Victory Capital Management Inc. lessened its holdings in Hubbell Inc (NYSE:HUBB – Free Report) by 3.8% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 695,068 shares of the industrial products company’s stock after selling 27,613 shares during the period. Victory Capital Management Inc.’s holdings in Hubbell were worth $308,687,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of HUBB. Jones Financial Companies Lllp boosted its stake in shares of Hubbell by 171.9% in the 1st quarter. Jones Financial Companies Lllp now owns 2,401 shares of the industrial products company’s stock worth $795,000 after buying an additional 1,518 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Hubbell by 18.9% in the 1st quarter. Empowered Funds LLC now owns 1,233 shares of the industrial products company’s stock worth $408,000 after buying an additional 196 shares during the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Hubbell by 271.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 212 shares of the industrial products company’s stock worth $70,000 after buying an additional 155 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Hubbell in the 1st quarter worth approximately $599,000. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Hubbell by 31.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 468 shares of the industrial products company’s stock worth $191,000 after buying an additional 111 shares during the last quarter. Hedge funds and other institutional investors own 88.16% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on HUBB. Barclays boosted their target price on Hubbell from $481.00 to $503.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. Weiss Ratings cut shares of Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday. Wells Fargo & Company increased their price target on Hubbell from $530.00 to $560.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Morgan Stanley increased their price target on Hubbell from $515.00 to $565.00 and gave the stock an “equal weight” rating in a research note on Wednesday, March 11th. Finally, Wall Street Zen lowered Hubbell from a “buy” rating to a “hold” rating in a report on Sunday, June 7th. Five equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, Hubbell presently has an average rating of “Moderate Buy” and an average price target of $546.25.
Hubbell Trading Up 1.4%
NYSE:HUBB opened at $476.04 on Friday. The company has a market cap of $25.15 billion, a P/E ratio of 28.12, a P/E/G ratio of 2.37 and a beta of 0.91. Hubbell Inc has a 1 year low of $380.86 and a 1 year high of $565.50. The stock’s fifty day moving average price is $501.37 and its two-hundred day moving average price is $484.92. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.58 and a quick ratio of 0.94.
Hubbell (NYSE:HUBB – Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The industrial products company reported $3.93 earnings per share for the quarter, topping the consensus estimate of $3.87 by $0.06. The firm had revenue of $1.52 billion for the quarter, compared to analysts’ expectations of $1.50 billion. Hubbell had a net margin of 15.10% and a return on equity of 27.09%. The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.50 earnings per share. Hubbell has set its FY 2026 guidance at 19.300-19.850 EPS. As a group, analysts expect that Hubbell Inc will post 19.84 EPS for the current year.
Hubbell Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Friday, May 29th will be paid a $1.42 dividend. This represents a $5.68 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Friday, May 29th. Hubbell’s dividend payout ratio is currently 33.55%.
About Hubbell
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.
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