Bahl & Gaynor Inc. Grows Stake in Hubbell Inc $HUBB

Bahl & Gaynor Inc. raised its holdings in Hubbell Inc (NYSE:HUBB) by 26.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 263,287 shares of the industrial products company’s stock after buying an additional 55,189 shares during the quarter. Bahl & Gaynor Inc. owned about 0.50% of Hubbell worth $107,529,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Central Pacific Bank Trust Division bought a new stake in Hubbell in the second quarter valued at $29,000. Cullen Frost Bankers Inc. lifted its position in shares of Hubbell by 400.0% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 85 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 68 shares during the period. Ransom Advisory Ltd bought a new stake in shares of Hubbell during the 1st quarter valued at about $53,000. Groupe la Francaise bought a new stake in shares of Hubbell during the 1st quarter valued at about $57,000. Finally, Geneos Wealth Management Inc. increased its position in shares of Hubbell by 271.9% during the first quarter. Geneos Wealth Management Inc. now owns 212 shares of the industrial products company’s stock valued at $70,000 after buying an additional 155 shares during the period. Institutional investors own 88.16% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on HUBB. Wall Street Zen raised Hubbell from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 2nd. Barclays lifted their price target on Hubbell from $431.00 to $456.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 29th. JPMorgan Chase & Co. upped their price target on Hubbell from $417.00 to $458.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 15th. Weiss Ratings reissued a “buy (b-)” rating on shares of Hubbell in a research report on Wednesday, October 8th. Finally, Stephens restated an “overweight” rating and set a $500.00 target price on shares of Hubbell in a report on Thursday, September 11th. Four research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $473.86.

Hubbell Stock Up 3.6%

Shares of NYSE:HUBB opened at $422.19 on Friday. The company has a current ratio of 1.36, a quick ratio of 0.76 and a debt-to-equity ratio of 0.28. The stock has a fifty day simple moving average of $435.46 and a two-hundred day simple moving average of $420.27. Hubbell Inc has a 12-month low of $299.42 and a 12-month high of $484.26. The stock has a market capitalization of $22.44 billion, a price-to-earnings ratio of 26.19, a PEG ratio of 2.60 and a beta of 1.00.

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

Hubbell Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Friday, November 28th will be issued a $1.42 dividend. This represents a $5.68 annualized dividend and a yield of 1.3%. This is a boost from Hubbell’s previous quarterly dividend of $1.32. The ex-dividend date of this dividend is Friday, November 28th. Hubbell’s dividend payout ratio is presently 35.24%.

Insider Transactions at Hubbell

In other news, Director John F. Malloy purchased 435 shares of the business’s stock in a transaction dated Monday, November 17th. The shares were purchased at an average price of $429.24 per share, for a total transaction of $186,719.40. Following the completion of the acquisition, the director directly owned 19,085 shares in the company, valued at $8,192,045.40. This represents a 2.33% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark Eugene Mikes sold 2,470 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The shares were 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 of the company’s stock, valued at $2,232,202.50. This trade represents a 34.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.66% of the company’s stock.

Hubbell 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.