Commerce Bank acquired a new stake in shares of Hubbell Inc (NYSE:HUBB – Free Report) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 25,729 shares of the industrial products company’s stock, valued at approximately $13,461,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pinnacle Bancorp Inc. lifted its position in shares of Hubbell by 165.0% during the first quarter. Pinnacle Bancorp Inc. now owns 53 shares of the industrial products company’s stock valued at $26,000 after buying an additional 33 shares during the last quarter. Raiffeisen Bank International AG boosted its holdings in shares of Hubbell by 83.3% in the 4th quarter. Raiffeisen Bank International AG now owns 66 shares of the industrial products company’s stock valued at $29,000 after buying an additional 30 shares in the last quarter. Keating Financial Advisory Services Inc. purchased a new position in shares of Hubbell in the 2nd quarter worth approximately $35,000. Leonteq Securities AG purchased a new position in shares of Hubbell in the 1st quarter worth approximately $33,000. Finally, DV Equities LLC purchased a new position in shares of Hubbell in the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 88.16% of the company’s stock.
Insider Buying and Selling at Hubbell
In other news, VP Nero Jonathan M. Del sold 547 shares of the business’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $518.56, for a total transaction of $283,652.32. Following the sale, the vice president directly owned 2,933 shares of the company’s stock, valued at $1,520,936.48. The trade was a 15.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.63% of the stock is owned by company insiders.
Hubbell Stock Performance
Hubbell (NYSE:HUBB – Get Free Report) last released its earnings results on Tuesday, July 28th. The industrial products company reported $5.52 EPS for the quarter, topping analysts’ consensus estimates of $5.39 by $0.13. The company had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.66 billion. Hubbell had a net margin of 14.49% and a return on equity of 27.11%. Hubbell’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same period last year, the business earned $4.93 EPS. Hubbell has set its FY 2026 guidance at 20.250-20.550 EPS. As a group, equities analysts anticipate that Hubbell Inc will post 20.41 EPS for the current fiscal year.
Hubbell Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be paid a dividend of $1.42 per share. This represents a $5.68 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Monday, August 31st. Hubbell’s payout ratio is presently 33.63%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on HUBB shares. Robert W. Baird started coverage on shares of Hubbell in a research report on Thursday. They set an “outperform” rating and a $550.00 target price for the company. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Hubbell in a report on Wednesday, July 29th. Barclays lifted their price target on shares of Hubbell from $481.00 to $503.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Stephens upped their price target on Hubbell from $550.00 to $600.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Finally, Weiss Ratings lowered Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $553.89.
Check Out Our Latest Stock Analysis on HUBB
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.
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