Hsbc Holdings PLC acquired a new stake in shares of Hubbell Inc (NYSE:HUBB – Free Report) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 213,136 shares of the industrial products company’s stock, valued at approximately $111,423,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. BlackRock Inc. bought a new position in Hubbell in the second quarter valued at about $2,455,986,000. Wellington Management Group LLP increased its stake in shares of Hubbell by 140.4% in the fourth quarter. Wellington Management Group LLP now owns 2,514,632 shares of the industrial products company’s stock valued at $1,116,773,000 after buying an additional 1,468,701 shares during the period. State Street Corp increased its stake in shares of Hubbell by 1.8% in the fourth quarter. State Street Corp now owns 2,302,567 shares of the industrial products company’s stock valued at $1,022,593,000 after buying an additional 40,623 shares during the period. Bank of New York Mellon Corp bought a new position in Hubbell in the 2nd quarter valued at approximately $783,142,000. Finally, Geode Capital Management LLC boosted its position in Hubbell by 0.8% during the 4th quarter. Geode Capital Management LLC now owns 1,376,000 shares of the industrial products company’s stock worth $608,704,000 after buying an additional 10,898 shares during the period. Institutional investors own 88.16% of the company’s stock.
Analyst Ratings Changes
Several brokerages have issued reports on HUBB. Sanford C. Bernstein restated an “outperform” rating on shares of Hubbell in a research report on Wednesday, July 29th. Robert W. Baird started coverage on Hubbell in a report on Thursday, August 20th. They issued an “outperform” rating and a $550.00 price objective for the company. Weiss Ratings lowered Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, July 14th. Barclays lifted their target price on Hubbell from $481.00 to $503.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Finally, Stephens increased their price target on Hubbell from $550.00 to $600.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Hubbell has an average rating of “Moderate Buy” and an average price target of $553.89.
Insider Activity at Hubbell
In related news, VP Nero Jonathan M. Del sold 547 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $518.56, for a total transaction of $283,652.32. Following the completion of the sale, the vice president owned 2,933 shares of the company’s stock, valued at $1,520,936.48. This trade represents a 15.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.63% of the stock is currently owned by insiders.
Hubbell Trading Down 0.6%
NYSE:HUBB opened at $464.05 on Wednesday. Hubbell Inc has a 52 week low of $403.82 and a 52 week high of $565.50. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.93 and a current ratio of 1.61. The firm’s fifty day moving average is $494.67 and its 200-day moving average is $498.02. The firm has a market cap of $24.52 billion, a P/E ratio of 27.47, a P/E/G ratio of 2.29 and a beta of 0.90.
Hubbell (NYSE:HUBB – Get Free Report) last released its earnings results on Tuesday, July 28th. The industrial products company reported $5.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.39 by $0.13. The business had revenue of $1.71 billion for the quarter, compared to analyst estimates 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 quarter in the previous year, the business earned $4.93 earnings per share. Hubbell has set its FY 2026 guidance at 20.250-20.550 EPS. Equities analysts expect that Hubbell Inc will post 20.41 earnings per share for the current year.
Hubbell Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a dividend of $1.42 per share. The ex-dividend date is Monday, August 31st. This represents a $5.68 annualized dividend and a dividend yield of 1.2%. Hubbell’s dividend payout ratio is presently 33.63%.
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.
Featured Stories
- Five stocks we like better than Hubbell
- Pathward’s Credit Scare Tests Its Comeback Story
- Wiring the AI Boom: Rumble’s $13.7B Pivot
- StoneX: Too Far Too Fast?
- DICK’s Sporting Goods Faces Pain Now for a Bigger Prize
Want to see what other hedge funds are holding HUBB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hubbell Inc (NYSE:HUBB – Free Report).
Receive News & Ratings for Hubbell Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hubbell and related companies with MarketBeat.com's FREE daily email newsletter.
