Rakuten Investment Management Inc. Purchases Shares of 117,436 Hubbell Inc $HUBB

Rakuten Investment Management Inc. acquired a new position in shares of Hubbell Inc (NYSE:HUBB) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 117,436 shares of the industrial products company’s stock, valued at approximately $47,773,000. Rakuten Investment Management Inc. owned 0.22% of Hubbell at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of HUBB. Vanguard Group Inc. raised its stake in Hubbell by 0.3% during the second quarter. Vanguard Group Inc. now owns 6,646,922 shares of the industrial products company’s stock worth $2,714,669,000 after purchasing an additional 21,508 shares during the period. State Street Corp increased its holdings in shares of Hubbell by 1.2% during the 2nd quarter. State Street Corp now owns 2,183,405 shares of the industrial products company’s stock worth $891,724,000 after buying an additional 26,708 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Hubbell by 15.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,655,746 shares of the industrial products company’s stock worth $712,484,000 after buying an additional 226,856 shares during the period. Invesco Ltd. raised its position in shares of Hubbell by 0.6% in the 2nd quarter. Invesco Ltd. now owns 1,532,035 shares of the industrial products company’s stock worth $625,698,000 after buying an additional 9,697 shares during the period. Finally, Geode Capital Management LLC boosted 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 acquiring an additional 24,110 shares during the last quarter. 88.16% of the stock is owned by institutional investors and hedge funds.

Hubbell Stock Down 3.3%

NYSE HUBB opened at $473.11 on Wednesday. The stock has a market cap of $25.14 billion, a PE ratio of 29.35, a P/E/G ratio of 2.48 and a beta of 1.02. The business has a 50 day moving average price of $447.59 and a two-hundred day moving average price of $438.66. Hubbell Inc has a fifty-two week low of $299.42 and a fifty-two week high of $497.95. The company has a quick ratio of 0.85, a current ratio of 1.36 and a debt-to-equity ratio of 0.28.

Hubbell (NYSE:HUBB) last announced its earnings results on Tuesday, October 28th. The industrial products company reported $5.17 earnings per share for the quarter, beating 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 business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same period in the prior year, the firm earned $4.49 earnings per share. The business’s quarterly 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. As a group, sell-side analysts predict that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Friday, November 28th were paid a $1.42 dividend. This represents a $5.68 annualized dividend and a dividend yield of 1.2%. This is a positive change from Hubbell’s previous quarterly dividend of $1.32. The ex-dividend date was Friday, November 28th. Hubbell’s payout ratio is presently 35.24%.

Analysts Set New Price Targets

Several brokerages have commented on HUBB. Weiss Ratings restated a “buy (b-)” rating on shares of Hubbell in a research note on Wednesday, October 8th. UBS Group reaffirmed a “neutral” rating and issued a $450.00 price objective on shares of Hubbell in a research note on Friday, December 12th. Mizuho increased their target price on shares of Hubbell from $480.00 to $500.00 and gave the stock an “outperform” rating in a research report on Monday, January 5th. Barclays lifted their price target on shares of Hubbell from $456.00 to $465.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 7th. Finally, Wells Fargo & Company increased their price objective on shares of Hubbell from $500.00 to $515.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 7th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Hubbell currently has a consensus rating of “Moderate Buy” and a consensus target price of $497.25.

Insider Activity at Hubbell

In other Hubbell news, insider Mark Eugene Mikes sold 2,470 shares of Hubbell stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $466.50, for a total transaction of $1,152,255.00. Following the sale, the insider directly owned 4,785 shares in the company, valued at $2,232,202.50. The trade was a 34.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alyssa R. Flynn sold 2,011 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $470.32, for a total value of $945,813.52. Following the transaction, the insider owned 3,243 shares of the company’s stock, valued at approximately $1,525,247.76. This trade represents a 38.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.76% of the stock is currently owned by company insiders.

Hubbell 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.