm earned $4.49 EPS. The company’s revenue for the quarter was up 4.1% on a year-over-year basis. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. Equities analysts anticipate that Hubbell Inc will post 17.63 earnings per share 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 $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, November 28th. This is an increase from Hubbell’s previous quarterly dividend of $1.32. Hubbell’s payout ratio is 35.24%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on HUBB shares. JPMorgan Chase & Co. lifted their price target on Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. Barclays boosted their target price on shares of Hubbell from $431.00 to $456.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 29th. Wall Street Zen upgraded shares of Hubbell from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 2nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hubbell in a report on Wednesday, October 8th. Finally, Stephens reissued an “overweight” rating and set a $500.00 target price on shares of Hubbell in a research note on Thursday, September 11th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $477.83.

Insider Buying and Selling at Hubbell

In other news, insider Mark Eugene Mikes sold 2,470 shares of the company’s stock in a transaction on 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 sale, the insider owned 4,785 shares of the company’s stock, valued at $2,232,202.50. This represents a 34.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Alyssa R. Flynn sold 2,011 shares of the 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 completion of the sale, the insider owned 3,243 shares of the company’s stock, valued at $1,525,247.76. This trade represents a 38.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 0.66% of the company’s stock.

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.