Insider Buying: Hubbell (NYSE:HUBB) Director Acquires 435 Shares of Stock

Hubbell Inc (NYSE:HUBB) Director John Malloy bought 435 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was acquired at an average cost 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. This trade represents a 2.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Hubbell Stock Performance

NYSE:HUBB traded up $2.40 during trading hours on Wednesday, reaching $419.68. 395,162 shares of the company’s stock were exchanged, compared to its average volume of 602,281. Hubbell Inc has a 1-year low of $299.42 and a 1-year high of $484.26. 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 capitalization of $22.30 billion, a price-to-earnings ratio of 26.03, a P/E/G ratio of 2.60 and a beta of 1.00. The company has a 50-day moving average of $437.10 and a 200 day moving average of $419.89.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, October 28th. The industrial products company reported $5.17 EPS for the quarter, beating 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 business had revenue of $1.50 billion during the quarter, compared to analysts’ expectations of $1.54 billion. During the same period in the prior year, the company earned $4.49 earnings per share. The business’s revenue was up 4.1% compared to the same quarter last year. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. Research analysts anticipate that Hubbell Inc will post 17.63 EPS for the current year.

Hubbell Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be given a dividend of $1.42 per share. This represents a $5.68 dividend on an annualized basis and a 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 35.24%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Wall Street Zen raised Hubbell from a “buy” rating to a “strong-buy” rating in a report on Sunday, November 2nd. Mizuho boosted their price objective on shares of Hubbell from $475.00 to $480.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. JPMorgan Chase & Co. upped their price objective 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. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hubbell in a report on Wednesday, October 8th. Finally, Barclays boosted 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 analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Hubbell has an average rating of “Moderate Buy” and an average target price of $477.83.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in HUBB. 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 acquiring an additional 21,508 shares in the last quarter. State Street Corp raised its holdings in Hubbell by 3.6% during the third quarter. State Street Corp now owns 2,261,944 shares of the industrial products company’s stock worth $973,337,000 after purchasing an additional 78,539 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Hubbell by 15.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,655,746 shares of the industrial products company’s stock worth $712,484,000 after purchasing an additional 226,856 shares during the last quarter. Invesco Ltd. boosted its position in Hubbell by 0.6% during the second quarter. Invesco Ltd. now owns 1,532,035 shares of the industrial products company’s stock worth $625,698,000 after purchasing an additional 9,697 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in Hubbell by 1.8% in the second quarter. Geode Capital Management LLC now owns 1,353,824 shares of the industrial products company’s stock valued at $550,571,000 after purchasing an additional 24,110 shares during the last quarter. 88.16% of the stock is currently owned by institutional investors and hedge funds.

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.