Nykredit A S purchased a new stake in shares of Hubbell Inc (NYSE:HUBB – Free Report) in the 2nd quarter, Holdings Channel reports. The fund purchased 27,949 shares of the industrial products company’s stock, valued at approximately $14,623,000.
Several other institutional investors have also recently made changes to their positions in HUBB. BlackRock Inc. purchased a new stake in Hubbell during the second quarter valued at approximately $2,455,986,000. Bank of New York Mellon Corp purchased a new position in shares of Hubbell during the 2nd quarter worth $783,142,000. Wellington Management Group LLP grew its position in shares of Hubbell by 140.4% during the 4th 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 acquiring an additional 1,468,701 shares during the period. Deutsche Bank AG bought a new stake in shares of Hubbell during the 2nd quarter valued at $610,053,000. Finally, Bank of America Corp DE purchased a new stake in shares of Hubbell in the 2nd quarter worth $204,918,000. Institutional investors own 88.16% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently commented on HUBB. Robert W. Baird assumed coverage on Hubbell in a report on Thursday, August 20th. They issued an “outperform” rating and a $550.00 target price on the stock. UBS Group reaffirmed a “neutral” rating and issued a $515.00 price objective on shares of Hubbell in a research note on Tuesday, June 16th. Wall Street Zen cut Hubbell from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. Sanford C. Bernstein reiterated an “outperform” rating on shares of Hubbell in a research note on Wednesday, July 29th. Finally, Weiss Ratings lowered shares of Hubbell from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $555.00.
Insider Transactions at Hubbell
In other Hubbell news, VP Jonathan Del Nero 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 transaction of $283,652.32. Following the completion of the sale, the vice president directly owned 2,933 shares of the company’s stock, valued at $1,520,936.48. This trade represents a 15.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.63% of the stock is currently owned by company insiders.
Hubbell Trading Up 0.2%
Shares of HUBB stock opened at $460.95 on Friday. 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 stock has a fifty day simple moving average of $484.58 and a two-hundred day simple moving average of $495.36. The firm has a market capitalization of $24.35 billion, a PE ratio of 27.29, a PEG ratio of 2.25 and a beta of 0.89. Hubbell Inc has a 52-week low of $403.82 and a 52-week high of $565.50.
Hubbell (NYSE:HUBB – Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The industrial products company reported $5.52 earnings per share for the quarter, topping analysts’ consensus estimates of $5.39 by $0.13. The firm had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.66 billion. Hubbell had a return on equity of 27.11% and a net margin of 14.49%.The business’s quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.93 earnings per share. Hubbell has set its FY 2026 guidance at 20.250-20.550 EPS. On average, analysts predict that Hubbell Inc will post 20.43 EPS for the current fiscal year.
Hubbell Dividend Announcement
The firm also recently declared 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 presently 33.63%.
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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