ABN Amro Investment Solutions Takes Position in Hubbell Inc $HUBB

ABN Amro Investment Solutions purchased a new position in shares of Hubbell Inc (NYSE:HUBB) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 16,571 shares of the industrial products company’s stock, valued at approximately $6,768,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Nuveen LLC acquired a new position in Hubbell in the 1st quarter valued at about $213,283,000. Adage Capital Partners GP L.L.C. grew its stake in shares of Hubbell by 181.6% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 975,196 shares of the industrial products company’s stock valued at $322,702,000 after purchasing an additional 628,886 shares during the last quarter. Boston Partners purchased a new position in shares of Hubbell in the 2nd quarter valued at approximately $230,200,000. Mirova US LLC acquired a new position in shares of Hubbell in the second quarter valued at approximately $139,386,000. Finally, Deutsche Bank AG raised its stake in shares of Hubbell by 35.1% during the first quarter. Deutsche Bank AG now owns 1,104,085 shares of the industrial products company’s stock worth $365,353,000 after purchasing an additional 287,047 shares during the last quarter. 88.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HUBB has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Hubbell from $417.00 to $458.00 and gave the company a “neutral” rating in a research report on Wednesday, October 15th. Wells Fargo & Company lifted their target price on shares of Hubbell from $490.00 to $500.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Stephens reissued an “overweight” rating and set a $500.00 price target on shares of Hubbell in a report on Thursday, September 11th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Hubbell in a report on Wednesday, October 8th. Finally, Wall Street Zen upgraded Hubbell from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 2nd. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $477.83.

Hubbell Stock Down 3.4%

Hubbell stock opened at $437.61 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.76 and a current ratio of 1.36. The firm has a market capitalization of $23.26 billion, a price-to-earnings ratio of 27.15, a price-to-earnings-growth ratio of 2.60 and a beta of 1.00. Hubbell Inc has a fifty-two week low of $299.42 and a fifty-two week high of $484.26. The stock’s fifty day moving average is $437.89 and its two-hundred day moving average is $417.59.

Hubbell (NYSE:HUBB) last released its quarterly earnings results on Tuesday, October 28th. The industrial products company reported $5.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.98 by $0.19. Hubbell had a return on equity of 27.68% and a net margin of 15.24%.The business had revenue of $1.50 billion during the quarter, compared to the consensus estimate of $1.54 billion. During the same quarter in the previous year, the company posted $4.49 EPS. The business’s revenue was up 4.1% on a year-over-year basis. Hubbell has set its FY 2025 guidance at 18.100-18.30 EPS. Analysts predict that Hubbell Inc will post 17.63 EPS for the current fiscal year.

Hubbell Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Friday, November 28th will be given a dividend of $1.42 per share. The ex-dividend date is Friday, November 28th. This represents a $5.68 annualized dividend and a dividend yield of 1.3%. This is an increase from Hubbell’s previous quarterly dividend of $1.32. Hubbell’s payout ratio is presently 35.24%.

Insiders Place Their Bets

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

Hubbell Company Profile

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.