Prudential PLC Has $11.49 Million Stock Holdings in Hubbell Inc $HUBB

Prudential PLC raised its position in Hubbell Inc (NYSE:HUBB) by 11.5% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 28,133 shares of the industrial products company’s stock after acquiring an additional 2,901 shares during the period. Prudential PLC’s holdings in Hubbell were worth $11,490,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in HUBB. TD Waterhouse Canada Inc. lifted its position in shares of Hubbell by 13.9% in the second quarter. TD Waterhouse Canada Inc. now owns 344 shares of the industrial products company’s stock worth $141,000 after purchasing an additional 42 shares in the last quarter. North Forty Two & Co. acquired a new stake in Hubbell in the 2nd quarter valued at $238,000. Empowered Funds LLC lifted its position in Hubbell by 930.3% during the 2nd quarter. Empowered Funds LLC now owns 12,703 shares of the industrial products company’s stock worth $5,188,000 after buying an additional 11,470 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Hubbell by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 6,646,922 shares of the industrial products company’s stock worth $2,714,669,000 after buying an additional 21,508 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. acquired a new position in shares of Hubbell during the 2nd quarter worth about $232,000. 88.16% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on HUBB. 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. Wall Street Zen raised Hubbell from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 2nd. Mizuho increased their price objective on Hubbell from $475.00 to $480.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Barclays raised 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. Finally, JPMorgan Chase & Co. upped their price target on shares of Hubbell from $417.00 to $458.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 15th. Four equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $473.86.

Insider Activity at Hubbell

In other news, Director John F. Malloy acquired 435 shares of Hubbell stock in a transaction dated Monday, November 17th. The stock was bought at an average price of $429.24 per share, for a total transaction of $186,719.40. Following the completion of the acquisition, the director directly owned 19,085 shares in the company, valued at approximately $8,192,045.40. The trade was a 2.33% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Mark Eugene Mikes sold 2,470 shares of the stock in a transaction that occurred on 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 transaction, the insider owned 4,785 shares in the company, valued at approximately $2,232,202.50. This trade represents a 34.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.66% of the stock is owned by company insiders.

Hubbell Stock Performance

Shares of NYSE HUBB opened at $407.13 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.76 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $21.64 billion, a P/E ratio of 25.26, a P/E/G ratio of 2.60 and a beta of 1.00. Hubbell Inc has a 12 month low of $299.42 and a 12 month high of $484.26. The stock has a 50 day moving average of $435.76 and a 200-day moving average of $419.80.

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

Hubbell Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be issued a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, November 28th. This is a positive change from Hubbell’s previous quarterly dividend of $1.32. Hubbell’s payout ratio is presently 35.24%.

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.