Evolve Private Wealth LLC bought a new position in Hubbell Inc (NYSE:HUBB – Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,168 shares of the industrial products company’s stock, valued at approximately $611,000.
A number of other hedge funds have also modified their holdings of the stock. DNB Asset Management AS raised its holdings in Hubbell by 4.9% during the 4th quarter. DNB Asset Management AS now owns 38,865 shares of the industrial products company’s stock worth $17,260,000 after buying an additional 1,832 shares during the period. Swedbank AB boosted its holdings in shares of Hubbell by 19.2% in the first quarter. Swedbank AB now owns 32,380 shares of the industrial products company’s stock worth $15,890,000 after buying an additional 5,218 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Hubbell by 3.6% in the fourth quarter. Principal Financial Group Inc. now owns 205,775 shares of the industrial products company’s stock worth $91,396,000 after buying an additional 7,100 shares during the period. Vest Financial LLC acquired a new position in shares of Hubbell in the fourth quarter worth about $1,589,000. Finally, Troy Asset Management Ltd increased its position in shares of Hubbell by 60.7% in the fourth quarter. Troy Asset Management Ltd now owns 551,620 shares of the industrial products company’s stock worth $244,980,000 after acquiring an additional 208,327 shares in the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Hubbell news, VP Nero Jonathan M. Del sold 547 shares of the stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $518.56, for a total value of $283,652.32. Following the completion of the sale, the vice president owned 2,933 shares in the company, valued at $1,520,936.48. This represents a 15.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.63% of the company’s stock.
Hubbell Trading Down 0.7%
Hubbell (NYSE:HUBB – Get Free Report) last issued its earnings results on Tuesday, July 28th. The industrial products company reported $5.52 earnings per share for the quarter, beating analysts’ consensus estimates of $5.39 by $0.13. The company had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.66 billion. Hubbell had a return on equity of 27.11% and a net margin of 14.49%.The firm’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.93 EPS. Hubbell has set its FY 2026 guidance at 20.250-20.550 EPS. As a group, analysts predict that Hubbell Inc will post 20.41 earnings per share for the current fiscal year.
Hubbell Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, August 31st will be paid a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, August 31st. Hubbell’s dividend payout ratio is currently 33.63%.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on HUBB shares. Weiss Ratings lowered shares of Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 14th. Stephens raised their price objective on shares of Hubbell from $550.00 to $600.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. UBS Group reiterated a “neutral” rating and set a $515.00 price objective on shares of Hubbell in a research report on Tuesday, June 16th. Sanford C. Bernstein reissued an “outperform” rating on shares of Hubbell in a research note on Wednesday, July 29th. Finally, Wells Fargo & Company increased their target price on Hubbell from $530.00 to $560.00 and gave the company an “overweight” rating in a report on Friday, May 1st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $553.89.
View Our Latest Stock Report on Hubbell
Hubbell Company Profile
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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